Significant numbers of American workers say they are willing to change occupations in pursuit of a better financial future – and many add that getting the skills necessary to make the switch is their top obstacle, according to a McKinsey & Co. report, The upskilling imperative: Required at scale for the future of work.
“With tight talent markets in crucial industries including infrastructure, construction, and health care – and a job market that is changing as gen AI adoption continues – a flexible and adaptable U.S. workforce bodes well,” the study says.
“But, by a considerable margin, respondents who are willing to switch occupations and are open to a new job cite the need for more or different work experience, credentials, education, or relevant skills as the greatest obstacle to finding new employment. This group needs upskilling – both quickly and at scale.”
Overall, 44% of currently employed respondents in a survey taken in August 2024 said they’d be willing to change occupations, and 17% said they have done so since March 2020. The sentiment held up across demographics – except for older workers, who seemed more reluctant to switch, and younger workers, who seemed more eager.
Forty-five percent of employed respondents willing to change occupations cite lack of relevant skills or experience as the top barrier.
Upskilling Help: Who Workers Look To
Respondents saying they hope to upskill in the near future plan to look for support in doing so from educational institutions (41%), private companies (35%), and not-for-profit organizations (23%).
“Employers, not-for-profit organizations, and educational organizations can focus on eliminating the barriers – primarily lack of time and money – to a more upskilled workforce,” the study says. “In addition, they can conduct outreach to potential workers (such as by hosting career fairs and having alumni speak to their employees) to find workers who would be attracted by upskilling programs.”
To see a summary of the survey’s findings and recommendations, click here.
