New research conducted by AAT shows that recession is causing a spike in workers seeking a change of career.
One in five employees is currently considering a new career as the economic impact of the coronavirus pandemic bites. A similar number see accounting as one of the ‘most secure’ sectors, behind health and pharmaceuticals, and teaching.
The research surveyed 1000 adults currently in employment.
19% of workers believe their job is at risk due to the coronavirus (Covid-19) pandemic; while 23% expect to leave their current job during the next year.
Increased job security will understandably be a high priority – 32% cited this as a goal once the pandemic comes to an end.
A second complementary survey looked at trends among job seekers.
The poll took in 500 UK adults and found:
- Half were looking for a job because of the Covid-19 pandemic.
- 6 out of 10 are moving in order to find work in a more secure sector.
- 85% 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.”
Adam Harper is AAT's Director of Strategy and Professional Standards.