There are a number of different definitions of a portfolio career. The government (HMRC) defines self-employment as: “when an individual can decide how, when and where they work”.
Other definitions include: a work pattern of several employments followed simultaneously and an employment pattern that involves working part-time or several different jobs or freelance projects at any one time, rather than a succession of single full-time jobs.
The impact of Covid-19
Covid-19 has caused many redundancies, increased the number of people becoming self-employed because they cannot get a job in shrinking sectors and also reduced the number of freelance projects available with increased the competition for them.
Companies are focusing on ‘must do’ projects with on-going uncertainty, not ‘nice to have’ projects, and sticking to existing trusted providers. There is also downward pressure on pricing/day rates – supply and demand.
All these factors are increasing the number of people open to a portfolio career to spread the risk of having all your career ‘eggs in one basket’.
Types of people for whom the variety, challenge, flexibility and fulfilment of a portfolio career appeals
People with multiple interests who are independent, creative and/or entrepreneurial in nature tend to be drawn to portfolio careers, as they can find the hierarchical nature of corporates stifling.
Young workers (Millennials) wanting to travel and study also find portfolio careers appealing.
Working mothers seek the flexibility of a portfolio career to successfully combine their career and family.
People over 55 who want a new challenge but face ageism when seeking a new full-time role may choose a portfolio of part-time jobs.
Employees not ready for retirement who want to keep purposeful, can create a portfolio, gradually reducing their working hours while taking on non-exec director/volunteer roles, and increasing their leisure time as they wind down to 100% retirement.
What appeals to you about having a portfolio career?
More
Why choose a portfolio career? https://www.inspiringportfoliocareers.com/why-portfolio-career/
Who is a portfolio career for?https://www.inspiringportfoliocareers.com/who-has-portfolio-careers/
When is it time for a portfolio a career?https://www.inspiringportfoliocareers.com/when/
To receive a free Energise report Discover Portfolio Careers, get in touch: https://www.inspiringportfoliocareers.com/contact-us/