Brits will go through seven jobs by the time they retire – one every seven years

The typical employee anticipates cycling through seven different roles before hanging up their work boots, equating to a job switch every seven years, research has found. A survey of 2,000 workers revealed the top motivators for job-hopping include higher pay (56%), improved work-life balance (42%), and better prospects for career advancement (26%).

Additional factors influencing the move are enhanced workplace perks (26%) and fleeing from a toxic work atmosphere (24%). Flexibility is also a lure, yet a traditional 9 to 5 schedule remains important, with 95% valuing this security. The study also highlighted that 76% believe younger employees are more prone to frequently switch careers compared to their older counterparts.

This is reflected in the data showing 39% of respondents across all ages would contemplate a job change, with 65% of those being Gen Z and 32% from Gen X. Nearly half (46%) of Gen Z workers admit they seek new jobs every few years to climb the career ladder, whereas 60% of baby boomers tend to stick with one job for the long haul. Moreover, 44% of participants across all age brackets have switched industries multiple times.

Alexander Allen, managing director and chief customer officer at Funding Circle , an SME finance platform, observed: “Our research shows that people value passion over money when pursuing a job.” He also noted, “It’s been interesting to find out how perceptions compare between different generations when it comes to changing jobs or starting a completely new career.

“Although there are many job opportunities, it’s great to see that culture is highly valued with a combined 50 per cent look to move jobs due to a toxic work environment and better benefits. Yes, money is always going to be a huge draw, but a working schedule that suits the individual and their life outside work, is almost as valuable for some. Knowing what support small businesses need comes through years of experience, and making sure they have the right tools available to succeed is crucial.”

Essex-based small business owner Laura Daly, who tapped into Funding Circle to expand her bridal shop venture, Bellissima Weddings, has a diverse background including stints as a professional singer, dancer, and model, as well as early roles in a supermarket. Laura reflects positively on her varied early career experiences, crediting them with imparting valuable lessons she applies in her current business.

She shared: “When I worked in a supermarket, my task was to engage customers and promote whatever offers there were each day. I learned very quickly that if you engage people in conversation and let them tell you something about themselves first, you can sell something to them much easier than if you jump straight into a sales pitch. In my 20s I was dancing – and I loved every minute of it. The self-discipline and ability to take personal criticism without being offended were lessons that have stuck with me for life.”

Thanks to the backing from Funding Circle, which supports small enterprises with finance to grow and develop their ventures, Laura managed to expand her business. She expressed: “I knew what we wanted, and realised it would take a huge lump of money to do what we wanted to do. We had got to the point where we desperately needed to refurbish the whole shop.”

“I started to look at where we could borrow and I loved the minute we started looking at Funding Circle. I said to my husband Michael if we’re going to take money from anyone, it’s going to be them. I never felt like I’d sold my soul to the bank. It was a completely different way of thinking and it filled me with confidence into actually taking the money.”

Conducted by OnePoll, the research found that a whopping 73% of Gen Z individuals are willing to consider switching to an entirely new career path, yet only a mere 33% of Boomers feel comfortable making such a leap. Over a third (35%) of participants aged between 60-78 reckon their peers place more emphasis on security than change, in stark contrast to just 18% of the younger crowd aged 18-28. Additionally, 37% of the youthful cohort regard frequent job hopping as quite standard – a stance that’s shared by a scant 4% of Boomers.

The OnePoll.com survey also uncovered that 36% of those aged 60-78 believe the job market is tougher for younger generations now than it was when they entered the workforce. Additionally, 30% of all respondents attributed this to the current economic climate, particularly affecting young individuals eager to switch careers.

Laura offered guidance to young job hunters seeking to penetrate the competitive job market, emphasising they should “choose a career path that gives you joy or feeds a passion”.

Furthering her advice, she remarked: “It really is true that if you do a job that you love, it will never feel like work. Scope out organisations and companies that offer upward mobility and in-house training to get you there, there’s never any shame in starting at the bottom – some of the best CEO’s have done just that.”