Until recently, the term 'portfolio career' applied only to high flyers in business who worked with several companies, usually at board level, giving objective advice and guidance, based on their years of corporate experience.
Today, the term has expanded out to cover people who have multiple jobs. These jobs will all be part time, by definition and may or may not be related to each other. So, your portfolio career could include a job for which you are contracted to an employer for 2 days a week, to another employer for 1 day a week and the website business which you are running from home.
The days of one 9 - 5 job, 5 days a week have gone for many people, particularly those over the age of 45 and a portfolio career offers a great opportunity to extend yourself into new areas, develop new income streams and increase your skillset.
From the employer's point of view, managing a workforce which includes part time portfolio career workers has some additional considerations. T&Cs of employment need to be checked to ensure that the employee may be allowed to work for other, non competing, organisations. Tax and NI contributions need to be considered for people with multiple income streams. Flexibility of working may be more important to portfolio workers - they may need to change their hours/days at relatively short notice, etc
There is no doubt that portfolio working will become a common career choice in the near future, particularly for people over the age of 45. For organisations, it is a great way of getting expertise into the business without the cost of a full time employee.
For advice and guidance on incoporating portfolio career workers into your organisation, please contact us: