• Home
  • About Dan
  • Companies
  • Speaking
    • The 2022 Workplace Trends Keynote
    • The Hybrid Work Keynote
    • Total Well-being Keynote
    • Work 3.0 Keynote
    • A Whole New World of Work Keynote
    • Back to Human Keynote
    • Bridging the Multi-generational Gap Keynote
    • The LeaderShift Keynote
  • Books
    • Back to Human
      • Work Connectivity Index (WCI)
      • Online Course
      • The Millennial 100
      • Global Study
    • Promote Yourself
    • Me 2.0
  • Research
    • Workplace Trends Forecast
      • 2021
      • 2020
      • 2019
      • 2018
      • 2017
      • 2016
      • 2015
      • 2014
      • 2013
  • Courses
    • Hybrid Working Foundations
    • Managing Your Well-Being as a Leader
    • Emerging Leader Foundations
    • Personal Branding
  • Media
    • Podcast
    • Blog
    • Newsletter
    • Articles
    • Interviews
    • Spokesperson
    • Press
    • Quotes
  • Advisory
  • Contact

Future of Work Expert, Keynote Speaker, NY Times Bestselling Author - Dan Schawbel

Future of Work Expert, Keynote Speaker, NY Times Bestselling Author - Dan Schawbel

  • Home
  • About Dan
  • Companies
  • Speaking
    • The 2022 Workplace Trends Keynote
    • The Hybrid Work Keynote
    • Total Well-being Keynote
    • Work 3.0 Keynote
    • A Whole New World of Work Keynote
    • Back to Human Keynote
    • Bridging the Multi-generational Gap Keynote
    • The LeaderShift Keynote
  • Books
    • Back to Human
      • Work Connectivity Index (WCI)
      • Online Course
      • The Millennial 100
      • Global Study
    • Promote Yourself
    • Me 2.0
  • Research
    • Workplace Trends Forecast
      • 2021
      • 2020
      • 2019
      • 2018
      • 2017
      • 2016
      • 2015
      • 2014
      • 2013
  • Courses
    • Hybrid Working Foundations
    • Managing Your Well-Being as a Leader
    • Emerging Leader Foundations
    • Personal Branding
  • Media
    • Podcast
    • Blog
    • Newsletter
    • Articles
    • Interviews
    • Spokesperson
    • Press
    • Quotes
  • Advisory
  • Contact

Why Everyone Should Focus On Career Diversification

November 1, 2015 By Dan Schawbel • 2 Comments • Blog, Career Advice

I believe you should manage your career like you would invest in the stock market, never putting all your money, energy and time into one job or project, and always have multiple income streams to protect yourself from the uncertainty of the job market. If you lose your job, you become less employable unless you have a side job, project or business that will lead to your next opportunity. Companies can lay you off on a moments notice as their focus is on achieving the greatest revenue at the lowest cost and employees are the highest cost.

Your company could layoff your department after a merger and acquisition, which happens more regularly now as industries are consolidating. If you only have one income source, you are in major trouble especially if you are supporting your family. Getting laid off makes it really hard to find a job because the perception is that you are less valuable because you lost your job “for a reason”.

Let’s say you have a full-time job right now. Outside of work, you have the ability to write a blog, record a podcast, do freelance work based on your strengths or create your own company. By doing one or more of these activities outside of work, you are not only generating more income for yourself but if your company decides to do a layoff, you are protected. You’ll be still employed so it will be easier to get a new job or to take your business to the next level.

On the other hand, if all you have is a full-time job, and you get laid off, you are at the mercy of companies you are applying to. It will take months to get a new job, yet your expenses will still accumulate as you are job searching. The only way to create leverage in the recruiting process is by staying employed, at least part-time.

Think like a consultant with how you handle your career. Consultants have multiple clients not only to make more money, but to create a situation where they are diversified. If they lose a client, their business will still exist through the other clients. By diversifying your career, you will gain more leverage, become more valuable and never have to worry about finding a job again.


For more career advice, purchase my New York Times bestselling career books,
Promote Yourself and Me 2.0
.

Subscribe to the Workplace Intelligence Insider Newsletter

The workplace is changing rapidly and will continue to do so. Stay informed to learn about the global trends that matter.

« The New Rules For Getting Ahead At Work
The Self Discipline Required to Successfully Work From Home »

Comments

  1. Philip Lederer says

    November 1, 2015 at 7:20 pm

    Agree. Careers are changing. Employees lack leverage, we need to have a “Backup plan..”

    Reply
  2. Joan Axelrod-Contrada says

    November 9, 2015 at 4:25 pm

    Cool post, Dan. My mother always told me, “Don’t put all your eggs in one basket.” Sage advice from both Mom and you.

    Reply

Leave a Reply to Philip Lederer Cancel reply

Your email address will not be published. Required fields are marked *


CAPTCHA Image
Reload Image

Workplace Intelligence Weekly

  • Employee Voice is More Important Now Than Ever Before — Here’s Why
  • Attracting and Retaining Talent in an Employee-Driven Market

Read the newsletter archive 

Recent Podcast Episodes

  • Episode 187: Bethenny Frankel
  • Episode 186: Jennifer Grey
  • Episode 185: Fred Haise
  • Episode 184: James Murray
  • Episode 183: DJ Envy

5 Questions Podcast Episodes

Episode 187: Bethenny Frankel

My guest today is entrepreneur, reality TV star and author, Bethenny Frankel. Bethenny is the … Read the rest

Episode 186: Jennifer Grey

My guest today is actress and author, Jennifer Grey. Jennifer is best known for her lead role in … Read the rest

Episode 185: Fred Haise

My guest today is former NASA astronaut, Fred Haise. Fred served as a backup Lunar Module Pilot for … Read the rest

Older Episodes →

Older Episodes →

Subscribe to the Workplace Intelligence Insider Newsletter

The workplace is changing rapidly and will continue to do so. Stay informed to learn about the global trends that matter.

Copyright © 2022 DanSchawbel.com

Design by Charfish Design

Keep in touch: