‘The Great Incorporation’ – a third of Brits trained to start their own business
With ‘The Great Resignation’ in full swing, a report by Go1 shows that nearly half (45%) of Brits are taking additional steps to upskill in the hope of changing careers.
Whilst high amongst those aged 25 to 44, the report also found one-in-five workers over the age of 55 are considering a career change too, showing the scale of the resignation isn’t just impacting the young.
Whilst ‘The Great Resignation‘ has been well documented, there is also ‘The Great Incorporation’ going on, with a record number of Brits launching businesses in 2021.
Data from Companies House show 810,316 new businesses were incorporated, an increase of 21%, a new record. Go1 data shows that a third of Brits (32%) undertook training to launch their own company, suggesting this trend is showing no signs of abating and could lead to a new generation of British entrepreneurs.
Mental health and work/life balance continue to be an important topic of conversation for employers and employees across the country, and the report shows half (50%) of Brits have experienced better mental health as a result of learning a new skill.
Soft skills dominate also, with 50% of learners taking a course in topics such as people skills, listening skills and empathy. What’s more, nearly two-thirds (64%) wish soft skills were taught in schools, showing a significant gap in education that is being carried through into the workplace.
Of the top five eLearning courses, people and communication skills (13%) sit high followed by leadership (11%) showing that interpersonal communication are dominant areas the nation wishes to be better equipped.
“Continued learning is one of the most important aspects of our professional and personal wellbeing,” said Chris Eigeland, CRO and Co-founder of Go1. “Our research shows that you’re never too old to learn, to change careers or even to launch your own business.”
“Seeing interpersonal and wellbeing skills so high on the list of Brits’ priorities is also really positive and shows how far the conversation around supportive, inclusive and empathetic workplaces has come; something we feel incredibly passionate about at Go1.”
More findings from the report include:
- Age is perceived as a learning hurdle
- 43% of workers avoid taking a course because they believe they are too old to learn something new.
- When you break it down by gender, more men believe they are too old to develop a new skill than their female counterparts. In fact, this rang true for nearly half of men (46%) who believed they could not learn something new because of their age, while only two in five (40%) of women believed their age was a deterrent to learning new skills.
- Surprisingly, when broken down by generations, 27% more millennials cited age as a learning hurdle than older GenXs and beyond (55+). Over half (51%) of millennials thought they were too old to learn a new skill vs. only 24% of Gen X’s and beyond.
- Starting within the workplace, nearly 38% of employees reported a promotion after taking an online course.
- On the other hand, almost 60% of late millennials and early GenX (35-44) learned a new skill to change their career. Meanwhile, for older GenX and beyond (55+), 22% admitted to and have actually learned new skills to change their career.
- GenZ (16-24) have taken the extra mile from career changes and have become business owners. More than 43% cited learning new skills helped them start their own business.
- Much of this renaissance for learning new skills stemmed from the COVID-19 pandemic as it encouraged 50% to learn more digital skills and 34% to take an eLearning course while they were furloughed.
The top 5 skills users are learning include:
- Health, safety & wellbeing (24%)
- IT software (14%)
- People & communication skills (13%)
- Leadership (11%)
- Sales & customer service (10%)
The top 10 skills people want to learn include:
- IT (22%)
- Problem Solving (19%)
- Motivation (18%)
- Language (18%)
- Management (17%)
- Positivity (17%)
- Leadership (17%)
- Writing (16%)
- Creative Thinking (15%)
- Communication (14%)