Ditch the Golden Handcuffs: Building a Portfolio Career

In today’s rapidly evolving corporate landscape, traditional notions of job security and loyalty are giving way to a new era of individualism and personal empowerment. Faced with the unpredictability of pensions and the looming threat of layoffs, employees are redefining success by prioritizing autonomy and self-expression over conventional stability.

A recent finding from a Gallup Study underscores this paradigm shift, revealing that 61% of employees now rank personal freedoms to work when, where, and how best suits them as a top priority. Similarly, 58% prioritize the ability to do what they do best. “Workers who aren’t allowed to use their strengths very often seek jobs where they can; workers who do get to use their strengths seek out jobs where they get to use them even more.” This trend suggests an insight: employees are gravitating towards roles where their strengths are not just recognized but cultivated. Conversely, job stability and security, once the cornerstone of employment, now holds less sway with only 53% of respondents prioritizing them.

“You’re not an employee, you’re a business-of-one” J.T. O’Donnell

To thrive in this changing landscape, it's essential to transition from the mindset of an employee to that of a career portfolio builder.

Income Diversification: Don’t put all your eggs in one basket. By divesting your earnings from a single employer and creating multiple streams of earnings you can mitigate the risks associated with job loss, economic downturns, or industry fluctuations. This diversification fosters flexibility and autonomy allowing you to pursue multiple interests, skills, and passions simultaneously.

Opportunity: Cultivate transferrable skills

• Explore freelance or contract work opportunities that align with your expertise and interests.

• Online Businesses / eCommerce

• Affiliate Marketing

• Online Classes, Courses, Workshops, or Webinars

• Investing

Freelance is Freedom: You are a CEO of one. Freelancing or contracting can be a great way to focus on building your own brand, setting your own rates, and negotiating terms. You are in control of your day. Ditch the 9-5, and embrace the 4-day work week like so many companies (Tech.co). Freelancing empowers you to set your own schedule and choose your clients and projects that align with your interests and expertise.

Opportunity: Strengthen your collaboration and community muscles

• Leverage your LinkedIn connections

• Join your local Chamber of Commerce

• Be open to new people and new opportunities

• Take initiative and do the scary thing

Rest is not a Reward: In this society, it’s ingrained that we view rest as a luxury earned after completing a task. But rest is a fundamental human need, essential for optimal physical and mental well-being. In an article, Dr. Saundra Dalton-Smith identifies seven types of rest humans need, and most of us don’t even get enough of one. This has led to a society of “chronically tired and chronically burned-out” people. Rest isn’t laziness; it’s self-care. By prioritizing rest, we invest in our overall health and well-being, allowing you to show up as your best self.

Opportunity: Reinforce habits that overcome stress and burnout

• Create manageable routines

• Listen to your body

• Set boundaries and prioritize self-care

• Act like a kid again; take naps and play

Find Financers, not Family: While “we’re like family” is a common line used by companies to appeal to employees, it can create an unbalanced dynamic at work. Shift your perspective and think of your employer as a “financier” to clarify your professional relationship. You are offering skills and expertise in exchange for financial compensation and are a valuable asset. Median organization performers (those in the 50th percentile) bring in $306,849 in revenue per employee (Source: CFO.com). “Never have corporate profits outgrown employee compensation so clearly and for so long.” (Source: FRED) This is a mutually beneficial exchange, and we need to remember to distance any emotional attachment and refocus on the professional value we bring.   

Opportunity: Reframe your relationship with work

• Recognize your value and assert your worth

• Maintain professional boundaries

• Focus on results and communicate your accomplishments to your network

• Take ownership of your career trajectory by seeking opportunities for growth

• Evaluate your ROI

Embracing the portfolio career-builder mindset, and adopting strategies for income diversification and self-care are essential for surviving in today’s workforce. By taking control of your career and advocating for your value, you can navigate the complexities of the modern workplace with confidence and resilience. The ultimate goal of this reframing is to set yourself up to achieve your goals and aspirations. You are a CEO of one, a solopreneur, a builder of a career portfolio. You are the asset; act like it.

Ready to take the next step in building your career portfolio? Schedule a free consultation with us to develop a personalized portfolio career roadmap.