A 'silent revolution' in the business world: Employees over 40 are quitting and changing course

Recently, a new complaint has been added to those voiced by industrialists and manufacturers regarding the difficulty of finding qualified workers. Bosses, who were previously dealing with the demands of Gen Z for 4-day work weeks, 6-hour work days, and hybrid or remote work, are now on alert due to the second career plans of professionals over 40...

According to research by the American Institute for Economic Research, many employees who have reached the age of 40 want to give their careers a different direction, and are even willing to start from scratch to achieve this. Most employees between the ages of 40 and 50 have turned their route toward a second career. Some are turning their hobbies into professions, while others are starting university education or participating in certificate programs. According to a report by Metin Can from Sabah, the transition of employees over 40 to a second career is seen as a serious loss of qualified labor for employers.

'EMPLOYEES AGED 40 AND OVER ARE QUITTING'

"Why would a person want to change their career when they reach their 40s?" Experts attribute the answer to this question to salary mismatches, burnout syndrome, and anxiety about the future. They also point out that individuals who realize after years that this was not the profession they actually wanted to do, or who have accepted that there is no future in their current profession, are embarking on second career plans. Furthermore, having to earn the same salary as Gen Z employees just starting out is causing the escape trend among those over 40 to increase exponentially.

According to the TUIK Labor Force Statistics report, burnout, low wages, and work-life balance problems stand out among the reasons why employees aged 40 and over quit their jobs. 25 percent of employees in this age group leave their current positions due to insufficient salary, and 30 percent due to job dissatisfaction. Again, according to TUIK data, the rate of withdrawal of employees over 40 from the labor market has increased by 6 percent in the last 3 years. According to a survey conducted by chambers affiliated with TOBB at the beginning of 2024, 45 percent of firms operating in the industrial sector stated that they have difficulty finding qualified labor.

THE SECOND LARGEST LOSS OF WORKFORCE AFTER EYT

Building their second careers in fields such as craftsmanship, agriculture, gastronomy, becoming a YouTuber, or digital jobs, this new generation of professionals is both reshaping their individual lives and creating a new transformation in the business world. The business world views the current situation as the second largest loss of workforce after the EYT (Retirement Age Compensation) regulation.

The departure of white-collar employees who have gained years of experience in the sector and possess high levels of knowledge from their corporate positions is leading to a serious loss of workforce in many sectors. Many employers emphasize that this trend creates an experience gap in companies and causes a rapid decline in qualified labor. Many companies state that it harms them when employees they have invested in for years suddenly leave the sector and turn to completely different fields.

News Source: 12punto