Have you ever heard the term "portfolio career?" If not, perhaps you think it means a white collar career, one where you carry a briefcase, or portfolio. Actually, a portfolio career has nothing to do with the color of one's proverbial collar – it refers to a situation where one puts together a full time job a combination of part-time, temporary, contract, and/or freelance assignments. Portfolio careers are also ideal for the self-employed and can include a variety of jobs, using a variety of skills. Sounds complicated, doesn't it?

Bill Bridges, author of Job Shift, notes that in fact "all jobs in today's economy are temporary." Based on this assumption, the time is right for portfolio careers, particularly for those seeking life-work balance and personal fulfillment. 

British Management expert, Charles Handy coined the term "portfolio career" and noted that the days of one lifelong career are over, worldwide. As such, he states that the employee / employer relationship has evolved into something more flexible – with individuals working as consultants on demand, rather than as employees.

The Electronic Recruiting Exchange reports that up to one third of new workers do not want traditional full time employment status – they want to explore all their options, to find themselves, and to maintain a high quality of life.

Many career experts encourage people to try out a portfolio career means to self-discovery. Harvard Professor, Daniel Gilbert says, "The best way to figure out what will make you happy is to try it."

Dr. Randall Hansen (Marketing Professor, Stetson University) notes that portfolio careers offer flexibility and freedom, but also require good organizing skills and a tolerance for risk. In other words, you may not get a steady paycheck, and you probably won't get health and other fringe benefits received by those employed in traditional 9 – 5 jobs. These factors preclude many people of pursuing a portfolio career, but if you really want it, you can probably overcome these obstacles.

Who is an ideal portfolio career candidate?  Someone who:

•   Wants to use more than one skill set in work
• Values personal autonomy over job stability
• Puts work-life balance at the top of his or her wish list
• Is fed up with corporate culture and is tired of office politics
• May be nearing retirement and wants to pursue that lifelong dream.

Sounds great doesn't it?  However, there are drawbacks to such an arrangement. For example, putting together a portfolio career requires:

• A high degree of schedule coordination … and luck
• Time management
• A tolerance for an inconsistent work schedule – feast or famine
• An ability to work independently and in a self-directed manner
• A certain degree of isolation – lack of an office "team"
• Constant networking to maintain and expand one's work.
• The financial means to withstand dry spells and to cover health insurance and retirement own.

Yours truly has embarked on such a venture – pursuing a part-time contract assignment as a grant writer, and teaching, free-lance writing, and editing the rest of the time. I like the flexibility and the autonomy, and fortunately, I still have people contact and some structure to my work week. My health insurance is covered so that isn't a problem. I don't have to market myself at the moment either. Although it took awhile, I was lucky to find the right work schedule for my needs. I also have time to pursue volunteer work and hobbies, which provides use for other previously untapped skills and outlets for the passions that I haven't pursued in years.

Any down side(s)? Lack of vacation or sick pay is the only tangible problem. The inconsistent schedule can be a little confusing and stressful at times, but I am making minor adjustments to alleviate these problems, and am learning to live with it. I also have to realize that this set of arrangements may not last and that I will have to reconstruct my career again. In general, however, I am very pleased with my work, my schedule, and the fact that I am using the skills I want to be using at this time in my life. Who could ask for anything more?

One San Francisco Peninsula professional I spoke to holds down three distinct jobs: she works at a major university as head of their newspaper, acts as consumer advocacy consultant, and runs a one person catering business. Each of her jobs is equally rewarding because she can, as she put it, "use different parts of her brain" and can set her own schedule to fit her needs - i.e. to be able to attend all of her son's sporting events.  She loves cooking, and feels that catering provides a means of bringing people together. Her consultancy business allows her to use her investigative and advocacy skills, and the newspaper job is directly related to her prior work experience and talents. She doesn't see any drawbacks to the situation, because she is highly organized, and does not take any consulting or catering assignments that don't fit with her schedule.

How do you go about embarking on a portfolio career? Experts agree that, just as with any career search, one needs to look at one's skills, values, work history, hobbies, and personality type first. Then one needs to weigh the pro's and con's of the work style. Next it is important to devise strategies as to how to proceed. And finally, it is important to tap into the resources and support of one's family, friends, and professional colleagues. Common sense - all of it - and very do-able with the proper motivation. If you think it's for you, go for it!

Copyright Ron Visconti 2008
www.peninsulaemploymentgroup.com