Nearly half of UK employees are looking to change their careers, according to the latest findings from LHH, a leading integrated talent solutions provider and a global business unit of the Adecco Group. The insights come from LHH’s annual Global Workforce of the Future Report 2024, which investigates the evolving work landscape from the workers’ perspective.

Job Security Amid Market Insecurity

The global employment landscape has undergone significant changes, heavily impacting UK workers. A notable 54 percent of employees feel that external factors such as company strategy, performance, and economic conditions exert more control over their careers than they do themselves. Despite these challenges, nearly half (49%) of UK employees want to change their careers but remain uncertain about which path to pursue. Additionally, 20 percent spend time weekly contemplating their career plans.

Investing in Talent

Retaining top talent is crucial for organisational stability and growth. Encouragingly, the report reveals a strong desire among UK employees for development opportunities. Over two-thirds (68%) believe that companies should prioritise training, upskilling, and developing existing employees for various roles within the organisation before considering external hires.

Moreover, the prospect of a new career or profession inspires over half (58%) of UK employees to learn new skills outside of their current job roles. However, nearly half (47%) aspire to move into management positions but feel hindered by a lack of leadership development opportunities.

JC Townend, CEO of LHH, emphasises the importance of investing in employees: “Companies are finding it increasingly important to invest in their workforce. Their most ambitious employees are often their best, and providing development and support for their career advancement is key to retaining them. Rapid changes in technology, regulations, and job responsibilities mean that existing employees need to be reskilled to perform their jobs effectively. To enable UK workers to thrive, we must ensure they have opportunities for career progression and development.”

Enabling the Leaders of the Future

Leadership development remains a significant focus for HR leaders. LHH’s ICEO 2024 research indicates that 69 percent of HR senior leaders in the UK have formal executive development programs in place. Despite these efforts, challenges remain, with 20 percent identifying the underrepresentation of women and other diverse groups in senior executive positions as a barrier. However, 36 percent of HR leaders feel they have the necessary support to overcome these leadership challenges.

As organisations navigate the complexities of the modern workforce, investing in the development and progression of employees will be crucial to fostering a resilient and future-proof workforce. The findings from LHH’s Global Workforce of the Future Report 2024 highlight both the aspirations and obstacles faced by UK employees, underscoring the need for strategic talent management and development initiatives.

 

 

 

 

Amelia Brand is the Editor for HRreview, and host of the HR in Review podcast series. With a Master’s degree in Legal and Political Theory, her particular interests within HR include employment law, DE&I, and wellbeing within the workplace. Prior to working with HRreview, Amelia was Sub-Editor of a magazine, and Editor of the Environmental Justice Project at University College London, writing and overseeing articles into UCL’s weekly newsletter. Her previous academic work has focused on philosophy, politics and law, with a special focus on how artificial intelligence will feature in the future.