The desire for a flexible work life balance, evolving technological advances and an increasing demand for specialised skills has led to a dramatic shift in working styles. These factors, coupled with economical shifts and the demise of the job for life is a key driver behind the significant increase in self employment rates and why individuals are opting for Pluralist, or Portfolio, career paths.

This article introduces you to the benefits and key considerations when exploring a Portfolio career.

What is a Portfolio Career?

A pluralist/portfolio career is an agile, autonomous working style whereby people can shape their career by combining multiple streams of income using a mix of employment, freelancing and volunteering.

What are the benefits of having a Portfolio Career?

Having a portfolio career is a working style that holds many benefits. It allows you to take control of your career so you can shape work around you, your expertise and your individual strengths. The pressure of an increasingly demanding work culture is undoubtedly one of the most pressing challenges to the mental health of the general population.

Not only are Portfolio Careers helping individuals redefine work, but they help achieve a healthier work life balance. Other advantages include higher earnings, stronger sense of personal growth, more variety (ideal if you’re not driven by one interest), more opportunities, and exposure to different cultures and environments than if you were employed full time and office based.

Key Considerations when starting a Portfolio Career

Establishing a Portfolio Career in the initial stages can be a tough balancing act and requires specific personal qualities and core skills that are necessary in order to be successful. If you are keen to pursue a Portfolio Career it is also important to consider the following;

• You’ll need to use your initiative and be resourceful to ensure you work proactively and independently.
• Balancing multiple roles requires scheduling your day in segments. This allows you to put focus into each role for a specific amount of time. Scheduling your time this way can make you more productive. The more passionate you are about what you're doing, the easier your schedule will be.
• You need excellent time management skills so that you do all jobs well. You must be flexible and adaptable and be able to adapt your working style to different environments, particularly if you are working on a number of short term contracts or working with a number of different organisations at the same time.
• You'll need to be clear about intellectual property and confidentiality considerations if you are employed or working on multiple contracts.

In today's current climate and economic uncertainty, we can't always trust that one career is enough. As stated by www.inspiringportfoliocareers.com; “The pace of change is accelerating, choosing a portfolio career is a wise choice post Brexit for uncertain times. It puts you on the front foot, not the back foot, so you feel more in control’.  Being in a position where you have more than one ‘string to your bow’ will provide you with more security. Rather than worrying if your job is at risk, you will have a sense of relief knowing you have other income streams to fall back on.

Renovo is the UK’s leading specialist provider of outplacement and career transition support. We work with both organisations and individuals to support all their career transition requirements. If you would like to understand how Renovo can help you please call 0800 612 2011 or email info@renovo.uk.com