Career changers come from all ages, stages and professions. Sometimes people are lucky enough to choose to change careers, and other times they are forced to make a change because of labour market shifts (people in the printing industry, for example) or changing circumstances (immigration, divorce, or becoming older in a youth-oriented industry such as IT, the fitness industry or fashion). As an Employment Counsellor, I often work with people who find themselves in the middle of an unplanned career change, daunted at the prospect of finding a new industry that will value their skills and understand the transferability of their experience.
Change can be exciting, but it’s also quite frightening, especially when it comes to work and financial security. Facing a career change that you did not choose can be terrifying, though looking back, many changers tell me that they were glad they did it: a career change can result in exciting challenges, meeting new people and mastering new skills.
Recently, LinkedIn recently looked through their 300,000+ profiles to identify some patterns for switching industries. They reviewed all those who had added a new position at a company in a new industry within the past year (January 1 to December 31, 2014) . They found some interesting trends about switching industries.
Much has been written in recent years about little value is placed on staying in the same company; in fact, studies have shown that staying employed at the same company for over two years could result in earning less over a lifetime by about 50% or more. People are changing careers every five years or so, transferring their skills to new industries more often than ever before.
LinkedIn’s study found that the following industries are hiring more people from different industries:
Specifically, they found that:
- The Internet industry has welcomed “brand specialists arriving from Retail and business development/strategy professionals arriving from Management Consulting.”
- Employees joined Venture Capital “from nearly every industry – from Food & Beverages to Financial Services. VCs need a diverse set of experts to properly source and evaluate new opportunities, as well as manage current investments through mentor, advisor and board positions.”
- Unsurprisingly, Online Media has absorbed “talent from traditional industries such as Publishing, Newspapers, and Broadcast Media at a fast clip. Writers, editors, and creative directors are flocking to these energized organizations.”
- Employees from Education Management have found a new career in E-learning, with roles for “content developers and partnership managers.”
Career changers might benefit from looking carefully at these industries as possible targets. Changing careers isn’t easy though; it needs a carefully planned, strategic and very deliberate approach. For tips and strategies for career change, keep an eye on this blog!