Employment website SEEK released its Evolving Working Life report and has found that more than half of Kiwi workers regret their career choice.
The report, involving 1,000 employees, explored workforce perspectives on career satisfaction and retirement expectations.
54% of respondents reported experiencing “career regret”, with the most cited reason being insufficient earnings (50%). Other reasons included evolving interests (36%), unfulfilling work (24%), and a poor work-life balance (22%).
“Amid persistent cost of living pressures, this could be why almost half of workers are feeling pessimistic about their future working life,” Seek NZ country manager Rob Clark said.
SEEK’s report has also revealed that 41% of New Zealanders are open to changing careers, yet only 6% are actively pursuing this path, with financial concerns being the primary barrier to making a change.
Among generational cohorts, Millennials (61%) and Gen Z (56%) workers were the most likely to reconsider their career choices if given the chance.
Gen X and Baby Boomers follow at 51% and 41%, respectively.
Although having doubts about career choice is a common experience, Clark emphasised that it’s equally important to recognise that transitioning to a new career is achievable at any stage of life.
Meanwhile, Kiwis expect to work longer as rising living costs increasingly impact their ability to retire comfortably, with 41% of the survey respondents saying they don’t expect to retire by age 70.
32% anticipate working longer than they would prefer.
58% cited financial struggles as the biggest reason for delaying retirement. Approximately 9% of respondents indicated they would delay retirement to maintain a sense of purpose, while 7% cited the desire to support their family as the reason.
Looking ahead, 52% of respondents remained optimistic about their future career prospects. 55% believed their current role would still exist in 10 years despite further advancements in technology.