Research released by McDonald’s UK reveals that almost a third (29%) of senior decision-makers are likely to consider a career change in the next five years, with 43% of managing directors thinking about a second career.
The research, published to mark 30 years since McDonald’s franchised its first restaurant in the UK, found that a quarter (25%) of senior company executives over 40 are likely to want to follow a new career path – evidence that career restlessness often associated with the young,is being echoed amongst the more experienced in business.
The key triggers for senior decision makers planning a second career are:
– Frustration with company decisions such as frequent strategy changes (50%)
– Unfulfilled personal ambitions (49%)
– Lack of time with friends and family (40%)
– Insecurity due to constant corporate reorganisations (34%)
– Travel demands (30%)
Over half (53%) of senior decision makers polled stated that they would consider a new role to establish a better work / life balance (52%), take more personal control over their working life (44%), or maximise their skills and expertise in a way that isn’t possible in their current role (34%).
Due to a feeling of lack of business control, almost a fifth (17%) of respondents would consider changing career to become a franchisee. Benefits amongst senior decision makers include having a proven business model (58%), it being lower risk than setting up a new business (49%), getting to own your own business (38%) and having access to training and support (41%).
Jason Clark, VP for franchising south for McDonald’s franchising, said McDonald’s was keen to position itself as a viable option for senior professionals looking for a career change: “Unsurprisingly, at a time when certain macroeconomic trends are causing uncertainty in business, many senior executives are finding themselves wanting a change in direction – a second career. Many of our franchisees were already operating successful businesses before they came to us, whilst others have come from prominent careers in the private and public sectors.”