With people living longer lives and the rising age for retirement and state pension, workers are needing to stay employed for longer than ever before. Think tank Phoenix Insights is seeing a shift in career change ages, with a third of the current 45 to 54-year-old cohort expected to change careers before they retire. Changing careers can be a daunting task, but these employees are now bringing experience and fresh perspectives to industries they previously weren’t part of, along with a higher wage growth and a higher likelihood of remaining in work later in life.
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