LSBF survey finds nearly 50% of UK workers want to change careers

Nearly half of the UK work force is looking for a career change, a new report produced by London School of Business and Finance (LSBF) suggests.

The study found that 47% of respondents wanted to change careers, though many were unsure when they would go ahead with it. Of those who did have a concrete plan, most were thinking of leaving their current roles in two years or earlier. 

Most enjoy current career

Despite the high rate of people wanting to move jobs, around three quarters don’t regret their career choice, and a considerably large proportion highlighted that they enjoy what they do. This would suggest that the desire to change careers is not urgent for those who responded to the survey - rather, it could be a long term goal to be achieved with training.

There are other reasons that could explain why people may not be eager to take a leap into the unknown. Common issues included:

• lack of financial stability (an important factor for those who will need to retrain for their preferred career)
• a fear of failure
• not knowing how to go about it
• the large investment of time required to acquire new skills
• the general disruption to personal and professional life that a large-scale career move could cause.

Increased salary as main motivation

Somewhat predictably, the desire to change career was more prevalent amongst younger employees. However, it is natural that those in their first and second jobs may not have found their comfort zone, or fully discovered what inspires and motivates them.

A major motivator for changing career was increased salary prospects – a factor that remained key across all genders and ages – alongside increased job satisfaction and a better work/life balance.

You can find out more by viewing the full infographic and survey.