Covid-19 recession leads to spike in London workers seeking a career change

With ONS (Office for National Statistics) figures today revealing a sharp rise in unemployment, new research has shown that 22% of Greater London workers believe their job is at risk due to the coronavirus (Covid-19) pandemic; while 26% have thought about a change of career this year.

The research, conducted by AAT (Association of Accounting Technicians), surveyed over 1,000 current workers across the UK to ascertain their views on how the events of 2020 have made them consider their career. It also found:

The health and pharmaceutical sector is seen as the most secure by current workers in Greater London (25%), followed by accountancy, banking and finance (20%), energy and utilities (18%), and education (17%)
36% said that job security will be a greater priority for them, once the pandemic comes to an end
28% believe that they will leave their current job within the next year

In addition, a second survey conducted by AAT of 500 UK adults who are currently looking for a new job found:

66% of those surveyed in Greater London said that the Covid-19 pandemic was the reason that they are looking for a new job, compared to 51% nationally
73% say they are considering moving into a more secure sector than their previous role
90% say they would be willing to retrain in order to make a career change

With sectors including travel, hospitality and the arts hit especially hard by the pandemic, retraining opportunities, largely provided by vocational qualifications including apprenticeships, are rising in popularity.

Rob Alder, Head of Business Development at AAT, said:

“The impact of Covid-19 has acted as an accelerator for important career decisions, with many people across a vast spectrum of industries facing the prospect of losing their jobs, and in some cases seeking employment in more secure sectors.

“This backs up what we’ve seen recently, with nearly one in three people who’ve contacted AAT about our accounting and bookkeeping qualifications telling us that they were looking for a career change into the finance industry.

“And while a significant chunk of this is due to people losing their job, with many using their redundancy money to fund their studies, others are viewing accountancy either as a more secure career path, or are hoping to gain new finance skills to improving their chances of employability.”

%d bloggers like this: