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One thing that has become clear in the turbulent and often traumatic years of the last few years is that it is easy to feel like there is no control in our lives. It’s a need and helps people feel like they have agency, from where they live to where they work. One area where people have been working to regain control is around work.
As a Rice University Business School professor and author, I have spent nearly two decades examining the complex relationships between employees and their employers through research, education, and readership. The aftermath of the pandemic is the latest iteration of the timeless negotiations between labor and management that have become even more important in recent years.
The pandemic has accelerated a development that began years ago when workers realized they needed to take on more responsibility to manage their careers. This major change reflects an exciting yet disturbing reality for millions of workers.
From sei-katsu-sha to independent workers
For decades, employers have had the upper hand in negotiating terms with employees. People traded unconditional loyalty to their employers for lifelong employment and secure retirement.This model began to collapse with the rise of corporate restructuring in the 1980s and his 1990s. With the prospect of a stable job and a comfortable retirement elusive, employees changed jobs to regain some control. They asked for higher salaries and the promise of a better work life. Over the past decade, his average tenure with employers has dropped by nearly 10%.
With the labor market tight during the pandemic, employees have taken advantage of job mobility to gain more control over their lives. Moreover, the freedom afforded by remote work has offset some of the loss of control caused by the pandemic. Emotions are usually only temporary.
In the post-pandemic world, new models are emerging that reflect concerns about economic slowdown and future uncertainty. Employees increasingly reject the idea that one job can meet all their financial and psychological needs. Instead, people are looking to build a portfolio of concurrent roles to create their careers.
A ‘Career Portfolio’ allows employees to become free agents and become increasingly dependent on themselves to carve out a meaningful and rewarding professional life. They put together a variety of positions to collectively fulfill their aspirations regarding income, promotion, skill development, and fun. They are no longer swayed by long-term relationships with a single permanent employer or dependent on a strong job market.
One sign of the rise of career portfolios is the rise of side hustle. In 2021, 34% of his Americans reported having a side job, and more than 60 million were planning to start one. As inflation rose, the side business brought in extra income in the face of rising prices. But people also turned to side jobs for new learning opportunities (28%) and more enjoyable work (38%).
In the research I’ve been doing on the sideline of the sharing economy, I’ve found that many people take these gigs to compensate for the limited control of their “traditional” jobs. While gig work has its own set of challenges (lack of benefits being a key challenge), people feel liberated by having more control over when, where and how they work. When you turn on the app, your loyalty changes from one company to another. Turning off the app makes the day go by in a flash. People rely on side jobs not only for the extra income, but also for the freedom of being an independent worker.
Another advantage of a portfolio is hedging risks. With sudden layoffs like the ones that have impacted the tech industry recently, employees feel financially challenged and are unknowingly fired and lose their identities. When facing tough times at one job, people can look to other parts of their career portfolio for security and stability.
Perform actions on values
During pandemics, as serious illness and the threat of death spread, people’s awareness of death increased. When people evaluated their work, many did not like what they saw and quit in record numbers. Or, as they stayed, they pressed harder and harder on employers to better align with their values.
Historically, business organizations have remained silent about controversial social issues such as LGBTQ rights, racial justice, and abortion unless they have a very direct profit motive. The landscape has changed dramatically as employees increasingly articulate company values ​​and demand action to support them. 60% of workers admit that their business leaders speak out on social and political issues, and a recent survey found that a quarter of respondents said their company’s position on social issues Reportedly turned down employment opportunities for reasons.
Employees also seem to be more comfortable expressing their opinions. At the beginning of the 20th century, he conducted one of the first research studies to understand how employees persuade the workplace to address divisive social issues. I have found that employees hide their values ​​by framing them as financial opportunity. Sustainability initiatives around energy efficiency, for example, are said to be profitable in the long run.
When I recently conducted a similar study, the dynamics were changing. Employees were far more willing to talk about moral values ​​and less willing to translate social issues into business issues. Such a dramatic reversal reflects a growing sense of empowerment among employees to make their work fit their needs. It’s hard to feel in control of your life when deeply held values ​​need to be repressed or denied where you spend most of your waking day.
a better future for work
Career portfolios reflect a future too uncertain to rely on a single institution to meet basic needs, and the failure of modern labor organizations to ensure that employees provide something of real value. I’m here.
For employees, a career portfolio means more freedom in how their career develops. In many cases, instead of moving up a predefined, inflexible corporate ladder, you may choose to start a new part-time job, take a new class, or pursue a business idea. You may consider adding the following to your portfolio. Elements of a career portfolio are added not only to generate income and personal growth, but also to support personal values.
There is no doubt that there are potential roadblocks. Taking responsibility for your career portfolio requires extra effort. In our book Joy at Work, co-authors Marie Kondo and I realized that it’s all too easy to take on too many tasks and then burn out. People get caught up in the idea that the more they do, the better they feel. Avoiding burnout starts with establishing a career her portfolio based on values ​​and ideal work life.
For employers, a career portfolio means competing for the full attention of their employees. I believe we should encourage people to think more deeply about how to better meet their needs.
Scott Sonnenschein is a professor of business administration at Rice University.
This article originally appeared on The Conversation.
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