The ING Future Focus Report, released on Wednesday, found the COVID-19 pandemic had 1.38 million Millenials and 1.31 million Generation Xers looking to change jobs. 

ING’s Head of Retail Banking, Melanie Evans said the pandemic had made many workers rethink their career and existing skills, while others had been sparked to pursue their dream job. 

“Millennials and those who fall into Generation X are at points in their life where stable incomes are really important," Ms Evans said.

"Many millennials are experiencing big life changes like marriage, children and home ownership. For Generation X they’re probably paying off mortgages and planning for their retirement.

“We’ve had a good run of booming job growth in Australia so many millennials may have never experienced an economic downturn in their working careers.

"This could be why so many are taking the initiative to re assess careers and learn skills.”

Need somewhere to store cash and earn interest? The table below features introductory savings accounts with some of the highest interest rates on the market.

Provider

4000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
  • No withdrawal notice periods or interest rate penalties
  • Save up to 10% on eGift cards at over 50 retailers with Macquarie Marketplace

Savings Account (Amounts < $250k)

  • A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
  • No withdrawal notice periods or interest rate penalties
  • Save up to 10% on eGift cards at over 50 retailers with Macquarie Marketplace
000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
*Rate varies on savings amount
  • Deposit $500 per month to get bonus interest
  • No balance growth needed or card transactions necessary.
  • Tiered bonus rates apply. Earn our best rate on your first $100k. (TMDs at ubank.com.au)
  • 5.50% p.a. available on total savings up to $100K.
  • 5.00% p.a. applies to savings between $100K-250K.
*Rate varies on savings amount

Save Account (>$100,000)

  • Deposit $500 per month to get bonus interest
  • No balance growth needed or card transactions necessary.
  • Tiered bonus rates apply. Earn our best rate on your first $100k. (TMDs at ubank.com.au)
  • 5.50% p.a. available on total savings up to $100K.
  • 5.00% p.a. applies to savings between $100K-250K.
4000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • For deposit amounts $0 - $49,999
  • New ING personal savings customers receive an introductory bonus 0.50% p.a. variable kick starter rate for the first 4 months on balances up to $500,000.
  • Reverts to variable ongoing rate. T&Cs apply.

Savings Accelerator (Amounts < $50000)

  • For deposit amounts $0 - $49,999
  • New ING personal savings customers receive an introductory bonus 0.50% p.a. variable kick starter rate for the first 4 months on balances up to $500,000.
  • Reverts to variable ongoing rate. T&Cs apply.
010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • Deposit at least $1,000+ each month from an external source
  • Make 5 or more eligible transactions
  • Grow your savings balance each month

Savings Maximiser (<$100k)

  • Deposit at least $1,000+ each month from an external source
  • Make 5 or more eligible transactions
  • Grow your savings balance each month
020000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

HomeME Savings Account ($0 - $100,000)

    02001$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

    Growth Saver ($1 - $25k)

      010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
      For customers aged 14-35 years
      For customers aged 14-35 years

      Future Saver Account ( < $50k)

        05001$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
        • Maximum Age - 24

        Goal Saver

        • Maximum Age - 24
        010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

        Boost Saver

          00.011$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

          Reward Saver Account($0-$100k)

            01000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

            Bonus Saver Account (Amounts < $100k)

              0201$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

              Reward Saver Kick Start (Amounts ≤ $1m)

                00.010$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                Life (< 30 years) (Monthly deposit)

                  5000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                  NetBank Saver

                    000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                    ANZ Save

                      050$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                      Young Saver Account

                        0501$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                        Save up

                          02000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                          Bonus Saver (<$1 Million)

                            010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
                            • Earn up to 5.40% pa by depositing $1,000 in the previous month
                            • No account fees
                            • Easy access to your money

                            Saver Account (<$250k)

                            • Earn up to 5.40% pa by depositing $1,000 in the previous month
                            • No account fees
                            • Easy access to your money
                            000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                            Smart Saver Account (Under 25)

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                              All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of July 13, 2024. View disclaimer.

                              While many workers wanted to change jobs, 32% expected opportunities to be very hard to come by, and one in four (23%) feel anxious or fearful about the prospects of finding work. 

                              “There’s no denying Australians are nervous about what lies ahead, but our report reveals Aussies are being resourceful - using this time to plan for the future and upskill so they can move with the times,” Ms Evans said. 

                              The report highlighted more than a quarter (28%) of adults were learning new skills while in isolation, whether that was an attempt to progress their careers (17%) or simply to learn something new (11%). 

                              “This increase in learning will help people feel more optimistic about the future of work beyond COVID 19,” Ms Evans added. 

                              With almost 600,000 Australians out of work, and another six million receiving JobKeeper, the fact that so many Australians are feeling vulnerable about their current career won't come as a surprise to some.

                              COVID-19 accelerates the future workforce 

                              Futurist Anders Sörman-Nilsson, who partnered with ING on the report, said pandemics have a history of spawning cultural and labour transformation. 

                              "Just as the Spanish Flu and Black Plague shifted ways of working, COVID-19 will lead to an even closer relationship with technology, with the rise of machine learning, artificial intelligence and robotics,” Mr Sörman-Nilsson said.

                              “Not only are there thriving new industries to take advantage of, but Aussies can transfer their current skills, learn new ways of working and adapt to the current climate.”

                              Mr Sörman-Nilsson outlined a number of predictions and workplace trends which would spawn from the pandemic: 

                              Robots join the team 

                              "Digital connectedness will thrive, from robots and drones utilised in healthcare, to tech connecting people who are separated."

                              STEMpathy will get you hired 

                              "Whilst some machines might take over old jobs, emotional intelligence is not something that can be programmed. It will be important for people to have multiple skill sets that combine creativity and entrepreneurship with digital technologies."

                              Eco companies will lead the way 

                              "As we look to tomorrow, businesses that focus on sustainability, renewable energy and carbon neutrality will be the leaders of our new economy."

                              EdTech the new normal 

                              "Within schools and workplaces we will continue to gain access to world-class mentors and teachers through hybrid education models that fuse virtual learning with face-to-face."

                              Your wellbeing is the priority 

                              "We will see workplaces place greater emphasis on mental health and wellbeing, including access to online therapy, mediation apps and dedicated wellbeing spaces."

                              A home office will be commonplace 

                              "As more workplaces offer the opportunity to work from home, we will see a rise in those looking to build or buy properties with home offices."

                              Those who can adapt quickly will thrive 

                              "Whilst niche skills will still be needed, it will become increasingly important for people to diversify their skill sets and continue to learn outside of traditional education to ensure they are flexible and ready for change."