Vauxhall Motors Research Reveals Generation X Are Job Hoppers Moving into the Fast Lane

  • Over a third of forty-somethings are seeking university-level education or professional qualification in the next 24 months
  • Almost half of Gen-X are likely to start their own business in the next ten years
  • More than half of Gen-X believe a ‘job for life’ culture stifles development, with one in five planning to move industry sectors in the next two years
  • Vauxhall Insignia has partnered with Management Today to launch the Changing Lanes report, uncovering trends in the UK workplace

LONDON--()--With the spotlight often shining on the generation of ‘millennials’, the workplace trends of Generation X are often overlooked. New research released from Management Today, together with Vauxhall Motors, reveals the career ambitions, the opportunities and challenges, of the 40 something generation. Launching its new Insignia Grand Sport, Vauxhall Motors’ flagship vehicle, the research shows Gen X also adopting the freedoms of millennials to job hop, switch careers, launch businesses and to study. The rise of Every-Age Entrepreneurs, Knowmads, Slash Careers and the Career Cycle proves that 40 somethings are just as hungry as their younger counterparts.

Every-Age Entrepreneurs

The findings show almost half of this generation plan to start their own business in the next 10 years, with a huge 70% looking for a “major change”. Supported by other surveys1, the age for starting a business is not mid 20s, but mid 40s. Often with a family to support, Gen-X professionals believe owning a business will bring freedom and flexibility into their lives, with the main motivations being doing interesting work (52%), being your own boss (61%) and being challenged (49%). The valuable combination of financial security and business experience gives this generation the opportunity to design the next chapter of their career.

British Entrepreneur and Investor, Sarah Willingham says “No one should feel like they should stay in a career that they are not passionate about, whatever their age. Ambition, charisma and an awareness of your own individual talents are all factors that people need to succeed, whether they start their career at 18 or 48. The idea that we should only have only one career path is as outdated as the idea that we should have only one life path. Life changes as you go through various stages, and no single ‘career path’ is adaptable enough to be compatible with these constantly changing phases. It is easy then to see why people in their 40s are exploring different professions; as life changes, so can your career.

As an employer, and as someone that has always encouraged (and at times actively invested in) people following their career ambitions, I can think of nothing more important in business than discovering your passion and using your strengths to make it a reality”.

Death of the Traditional Career Path

Capable and curious to explore all avenues, the findings show that Gen-Xers have itchy feet and are no longer following a career ‘path’, but rather embracing an ongoing and ever-evolving career ‘cycle’. With over half (56%) of older professionals believing a job for life culture stifles development, it’s no surprise that more than 1 in 5 are planning to change careers in the next two years, with 20% planning to move sectors altogether.

When looking at the driving force behind changing careers, the research reveals job satisfaction (66%); a better work life balance (60%); reward packages (50%) and flexible working hours (42%) are the most important factors for 40-somethings – a clear indication they are working to live, not living to work.

A generation of Knowmads

With employers demanding diverse skillsets in this increasingly competitive market, Gen-X are acutely aware how crucial it is to stay informed and more importantly, to stay relevant in the workplace. Eternal students at heart, the research reveals that 36% are seeking a university level education or professional qualification in the next 24 months, with 43% wanting the opportunity to learn and grow in their next career.

Slash Careers

With digital technology driving the UK’s entrepreneurial ecosystem, the research found that Gen-X are turning their personal passions into viable career paths. A third of 40-somethings have a hobby that they intend to earn a second income from, with 7% already doing so. Over 60% of Gen-X are legally allowed to earn a second income, and when asked about the benefit of turning a hobby into a second income, 23% said this would be to eventually turn the hobby into a full-time career – reaffirming the trend of doing what you love, and loving what you do.

Vauxhall Motors and Management Today have conducted this research to look at the changing landscape of the UK workplace. Launching this summer, the Insignia Grand Sport - Vauxhall’s most popular company car, keeps business people moving across the country every day. Serving as a modern business tool, it’s complete with fully integrated 4G WiFi and OnStar.

Denis Chick, Director of Communications at Vauxhall Motors, says: “As the Insignia Grand Sport sees more business than most cars in the country, we felt, together with Management Today, well positioned to take a closer look at the UK’s changing work landscape. Aiming to uncover the key trends and opportunities for older professionals, it’s great to see such strong findings that really do prove that the world is your oyster, whatever the age”.

Together with Management Today and its readers, Vauxhall Insignia has identified 40 inspirational business men and women over the age of 40, who are leading the way in the UK workplace and who embody the trends unveiled. Find out more at www.ManagementToday.co.uk/Insignia.

ENDS

*The Vauxhall / Management Today research was conducted amongst over 500 professionals during June 2017.

About Vauxhall:

Vauxhall Motors has been manufacturing motor vehicles in the UK continuously since 1903. Vauxhall’s range spans all mainstream sectors of the vehicle market with best-selling model names such as ADAM, Astra, Corsa, Cascada, Mokka X, VIVA, Zafira Tourer and Insignia Grand Sport regularly topping the sales charts. Vauxhall is also the largest manufacturer of commercial vehicles in the UK and its parent company General Motors’ 4th largest global market. The company employs c5000 people in the UK and exports three quarters of its production. It is headquartered in Luton, Bedfordshire where it also manufactures the Vivaro light commercial vehicle. A second plant at Ellesmere Port in Cheshire produces the Astra and Astra Sports Tourer.

1 Portrait of successful business founder revealed, Sandler Training (UK)

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Kaper
Dana Leigh
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0203-3301-2210

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Contacts

For more information:
Kaper
Dana Leigh
dana@kaper.uk.com
0203-3301-2210