Why do you work? For the sheer love of it or because you have bills to pay?
According to a recent survey by Paymentsense, 72% of those surveyed said they woke up and got to work simply to pay the bills. But 64% were, in fact, happy in their roles. Surprising? Probably not. I am happy in my job and like many, I find it interesting and stimulating. But to be honest, I do work as I have bills to pay. And on the odd occasion that the promise of riches from the lottery become too tempting and I remember to buy a ticket, my dream is not to continue working 9 - 5.30 as a multi-millionaire.
What is really surprising in the survey, is that according to the 2000 people surveyed, the career peak occurs at 42 years old and this is when you start to lose passion for your work.
What...?!! Time to re-engage people, I'd say. If we are going to stay in the job market until our mid to late 60ies - and possibly into our 70ies, employees can't spend more than 20 years thinking 'that's it' and employers can't afford to miss out on engagement from such an experienced pool of people.
Here's what the survey says:
At this age, opportunities to progress seem to be rare which is why when asking those in their 40’s why do you go to work every day, a huge 76% say to be able to afford to live. 51% say they need to just pay the mortgage and 57% have responsibilities to support the family.
Just 11% of those in their 40’s say they are passionate about their job and a mere 14% want to build their career.
Those that have reached their ‘career peak’ say having 20+ annual holiday days (47%) and a well-paid salary (65%) is more important to them than opportunities to progress (5%).
19% of Brits overall face little to no progression opportunities and of those that attended University – 67% said their degrees went to waste and work in a role completely unrelated.
So what is the most important aspect of a job according to employees in the UK?
A whopping 86% of participants say money is the most important when it comes their job. However, 72% say it is also important to have a good pension scheme and 20+ holiday days too (79%).
More than 1 in 3 say a good maternity scheme is important to them so that they are covered financially when they decide to have a child. And 1 in 4 (25%) say childcare schemes are too! 22% of young workers (25-34 year olds) are motivated by having more responsibility and 19% are motivated by progression (18-24 year olds).
Read the full survey from Paysense here: https://www.paymentsense.co.uk/blog/why-do-we-work/
Top 5 reasons why Brits go to work each day To be able to live – 72% To support family – 50% To pay the mortgage – 50% To build career and knowledge – 21% Passion for the job – 16%