How would you design your portfolio career?
A portfolio career is a combination of smaller, more flexible work roles rather than just one job.
For instance, to create your portfolio career, you could pick and choose from part-time jobs, temporary assignments, freelance or contract work, and/or self-employment.
You might find yourself working two or three days a week for an employer, teaching part-time at your local community college, plus running a small business from your home.
More Flexibility, More Control, and More Options
A portfolio career gives you more flexibility, more control over your work life, as well as a chance to pursue different interests. A distinct advantage is that your income is coming in from multiple sources, rather than being dependent on only one source. And in today’s economic environment, portfolio careers can give people over 50 more options for employment.
Even if you prefer the idea of working full-time for a large company, that option may not be available much longer. It’s expected that there will be fewer full-time jobs once we emerge from this recession. More companies will be hiring people for shorter contract periods or on a part-time basis rather than replacing former positions.
Would a Portfolio Career Be a Good Fit For You?
I think we’re all seeing that job security is a thing of the past. You’re now the one in charge of managing your career. But even though a portfolio career may be a good option for many in this economic climate, it’s not for everyone. It may be for you, if you:
- value variety, independence, and the chance to learn new things
- are a self-starter and manage your time well
- wish to make the most of your strengths and the skills you enjoy using
- enjoy change and challenge
- are adaptable and organized
On the other hand, you may not enjoy a portfolio career if you:
- prefer a set, daily routine
- would be uncomfortable with fluctuations in income
- dislike risk, uncertainty, lack of “security”
- place a higher importance on money than on other factors
- are having trouble finding even bare-bones health insurance options
Fitting the Pieces Together
Gaining more control over your work requires making conscious choices and decisions about your life as a whole. It’s an exciting opportunity to explore and experiment with all your different interests and possible roles.
But to create a truly authentic career, one that allows you to express who you really are, it’s important to “sew” all these pieces together. Having a sense of purpose can help you make sure that all the pieces fit together. Otherwise you run the risk of scattering your energy in too many directions.
As you choose work roles that both fit and fulfill, you’ll find that balancing life and work happens in a more natural way. Your work is no longer separated from your “life.” And finding your passion is the first step toward finding the work that’s right for you.
If you had a portfolio career, what would it look like?
Photo credit: Cindy Funk / CC license
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I am somewhat biased as I have just written a book on portfolio careers, “And What Do You Do?: 10 Steps to Creating a Portfolio Career”, A&C Black. What my co-author, Katie Ledger and I have found from interviewing a large selection of portfolio workers is that hardly any would even consider returning to what I call a single track career. They actually report feeling more secure in a recession as they are not reliant on only one job. Attitudes towards this growing phenomenon amongst employers are proving fascinating. Even the CBI in a recent report say that our concepts of work and employment are going to have to change with organisations relying more on a small core workforce supplemented by an army of temporary or project workers. Portfolio workers typically are self motivated, self starters and reliable. They have to be as they will not survive unless they are excellent time managers and organisers. They will be increasingly attractive as employees. We are just beginning a programme of interviewing a wide range of employers to check out their attitudes to this growing group of workers. We reckon that there are already over a million of us. Yes – we are portfolio workers too! Follow our project on http://www.portfoliocareers.net
Thank you for visiting my blog! I admire your work and am looking forward to the release of your book here in the U.S. I find it interesting that portfolio workers feel more secure than do people who rely on one job only. What’s truly wonderful about portfolio careers is that they allow us to design and take charge of our own work lives. But, as you say, the very concept of work will have to change. I’ll be interested to see the results of your interviews with employers. Hopefully you’ll find a more open attitude toward flexible work alternatives. Everyone would benefit.