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Your talent: 68% would consider career change; many organizations plan salary increases to attract new employees

Some 68% of workers would consider changing careers, and an additional 19% would consider changing careers for an “amazing opportunity” with better work-life balance and higher pay among the top reasons, according to a report by FlexJobs. Only 5% say they are currently happy in their profession.

FlexJobs’ survey included 4,612 workers and ran from July 21 to Aug. 9.

“Since the pandemic started, our coaching team experienced an uptick in the number of people seeking information about what’s involved in changing careers, and how to do it successfully, and those requests have really spiked in the last month,” said Brie Reynolds, career development manager and coach at FlexJobs.

Top reasons for changing careers included:

Most workers are relatively optimistic about changing careers with 28% saying their skills are easily transferable and 53% saying that changing careers will be tough but manageable. However, 19% said changing careers will be hard and aren’t sure it is going to work.

Salary Increases

Separately, a survey by Salary.com found that 62% of organizations in the US plan to increase base salaries to attract new hourly and salaried employees within the next six months. And 67% said their starting base salaries are above the market reference point.

Salary.com also found that 50% of companies are offering signing bonuses, although only 20% plan to continue at the end of the year.

Hourly employees are getting a median bonus of $1,000 while salaried employees are getting a median bonus of $5,000.

In addition, 21% of companies are offering retention bonuses, according to the survey.

“The prevalence of signing bonuses to attract workers in high demand and short supply has proven to be a short-term phenomenon, as organizations move to a post-pandemic reality,” said Garry Straker, compensation consultant at Salary.com. “The shift to salary increases for new hires will have greater long-term impact, so organizations will have to move with care to attract new hires while retaining existing employees.”

Salary.com’s survey took place between June 9 and July 15, 2021. It included 405 organizations in the US and Canada.

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