A significant proportion of UK workers are experiencing job dissatisfaction and considering career changes.
- Research shows 24% of UK workers are unhappy in their careers, with 33% planning to switch within the year.
- Top reasons for unhappiness include limited earning potential and lack of meaningful work.
- Age perceptions present barriers to career changes for many workers.
- Despite job dissatisfaction, there is a notable lack of awareness regarding alternative career opportunities.
Research conducted by the St. James’s Place Financial Adviser Academy and Indeed reveals that a quarter of UK workers experience dissatisfaction in their careers, with a third planning to change careers within the next year. The inquiry sheds light on UK workers’ sentiments towards their career choices and their aspirations for the future.
Insecurity about financial compensation emerges as a primary concern, affecting 38% of those dissatisfied. The economic strain linked to the cost-of-living crisis further aggravates this sentiment. Workers seek careers that are not only financially rewarding but also provide personal fulfillment and interest, with 37% expressing a desire for more meaningful work. Current roles are described by 36% of workers as monotonous and lacking stimulation, while 32% attribute their dissatisfaction to an unhealthy work/life balance.
Age-related misconceptions hinder workers from pursuing new career paths. Many perceive a career switch difficult beyond their 30s or 40s. This self-imposed limitation is noticeable among younger workers who feel constrained by age, potentially limiting career opportunities and inhibiting exploration of new vocations.
Analysis shows generation-specific trends in job satisfaction: Gen X workers, ages 44-59, report the highest dissatisfaction levels, with Millennials following closely behind. Conversely, Baby Boomers, nearing retirement, largely express satisfaction with their employment situations. This demographic divide underscores varying career priorities and expectations across generations.
The dream career composition remains consistent across respondents, with an ideal role featuring a comfortable salary (£50,384 on average), work/life balance, and flexible working days. Men generally aim for higher salaries than women, while Millennials target the highest earnings overall. Flexibility in working conditions is paramount, with a significant preference for remote work, ideally three days a week, as highlighted by 19% of workers.
In response to the dissatisfaction in traditional roles, the St. James’s Place Financial Adviser Academy and Indeed compiled a list of ‘Best Careers You’ve Never Considered.’ These roles, like Employee Relations Manager and Financial Systems Analyst, are not only financially viable but cater to the desired flexibility and work culture modern job seekers demand. Despite low consideration rates, these professions offer substantial opportunities.
Gee Foottit, Partnerships Manager at the St. James’s Place Financial Adviser Academy, remarks on this predicament: “There are so many career choices out there for the third of us looking to make a switch. However, a lack of awareness about these opportunities, as well as a shortage of self-confidence, seem to be holding us back.” This sentiment is echoed by Jack Kennedy from Indeed, who emphasizes the need for broader awareness of these roles to match job seekers with positions that meet their criteria.
Raising awareness about alternative career paths and overcoming age-related barriers can significantly improve job satisfaction.
