Home Business News A fifth of UK workers plan to change job in 2024

A fifth of UK workers plan to change job in 2024

by LLB Reporter
29th Dec 23 7:00 am

A fifth of UK workers (21%) plan to find a new job or make a career change in the coming 12 months, according to data released today by Indeed Flex, the online marketplace for flexible and temporary work.

While nearly four in 10 workers (38%) plan to continue in their current role in 2024, 13% intend to move jobs and 8% want a complete change of career.

An additional 6% of workers intend to start a part-time or temporary job alongside their current role, and 5% plan to start their own business. Meanwhile, one in eight (12%) expect to increase their working hours in the next 12 months.

Despite the number of people planning to make job moves in the year ahead, the labour market still faces significant staffing shortages.

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Although the total number of UK job vacancies has dipped, it remains above pre-pandemic levels. The hospitality sector remains particularly affected, with the highest ratio of vacancies (4.8) per 100 jobs.

With consumer prices still rising at nearly double the Bank of England’s inflation target, earning more money is the primary motivator for a third of workers (32%) planning to change jobs in 2024.

A fifth of workers switching jobs or careers (20%) are motivated by the desire to find a role that better fits their lifestyle or offers more flexibility in their schedule.

Novo Constare, CEO and Co-founder of Indeed Flex, said: “As the year draws to a close, many people promise themselves to start the new year with a new job, and our research shows that a fifth of workers have already put ‘get a new job’ on their 2024 to-do list.

“The headline rate of inflation is easing but prices are still rising, so it’s no surprise that earning more money is the main motivation for people wanting to move jobs – but many are also searching for more flexibility and a better work-life balance.

“Despite the number of people planning a job move, many employers will still be struggling with staff shortages in the year ahead.

“That’s why temporary workers will remain a crucial part of the labour market, as they provide an immediate and flexible solution to gaps in staffing.”

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