McDonald’s new research reveals
Almost a third (29 per cent) of senior decision makers are likely to consider a career change in the next five years with 43 per cent of managing directors thinking about a second career, according to new research released by McDonald’s UK.
The research found that a quarter (25 per cent) of senior company executives over 40 are likely to want to follow a new career path – evidence that career restlessness often associated with the young, is being echoed amongst the more experienced in business.
The key triggers for senior decision makers planning a second career are:
- Frustration with company decisions such as frequent strategy changes (50 per cent)
- Unfulfilled personal ambitions (49 per cent)
- Lack of time with friends and family (40 per cent)
- Insecurity due to constant corporate reorganisations (34 per cent)
- Travel demands (30 per cent )
Over half (53 per cent) of senior decision makers polled stated that they would consider a new role to establish a better work / life balance (52 per cent), take more personal control over their working life (44 per cent), or maximise their skills and expertise in a way that isn’t possible in their current role (34 per cent).
Due to a feeling of lack of business control, almost a fifth (17 per cent) of respondents would consider changing career to become a franchisee. Benefits amongst senior decision makers include having a proven business model (58 per cent), it being lower risk than setting up a new business (49 per cent), getting to own your own business (38 per cent) and having access to training and support (41 per cent).
Jason Clark, McDonald’s VP for Franchising, said: “Unsurprisingly, at a time when certain macroeconomic trends are causing uncertainty in business, many senior executives are finding themselves wanting a change in direction – a second career. Many of our franchisees were already operating successful businesses before they came to us, whilst others have come from prominent careers in the private and public sectors.”