Career and Job Search Guide

Assessing The Risks of Career Change

According to Kelly Services, a large international, temporary work and staffing firm, more than half of working professionals are not content with their careers. Most people want to change their careers. Since quality of life is often determined by whether people are satisfied with their careers, it is not hard to understand why people associate career changes with escape. Many people are forced to change their careers resulting from job loss or industry collapse. For many, making a career change is the realization of a lifelong dream. No matter the motivation, changing careers is an intimidating endeavor.

  • Considering A Career Change
    If you are considering a career change, you should understand your motivations for making this decision. Are you suffering from boredom? Would you like to be relocated? Do you not like your current job? Is your current job affecting your lifestyle? Do you want a new career? However, be cautious, since changing careers can be a challenging and risky endeavor. Perhaps you can make changes in your current job to improve job satisfaction since changing a career poses many risks.

  • Reducing the Risk Associate with Changing Careers
    A person takes numerous risks when changing careers. For example, many people attempt to make career changes before having a new job. If you plan to make a change, you should have a contingency plan in case your original plans do not work out. It is especially critical to have a backup plan if you have a family depending on you. You must carefully consider your decision before making a career change. Many people discover that their new career is not any more enjoyable than their previous career.

    Many people make career changes to start a business. Starting a business—particularly a new one—is very risky. When starting a new business, people often take into consideration possible success without considering how they will raise money to fund their business and find customers. Over 1/3 of new business ventures do not succeed.

    Prepare a list of all the risks your taking before making a career change. Then, develop a risk assessment plan to (1) list risk priorities (2) determine risk probability. After determining risks, prepare a risk management plan to (1) steer clear of risks (2) prepare a contingency plan if the plan does not work according to plan.

  • Things You Should Consider
    If you intend to make a career change, but are not sure of the steps to take, take some time to consider what abilities you possess you can build on. A challenge faced by many in career transition is starting in industries where other applicants have better qualifications. If you identify your strengths and abilities, you will have better success during your career change. Before making a change, be sure that you have methodically examined your options, so you can be confident that you have the necessary qualifications to begin your desired career. Make sure you are aware of any special qualifications, training, or special knowledge required to enter a specific career field.

    The second step you should take before making a career change is taking time to consider what you like to do. Why make a change if you will not enjoy your new job? It is not necessary to make a lot of money to enjoy your career; however, you need to earn enough to pay your living expenses and have a high quality of life.