Most will have seen the recent news that the UK’s employment rate is at its lowest for almost 50 years. Whilst this will obviously be talked up as positive news by the Conservative government, low unemployment rates aren’t unanimously good news. In fact, many experts believe that such rates can lead to both inflation and low productivity, and in a country teetering on the brink of a recession, this could be a rather ominous warning.
If you currently feel like you’re stagnating, overworked, underpaid, or all three, then you might be considering using this period of recent upheaval as the catalyst for a career change you’ve been longing for.
The work/life balance, pros and cons of working from home, and an increased desire for financial stability have all been drawn into sharp focus in the last two years, with Brits making drastic reappraisals of the very meaning of ‘work’ as the pandemic slowly fades away in life’s rearview mirror.
As we look forward at the open road ahead, full of warnings about the cost of living crisis and continued global turmoil, it’s important to remember that leaping into a new role requires some serious thought Not a decision to be taken lightly, here are 6 things to consider if you’re thinking of a career change.
Play The Long Game
We all need to be playing the long game right now. But under duress and stress, impulsive, reckless decisions are sometimes made. This thing’s a marathon, not a sprint, and a sudden swerve right now may well put you so far off track you’ve left the stadium.
It’s prudent to ask if you can afford a period of lower wages, education, training and the rest, during a cost of living crisis. Following your dream is, of course, to be commended, but right now it’s a decision which needs to be taken with a supplementary dose of realism. So, instead of handing in your notice before securing a role along your new chosen career path, have a contingency plan in place to ensure you don’t suffer financially from your choices.
Do You Prioritise A Better Quality Of Life Or More Disposable Income?
This is the big question the pandemic and subsequent cost of living crisis has forced us all to consider; whether this state of topsy turvy turmoil has impressed the need for financial stability more keenly, or if quality time with the family and an increased focus on self-care should now be life’s priority.
It’s likely true that the most common catalyst for a career change is financial. The highest earning jobs in the UK tend to be managerial or medical, and take years of costly education, career progression or (regrettably) nepotism to achieve. Ask yourself if a sudden career change will give you enough of a financial boost to satisfy that desire for a more disposable income.
On the flip side, should a better quality of life be the driving force behind your decision to change careers, do endeavour to research the hours expected of your new role, not only the ‘nine to five’ element, but also training, extracurricular elements and take-home expectations.
Let’s state that the two are not mutually exclusive. A 2017 study into high-paying jobs which clock in relatively short hours (less than 40) found that careers in dentistry, pharmacy, and some more technical writing disciplines all paid handsomely. Food for thought, indeed.
Are You Ready To Update Your Skillset?
Learning a whole new skillset or earning the degree or diploma required for a career change, with all the training, study, and hard graft that entails, can be both challenging and hugely fulfilling. Ask yourself if you have the time (and, often, the money) available to commit to this period of learning.
If you do, then embrace the chance to update your skillset full throttle, whether that’s a very job-specific endeavour like learning to code on online platforms like EPICODE, or something broader like working on your soft skills or getting to grips with the ins and outs and running your own business. The Open University offer courses on both and so much more besides, with 5% of their courses completely free.
The Incentives Of A New Role
Other than an increase in salary or gain more freedom timewise, what other incentives are you seeking in your new role?
Prior to committing to a new career or signing on any dotted lines, do ensure that you find out what benefits, incentives and employee packages are provided by the company, such as pension contributions, a company car or health coverage, as these can have a huge difference on your quality of life well beyond the simple aspect of salary and hours.
Take into account that some incentives may not be detailed on the job listing, and however unethically, are only offered to a candidate who demands them, both in their skillset and actually, verbally demands them.
A Change Beyond Career
Though so many of us are feeling a little hollow right now, and questioning the very fabric of our existence, our place in society, and what the future holds, be warned that you may not find the answers in switching careers. Instead, a wider audit of your life might be necessary to deal with some of the more searching questions which lockdown, isolation, furlough and the ongoing cost of living crisis have posed.
Would a more all encompassing lifestyle change give more meaning? There’s so much to be said for self care, for getting fit and mindful, inside and out, which may bring deeper, seismic shifts to your outlook. Sometimes, the answers lie within.
Treat This As An Opportunity, Not A Necessity
If you’re feeling pressured to change career, the decision may be rushed and you run the risk of selling yourself short. You might end up with a new role which doesn’t do your skills and resume justice, because you let your desperation show.
Instead, try to embrace a career change as the bringer of possibility and opportunity, and a chance for self improvement and professional development. This mindset will have you on the front foot in the job hunt and supremely confident in interviews. To totally mangle a JFK phrase, ”Ask not what you can do for your career change, but what your career change can do for you”.