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.