The Career Evolution report from Friends Provident reveals that 13 million people plan to change their careers -that's their main occupation, and/or the profession they trained in - at the very least twice in their working lives.
And UK adults, who have already had an average of four jobs so far, are set to keep up this trend for change with: 20 per cent expecting to change jobs at least four times or more in the next 25 years. The Career Evolution report, undertaken by trends agency The Future Laboratory, states that this is a new breed of careerists: ‘Who exist in a state of fluidity - rather than following through their career with one employer or even in one sector, and readily switch between employers and industries.'
But the high rate of career and job changes are by no means forced: three quarters (76 per cent) of people who have already changed careers say the motivation to do so was entirely their own choice, rather than resulting from circumstances beyond their control. And they are largely happy with their career move, 58 per cent of switchers saying their career change was a success.
According to the report: ‘Careers are now being selected rather than accepted, re-imagined as something that should provide fulfilment as much as a pay packet.' And this certainly rings true with the 60 per cent of people in the UK planning to change their career at least once; 27 per cent would be most motivated to make the change due to boredom and the need for a new challenge, rather than their desire for a higher salary (24 per cent).
The report also found that longevity has an important role to play in future working patterns: the longer people live, and want or need to work for, the more likely they are to branch out into several different types of careers. More than a third (35 per cent) of 51-55-year-olds plan to alter their careers at least once before retiring. And with one million workers in the UK over the age of 65, and their numbers rising, the report states: ‘Healthy, mentally alert longevity will allow individuals to achieve their goals in one career and leave time to do so again in another sector.'
Martin Palmer, head of corporate pensions marketing at Friends Provident, said: "Our report found that, when thinking about the future of careers paths, most people (39 per cent) believe the UK's workers will want to expand their abilities to seek new opportunities by developing their skill sets through new careers. These shifts from the traditional concept of a ‘job for life' style career to more modern ‘fluid' approach to working is likely to have a knock-on effect on the way UK adults financially prepare for the future.
"For those planning significant career and job changes, it is vital that they pursue not just salaries but the right financial packages for their futures. We are urging these ‘serial careerists' to plan carefully for retirement and to be pensions aware through their changing careers."
