In a job market where talent is scarce, it helps if you can broaden your search for candidates by tapping into other sectors. A recent survey that we've conducted by Page Personnel shows that there is a huge group of candidates that are willing to change to another industry, given the opportunity.
Traditionally, following a career path meant starting at the bottom and slowly working your way to the top. There was nothing unusual about working in the same sector, and often at the same company, for the whole of your professional life.
Our recent research shows that today’s job market is much more dynamic. Hopping from job to job and sector to sector is often seen as a mark of success.
This is good news for employers who are looking for new talent, because that means that the pool of potential candidates gets bigger. We listed the most important findings you should know if you want to look for candidates outside of your own sector.
1. Almost half of the job seekers today have moved to a different sector
The days when a successful career was mostly defined by its stability — start in an entry-level position at a family firm and work your way up — are gone. Almost half (50,7%) of the candidates we polled said they had moved to a different sector since starting their careers. However, changing sectors is not the only way to thrive, with 40,3% of respondents saying they had received a promotion in the same company.
2. Changing career is often a snap decision
Around 28% of the candidates say that it took them several months or years to make up their minds, against 48% who were spurred on by a specific event, such as losing a job (22,9%), suffering a COVID crisis (10,4%) or being impacted by a company’s culture or structure (22,9%).
3. Peak of employees looking for other employers after 3 and 5 years
We asked candidates how long they would stay in the same position before considering a move. Over one-third (35%) of candidates chose a duration between three to five years, with three years the most popular answer. On the other hand, 36,8% said that it depended on the dynamics of the company, suggesting that a flexible mindset is a must-have skill when mapping career paths.
4. Good fit for skills and work-life balance biggest attracters
What are people looking to find in a new job or career? Almost half (48%) of job seekers is looking for a company where there is a better fit with their skills and interest. Another big attractor is a good work-life balance (40%). The ability to make an impact and feel useful is important to almost a third (30%) of the respondents
5. A purpose is important to attract candidates
However, professional growth is far from the only priority for today’s job seeker. Many candidates yearn for a sense of fulfilment in their working lives. Almost 24% want to work for a company with a strong purpose, while 34% are looking for a career that better aligns with their personal values. Outside interests and responsibilities are essential, too, with 40% of candidates looking to achieve a better work/life balance in their new career.
Summary
In a job market where talent is scarce, it helps if you can broaden your search for candidates by tapping into other sectors. A recent survey that we've conducted by Page Personnel shows that there is a huge group of candidates that are willing to change to another industry, given the opportunity.
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