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Private sector professionals are flocking to once-unfashionable public service jobs perceived to offer status, security and solid pensions during the economic downturn, new figures suggest.
Increasing numbers of commercial sector employees are considering changing to jobs in teaching, charities and the civil service that offer the chance to "give something back". England's Training and Development Agency for Schools (TDA) has reported a 40% increase in recruitment inquiries to its website since the credit crunch began in March, a rise of six percentage points since September.
The TDA puts the increased interest, particularly among finance professionals, down to the tough economic climate. Its figures show the TDA has beaten its overall recruitment target by 2% and the number of people eligible to teach maths is up 25% on the same period last year.
There are also more trainees aged over 25 years going into initial teacher training. The number has risen from 41.6% in 2007 to 46.7% this year.
The TDA has been targeting financial services workers. It held seminars in Canary Wharf the day after the Lehman Brothers bank laid off 2,000 staff in September, and is planning three more recruitment events in London and Birmingham early in 2009.
Graham Holley, the TDA's chief executive, said: "In my experience the level of interest is completely unprecedented. Obviously there's a lag between people who express an interest in teaching and going on to become teachers, but even a 1% increase at that end means 4,000 new teachers." He said the City workshops had led to 25 direct referrals to university teacher training courses.
The Cabinet Office has also reported soaring applications for high-flying civil service jobs. They rose 33% on last year to 22,445 applications for the main 2009 competition.
Overall figures are still being compiled as individual departments handle their own recruitment but applications to the civil service fast-stream programme have "gone through the roof in the wake of the banking crisis", a spokesman said.
"The fast stream is always a popular career choice for graduates, but we are naturally pleased that this year has seen such a large increase," he added.
Charities also expect to gain from the downturn. PrimeTimers, a company that helps executives and professionals switch to work in the charity and not-for-profit sector, has seen a 20% increase in inquiries over the last three months and a rise in interest from the financial sector.
Mary Chadwick, a director of PrimeTimers, said: "We predict that people will see this period as an opportunity for personal development and reinvention.
"Many senior business executives will take a few months out and then use the opportunity of a shake-out to reinvent themselves and engage in a role where they can contribute to society."
The volunteering charity VSO said it had seen inquiries more than double between September and November this year, from 1,346 to 2,813.
"We've seen increases in the number of people with financial backgrounds and business advisers, which would suggest there are many people from that sector looking for opportunities at the moment," it said.
- Public sector careers
- Teaching
- Unemployment and employment data
- Credit crunch
- Work & careers
- Whitehall
- Teacher training
- Schools
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