Home > Planning > What is Portfolio Working?

What is Portfolio Working?

By: Maggie Lonsdale BA (hons) - Updated: 8 Jul 2013 | comments*Discuss
 
Portfolio Working Employment Company

Portfolio working is a new phrase that’s recently become popular with people looking to address their work-life balance. So what exactly is portfolio working?

Portfolio working refers to a method of employment that is not dependant on any one client or company, where individuals are paid for a number of different skills, products or services that they offer, often from their own Home Office using the internet as a marketing tool. So a Freelance or self-employed person could be called a portfolio worker if they have a variety of clients that they offer different services to, or a person who works part time at two, three or more different companies. The term portfolio working also encompasses people who work for a company part-time but they have their own business, too.

What's the Attraction of Portfolio Working?

Following the massive impact of the global economic crisis, the idea of not being ‘chained’ to any one client or company is very appealing for people who’ve experienced the threat or reality of redundancy. It is also attractive for employers as they get a more motivated employee for the period of time that they actually need them, rather than paying for a person full-time.

Organisations such as the Confederation of British Industry (CBI) and Enterprise Nation have highlighted how portfolio workers are likely to play a key part in the future of British business. Companies are no longer prepared to offer final salary pension schemes or expensive benefits packages to new long-term employees when they’re better able to ‘buy in’ services from contractors, freelancers and temporary staff on a ‘pay as you go’ basis.

Portfolio working fits in perfectly with the changing face of employment. With very few ‘job for life’ opportunities available, people are more comfortable with the idea of having a few different paying jobs, saving them from having all their eggs in one basket and allowing them to be more in control of their own financial and employment futures.

Is Portfolio Working Right for You?

Although portfolio working is certainly not for everyone, it is a positive choice for many people who are unable to find full-time work that fulfills them or those that do not want to work full-time in one place. It is a great choice for working parents who want to spend more time at home with their children, yet do not have enough income from any one job, client or business to sustain their lifestyle. Consequently, many portfolio workers are people who have taken time out of their ‘original career’, either for maternity leave or a career break and have started their own business from home.

You could describe portfolio working as a modern solution to the current employment situation, but also a way for individuals to claim more control over their futures. People do not want to be at the mercy of their employer's whims regarding benefits, childcare or flexible working arrangements when they are able to be their own boss. Of course, there is ‘less security’ initially when building up a client list, working with new clients and getting to grips with Being Your Own Boss; but now that there is not the same security from full-time employment and we place a greater value on maintaining a positive work-life balance, portfolio working makes perfect sense.

Improving your Work-Life Balance

Read our tops tips on improving your work-life balance in our article Find A Work-Life Balance.

You might also like...
Share Your Story, Join the Discussion or Seek Advice..
Why not be the first to leave a comment for discussion, ask for advice or share your story...

If you'd like to ask a question one of our experts (workload permitting) or a helpful reader hopefully can help you... We also love comments and interesting stories

Title:
(never shown)
Firstname:
(never shown)
Surname:
(never shown)
Email:
(never shown)
Nickname:
(shown)
Comment:
Validate:
Enter word:
Latest Comments
  • ACareerChange
    Re: Becoming a Nurse
    Izzy - Your Question:Hi, I’m currently a HCA working in a busy nursing home on an EMI unit I really want to progress up and become either a nurse…
    22 May 2018
  • Ghagana Linga
    Re: Government Help Scheme for Becoming Self-employed
    Hello I am a MCA degree holder. I am thinking to start a computer training center in my village. I need…
    21 May 2018
  • Izzy
    Re: Becoming a Nurse
    Hi, I’m currently a HCA working in a busy nursing home on an EMI unit I really want to progress up and become either a nurse or a midwife would…
    15 May 2018
  • Linda
    Re: How to Become a Health Visitor
    Hello, I am a qualified Midwife but I have had a break from Midwifery so I am not currently on the register. If I wanted to…
    14 May 2018
  • KnaaAdoma
    Re: How to Become an Air Hostess
    Am 24 years of age. A ghanaian and a senior high school lever. Being an air hostess has been my dream since childhood . Actually…
    5 May 2018
  • ACareerChange
    Re: Working With Children: Childcare
    Jayne2611 - Your Question:Hi I am looking to change career and go into child minding or working at a nursery have looked at…
    4 May 2018
  • Jayne2611
    Re: Working With Children: Childcare
    Hi I am looking to change career and go into child minding or working at a nursery have looked at level 3 but wanted to check…
    2 May 2018
  • ACareerChange
    Re: Becoming a Teacher or Teaching Assistant
    Brighteyes - Your Question:I have my Nvq 3 in social care I have worked voluntary for parent line and have great…
    1 May 2018
  • Brighteyes
    Re: Becoming a Teacher or Teaching Assistant
    I have my Nvq 3 in social care I have worked voluntary for parent line and have great knowledge of the work Bernard…
    30 April 2018
  • ACareerChange
    Re: Becoming a Teacher or Teaching Assistant
    Buster - Your Question:I have been a stay at home Dad of three for the last 8 years and now would like to retrain…
    27 April 2018
Further Reading...
Our Most Popular...
Add to my Yahoo!
Add to Google
Stumble this
Add to Twitter
Add To Facebook
RSS feed
You should seek independent professional advice before acting upon any information on the ACareerChange website. Please read our Disclaimer.