Economic downturn = career upturn?

One in five GB workers are considering a career change and a rise in new businesses predicted as we emerge from recession – according to Monster.co.uk’s Keep The UK Working research.

A YouGov poll of 2,505 GB adults (1,626 workers) revealed the British workforce is likely to emerge out of the ashes of the current recession happier with their jobs than they were before. We are also likely to see a wave of new businesses set up as we come out the other side of the recession.

The research also found that 20 percent of GB workers have either changed careers or are considering a career change as a result of the recession. Among respondents who have recently been made redundant, this figure rises to a massive 68 percent. Tough times are also unleashing an entrepreneurial spirit with 15 percent of GB workers considering starting their own business as a direct result of the recession.

“In many ways, career choices are some of the most defining decisions people make. In the face of economic uncertainty you might expect to see people stay entrenched in their current jobs and ride out the storm, but our research suggests that contrary to this the UK population who are currently working are in fact more open to career change than you would expect in the current climate,” said Julian Acquari, Managing Director of Monster UK and Ireland.

As expected in these difficult times, the top two reasons for changing careers are better pay (33 percent) or improved job security (28 percent); however, 21 percent of respondents are looking for opportunities that are more fulfilling or creative, suggesting that job satisfaction is increasingly motivating career choices.

Respondents based in London are less likely to make a career move (18 percent), while those polled in the North (22 percent) are more adventurous, with the Welsh being the most likely to go out on a limb and try something new (26 percent). Unsurprisingly, the age group most likely to change careers are those between 18 to 24 years (31 percent) but even workers at a later stage are having a career re-think.

Among those looking to start their own business, Londoners proved to be the most entrepreneurial with 19 percent of those surveyed considering starting their own business as a direct result of the recession, closely followed by the Midlands (18 percent) and Scots the least (11 percent). 

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27 August 2009