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More than half of workers say they’re looking for a career change

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Summary

A recent report by FlexJobs showed that 58% of working professionals are looking to make a career change, with the top reasons being remote work, higher pay, better work-life balance and more meaningful work. Other reasons included a toxic company culture, lack of advancement opportunities, and a misalignment of company and personal values. The report also showed that younger generations, who are more open to career changes, are looking for work in healthcare, business and professional services, and arts and entertainment. This could mean that the labor market will rely on “free agent” talent and employers should focus on upskilling and internal career advancement to retain employees.

Q&As

What percentage of workers are looking to make a career change?
58% of workers are looking to make a career change.

What are the top reasons workers are considering changing careers?
The top reasons workers are considering changing careers are remote work, higher pay, better work-life balance, and more meaning or fulfillment.

What are the most sought after industries for career changes?
The most sought after industries for career changes are healthcare, business and professional services, and arts and entertainment.

What concerns are important to workers when making a career change?
The top concerns for workers when making a career change are poor work-life balance, low or unfair pay, a toxic company culture, disrespect, limited advancement opportunities, and too much stress.

What initiatives can employers use to retain talent and reduce career changes?
Employers can use initiatives such as mentorship opportunities, upskilling, and internal career advancement to retain talent and reduce career changes.

AI Comments

👍 This article provides a great overview of the current job market and how workers are responding to it. It is filled with helpful information regarding what workers are looking for when considering a career change and what industries are most attractive to them.

👎 This article does not address the potential challenges that workers may face when considering a career change, such as lack of experience in a new field or difficulty relocating.

AI Discussion

Me: It's about how more than half of workers are looking for a career change. Flexibility and pay are among the top reasons for making a move, according to a report.

Friend: Interesting. It sounds like the labor market is going to rely heavily on "free agent" talent in the near future.

Me: Yeah, it looks that way. It also means that employers will need to focus on retention initiatives like mentorship, upskilling, and internal career advancement in order to keep workers from seeking out new opportunities.

Action items

Research the industries that are most attractive to younger workers, such as healthcare, business and professional services, and arts and entertainment.
Develop retention initiatives that focus on mentorship opportunities, upskilling, and internal career advancement.
Create a flexible work environment that prioritizes work-life balance, fair pay, and a healthy company culture.

Technical terms

Flexibility: The ability to adjust to changing circumstances or to make changes in order to accommodate different needs.
Pay: Money that is given or received in exchange for goods or services.
Great Resignation: A term used to describe the large number of resignations that occurred in 2020 due to the COVID-19 pandemic.
AI: Artificial Intelligence, a technology that uses algorithms to simulate human intelligence and decision-making.
Work-Life Balance: The ability to maintain a healthy balance between work and personal life.
Benefits: Additional compensation or advantages provided to employees in addition to their salary.
Stability: The ability to remain consistent and reliable over time.
COVID-19: A contagious respiratory illness caused by the novel coronavirus.
FlexJobs: A job search website that specializes in flexible and remote job opportunities.
Lattice: A software platform that helps companies manage employee performance and development.
Generation Z: A demographic cohort born between 1997 and 2012.
Millennial: A demographic cohort born between 1981 and 1996.
BambooHR: A human resources software platform that helps companies manage employee data.
Upskilling: The process of learning new skills or improving existing skills in order to increase job performance.
Free Agent: An individual who is not employed by a company and is instead self-employed or works on a freelance basis.