Economic Downturn Equals Career Upturn as One in Five GB Workers Consider Career Change

Rise in New Businesses Predicted As We Emerge from Recession - According to

Monster.co.uk’s Keep The UK Working Research

 - 20% of GB workers have changed or are considering career change -

- 68% of polled GB workers recently made redundant are considering career change -

- 21% of GB workers are looking for jobs that are more creative and fulfilling -

- 22% of respondents in the North likely to make career move compared to 18% in London

- 15% of GB workers have started or are considering starting their own business as a direct

result of the recession -

 London, 27 August 2009 – According to Monster.co.uk’s Keep The UK Working research, which

carried out a YouGov poll on 2,505 GB adults (1,626 workers), the British workforce is likely to emerge out of the ashes of the current recession happier with their jobs than they were before. We are also likely to see a wave of new businesses set up as we come out the other side of the recession.

Monster.co.uk’s Keep The UK Working research found that 20% of GB workers have either changed careers or are considering a career change as a result of the recession. Among respondents who have recently been made redundant this figure rises to a massive 68%. Tough times are also unleashing an entrepreneurial spirit with 15% of GB workers considering starting their own business as a direct result of the recession.

As expected in these difficult times, the top two reasons for changing careers are better pay (33%) or improved job security (28%); however, 21% of respondents are looking for opportunities that are more fulfilling or creative, suggesting that job satisfaction is increasingly motivating career choices.

While respondents based in London are less likely to make a career move (18%), those polled in the North (22%) are more adventurous, with the Welsh being the most likely to go out on a limb and try something new (26%). Unsurprisingly, the age group most likely to change careers are those between 18 to 24 years (31%) but even workers at a later stage are having a career re-think.*

 Among those looking to start their own business, Londoners proved to be the most entrepreneurial with 19% of those surveyed considering starting their own business as a direct result of the recession, closely followed by the Midlands (18%) and Scots the least (11%).

 “In many ways, career choices are some of the most defining decisions people make. In the face of economic uncertainty you might expect to see people stay entrenched in their current jobs and ride out the storm, but our research suggests that contrary to this the UK population who are currently working are in fact more open to career change than you would expect in the current climate,” said Julian Acquari, Managing Director of Monster UK and Ireland.

 

*% by age group:

_ 25 – 34: 23% have changed or are considering career change as a result of the recession

_ 35 – 44: 22% have changed or are considering career change as a result of the recession

_ 45-55: 19% have changed or are considering career change as a result of the recession

_ 55+: 10% have changed or are considering career change as a result of the recession

For more information see www.keeptheukworking.co.uk.

 

About Monster’s Keep The UK Working Campaign

Monster.co.uk is providing job seekers with the opportunity to get back to work by connecting them with prospective employers face-to-face at a series of Careers Fairs in the UK, as part of Monster’s “Keep The UK Working” initiative. The Career Fairs are free to attend and exhibit, and give job seekers access to free expert advice tailored to their needs. Details of location and dates are as follows:

_ Birmingham: Saturday 5th September 2009 - The ICC, Broadstreet, Birmingham, B1 2EA London

_ London: Monday 7th September 2009 - Business Design Centre, 52 Upper Street, London, N1 0QH

_ Glasgow: Wednesday 16th September 2009 - Thistle Glasgow, Cambridge Street, Glasgow, G2 3HN

_ Manchester: Monday 21st September 2009 - Ramada Manchester Piccadilly, Portland Street, Manchester, M1 4PH

 

About Monster UK

Monster.co.uk is the local content website for Monster, the premier global online employment solution for more than a decade. Monster UK works for everyone by connecting quality job seekers at all levels with leading employers across all industries. For more information see www.monster.co.uk or call 0800 781 4377

 

About Monster Worldwide

Monster Worldwide, Inc. (NYSE: MWW), parent company of Monster, the premier global online employment solution for more than a decade, strives to inspire people to improve their lives. With a local presence in key markets in North America, Europe, and Asia, Monster works for everyone by connecting employers with quality job seekers at all levels and by providing personalized career advice to consumers globally. Through online media sites and services, Monster delivers vast, highly targeted audiences to advertisers. Monster Worldwide is a member of the S&P 500 index. To learn more about Monster's industry-leading products and services, visit www.monster.com. More information about Monster Worldwide is available at http://about-monster.com.

 

YouGov Plc Research

All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2,505 adults (1,626 workers). Fieldwork was undertaken between 17th - 20th July 2009. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).

 

CONTACTS:

Charlie Meredith-Hardy

Weber Shandwick

+44 (0)20 7067 0647

cmeredith-hardy@webershandwick.com