Amidst ongoing economic uncertainty, 3 in 10 (30%) of professionals are worried about their job security, leading more than half (54%) to lean on their professional networks more. The research, released today from leading events business, Hyve Group, indicates that a notable proportion of the UK’s 30 million strong workforce1 is nervous about the months ahead. The concern about job security peaks among younger workers (61% 25-34 year-olds) dropping to 42% in among the over 55s.
Looking ahead, nearly three fifths (59%) of those polled think their professional network will help them find a new role in the future, this figure peaks at three quarters (72%) among 25–34-year-olds. Over half (54%) of all respondents’ report valuing their professional networks more as they move through their careers.
The emphasis on the power of networks for future roles compares to just a fifth (19%) who have used their professional connections to help find a role to date.
Mark Shashoua, CEO of Hyve Group, commented: “For those currently experiencing job insecurity, the importance of a network is in the spotlight more than ever, with crucial opportunities resulting from well nurtured connections. There are multiple ways to grow your network – from forming bonds with current and former employees to connecting with industry peers at events or through mentoring opportunities – it is important workers start forging these connections early on in their careers and that we all maintain them throughout.”
When asked about what factors would motivate them to move roles, 54% stated an increased salary would motivate them, followed by 31% who said an improved work life balance would be vital. Just over a tenth (13%) said they would be motivated by finding an employer more aligned with their personal beliefs. This figure is higher among millennials, with 19% saying they’d be motivated by ethics when looking for a new job. This compares to just 8% of the over 55s.
Mark Shashoua, CEO of Hyve Group, added: “We know that what motivates people to want to work for companies differs through the generations and the trends around work life balance and value-based decisions has accelerated in recent years. Younger workers are more likely to seek out employers that align with their ethics while irrespective of age, 31% are motivated by an improved work life balance. The personal and professional networks you grow over time can often be the key in unlocking career opportunities which align with your values.”
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