'Career portfolioing' is a trend where people assemble different sources of income, such as side gigs, to give them a measure of independence from employers who provide little job security.
One thing that’s become clear in the past few tumultuous – and for many, traumatic – years is that it’s easy to feel like there is no control in our lives. Control is a basic psychological need that helps people feel like they have agency, from how they live to where they work. One area where people have tried to wrestle back control is around work.
Workers take on side hustles not just for the money, but also to compensate for limited control in their traditional jobs. Jeff Greenberg via Universal Images Group/Getty Images In a post-pandemic world, a new model is emerging that reflects concerns of a slowing economy and more uncertain future. Employees are increasingly rejecting the belief that a single job can satisfy all of their financial and psychological needs. Instead, people are turning to building a portfolio of simultaneous roles to create their career.
In research I’ve been conducting on side hustles in the sharing economy, I am finding that many people take these gigs to compensate for limited control in their “traditional” jobs. Although gig work comes with its own set of challenges – lack of benefits is a key one – people feel liberated by greater control over where, when and how they work. Switching on an app shifts allegiance from one company to another. Turning off an app ends the workday in an instant.
Historically, business organizations stayed quiet about controversial social issues, such as LGBTQ rights, racial justice and abortion – unless there was a very direct profit motive. That’s changed dramatically as employees increasingly demand clarity on company values – and actions to back them up.
A better future for workCareer portfolioing reflects a future in which uncertainty is too high to rely on a single institution to fulfill basic needs, and a failure of modern work organizations to deliver what employees truly value.
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