The idea of having one job for life is becoming “outdated”, according to one business expert. 

While it was common in previous generations to hold one job for decades, new research by Locktan People Solutions suggests as many as six in 10 people would leave their job in 10 years. 

A further 28% have their sights set on changing jobs after five years of work. 

Futurewise Managing Director Peter Cosgrove told Newstalk Breakfast this is because the idea of a “job for life” is simply “outdated”. 

“The idea of people even saying five or 10 years with the same employer is somewhat dated compared to how much growth we’re seeing in the marketplace,” he said. 

He said the estimate by Locktan might even be “too low” - especially considering the future age demographic of the workplace. 

“One of the main reasons is we are going to work a lot longer,” he said.

“Our kids will probably be working well into their 70s if life expectancy continue to go up. 

“The idea of one job for life seems outdated, if that’s the case.” 

Building skills

With changes in technology in the workplace, Mr Cosgrove said more people are realising just how flexible the marketplace can be for them. 

“We are all that getting a little bit more concerned about our jobs, with ChatGPT and AI,” he said. 

“What people are starting to realise is you can actually move to a very similar type of job but in a different organisation."

Businessman leaving office with gym bag and yoga mat. Image: Hero Images Inc. / Alamy Stock Photo

“Suddenly you're getting different experiences with people with technology.

"A different culture and all those things are becoming transferable skills for your life.” 

As people build these skills, they realise they don’t need to be tied to one job, or even one industry. 

“If you've got the kind of good networking skills that will work, people are realising it's not too late later in life to completely change areas,” Mr Cosgrove said.

Public sector

Employers in the public sector, however, can be more confident their employees won’t switch after a few years. 

“The general consensus would be public sector [employees] will stay longer because it is harder, not impossible, but harder to lose your job,” Mr Cosgrove said. 

“You take more risk in the private sector, and therefore you generally get paid more. 

“But if you go into the public sector, you generally have better pensions and it’s harder to lose that job.”