New research by The Recruit Venture Group has uncovered the truths behind Brits’ career aspirations.
The research found that 70% of employees are doing jobs they don’t want to and that a third of full-time employees secretly want to start their own business.
It also found that business owners are most likely to say they’re in their dream job, however, 10% of employees don’t want to start their own business over the uncertainty around Brexit.
The research shows that business owners are six times more likely to be in their dream job than employees (74% saying they’re in their dream job vs just 13% of employees). It seems Brits have taken to starting their own company to create their dream job rather than searching for it elsewhere; 39% of side business owners say that their side business is their dream job and 31% of full-time employees want to start their own company rather than staying in employment.
The main reasons for not taking their side business full-time were money, family arrangements and friends at work. These echo the reasons for employees not starting their own business which were:
- Lack of capital (58%)
- Fear of no regular income (43%)
- Fear of failure (42%)
Almost one in ten don’t want to start a company because of uncertainty around Brexit.
Despite not being in their dream job, a quarter of employees do want to stay in their current job, with the top reasons for staying being:
- Money (37%)
- Location (27%)
- Family Arrangements (21%)
- Lack of skills required to obtain the job of their dreams (20%)
- Unsure how to achieve the job of their dreams (19%)
The research also looked at how dream jobs have changed from when Brits were children to now, with the most desired jobs for each being:
|Dream job as a child||Dream job now|
|1||Education / Teaching||Education / Teaching|
|2||Nurse||Vet / Animal related|
|3||Doctor||Business owner / CEO (non-specific)|
|4||Footballer||Travel / holiday rep|
|5||Vet / Animal related||Lawyer|
Age seems to have an impact on changing career with over-45s are most likely to fear it’s too late to change careers, although surprisingly 10% of 18-24-year olds also fear it’s already too late. Almost half of 65+ year old employees aren’t in their dream job with 35% thinking it’s too much hassle to find another.
71% of employees weren’t always sure on what career they wanted but over half (55%) of business owners always knew they wanted to have their own company.
As a third of employees admitted to secretly wanting to start their own company, they were also asked which products or companies they wished they’d invented, with technological advancements being the most popular:
- Mobile phone
Paul Mizen, Managing Director at Recruit Venture discusses these findings: “Initially we predicted that more employees would be unhappy in their job over business owners, but we didn’t expect it to be that high. It seems that many people could be happier by starting their own company and looking at the statistics we have got back from business owners, employees should think about their options and work out if their dream job is feasible by creating their own business and if so what the next steps towards this goal could be. There is always another option and a different career path has no age limit, especially when looking at setting up your own company.”