Cost of Career Change : Millions Lost And Prime Years Wasted

Most people — 80% according to Deloitte’s Shift Index survey — are dissatisfied with their jobs. (Mostly because they are doing something which doesn’t interest them).

There are so many people who realize their professional interests later in life and want to switch their career for better. While some people muster the courage to change their career, a majority of them go with the flow and bear the brunt.

Let’s take a look at a top few reasons why changing a career later in life is so difficult:

  • The time and resources people spend in getting a qualification seems utter waste
  • Change career at a time when people’s family is dependent on their income.
  • They lack relevant educational qualification
  • The fear they wouldn’t get an opportunity due to the lack of relevant experience
  • The immense effort required to start all over again, for instance, taking a break from work and learning a new skill.
  • After a certain age, people look for stability in their professional life and don’t want to take the risk of losing a job.
  • Peer pressure when they see their counterparts rising in their jobs and they are back to square one

A career change in later life is no cakewalk. It requires an enormous amount of investment in terms of time, money and energy in learning a new skill; leave aside the low job opportunities you will face because of lack of relevant work experience.

Here’s a rough assessment of the total cost that a career change could entail:

This is a huge loss on an individual basis. On a national level, the loss of resources wasted would be even more — simply multiply the individual loss with the annual number of students that graduate each year (that’s around 1.5 million students per year) is close to 52.5X10¹⁰ rupees!

Where’s the problem and how do we solve it?

So often we wish to go back in time and alter the career we had chosen and efforts we had put in learning something that didn’t interest us. That’s exactly where the problem lies! Understanding an individual’s natural inclination, attitude-aptitude and choosing a career-college combination that justifies all the attributes of an individual is very crucial in getting a right job that matches your talent and interest.

Past statistics reveal that students choosing a lasting career have favorable odds that are lesser than a coin’s toss!

Navigus aims at solving this problem by equipping students with the right set of tools and guidance to identify the personal best cross between predisposition, aptitude and future growth, and make them field-ready for the challenges of future.

Navigus is purely data driven and is a scientific way to evaluate inclinations, strengths, and motivations targeting each student uniquely. It is an unbiased & reliable recommendation system, that will take all the burden of evaluating colleges and maximizing your admission potential so that students can focus on preparations & parent’s money, time and effort are not spent on unnecessary exam and counseling procedures.

Choosing a course and college wisely at the right time would put your efforts in the right direction leading to a successful career.

Have you ever faced similar challenges in changing your career? Do share your thoughts/experiences in the comments below.