As career professionals, we frequently address risk and risk-taking when we support our clients in meeting their career goals. We may refer to it as a transition, a move, a start or a change and may not frame it as “risk-taking.”
Ultimately, however, our work is about facilitating change; since change often involves navigating some risks, we are continuously helping our clients assess and respond to different elements of risk.
In this article, I outline practical ways we can support our clients through risks, as they determine their career and work paths.
Self-awareness of risk-tolerance
Risks are an inherent part of most career transitions and can be physical, financial and/or emotional. They may be perceived or real and they can fluctuate over time. Clients will have different tolerances to risk and may be comfortable with risks in some areas but not in others. For example, a client may be willing to relocate for a contract position but only if her salary expectations are met. From a risk perspective, she is willing to experience the (higher) emotional risks that are part of moving to a new organization, new city/country, but is not willing to compromise (i.e. risk) her financial stability.
We can help our clients grow their awareness of their relationship to risk by asking them questions such as:
- As you consider your next career move, what concerns you the most?
- What is non-negotiable?
- What do you need to feel safe/secure as you transition to your next position?
- When you think back to previous career decisions, would you describe yourself as impulsive, cautious or calculated? (Ask for concrete examples)
Normalize it: Fear and risk often co-exist
When our clients communicate their fears, stress or anxiety to us, we can help them normalize these feelings.
Here’s how:
- Acknowledge the client. This helps the client feel heard and also subtly communicates that you are not worried or put off by their fear. A simple statement, such as “I recognize that this process is stressful,” can suffice.
- Augment the client’s emotional awareness. You can encourage your client to get specific about the emotions they are experiencing and assure them that doing so helps them make sound decisions (McLaren, 2010). Some of the ways to enhance emotional awareness around fear and risk include mindfulness and using the wheel of emotions.
The above strategies help assure your client that fears they have about the risks associated with their career challenge are “normal.” Being assured of that, your client will be able to determine their next steps when it comes to risk mitigation.
Risk-mitigation strategies
There are two main strategies to mitigate risks: avoidance and reduction.
Once a client has identified the emotional, physical and/or financial risk(s) that exist in their specific situation, they can select the strategies that best address these risks.
Avoidance
To reduce their exposure to risk in the context of a career change, a client can choose to step away from a situation, delay a decision or cancel a plan of action.
Sometimes, we need to call attention to the “avoid” option. For example, many of my clients have worried about “what ifs” of a particular job offer before they have been offered an interview! I assure them that they can make decisions along the way and that saying “yes” to an interview does not mean they must accept the offer, should one be presented. I remind them that they can withdraw their application (i.e. avoid) if they determine the fit is poor.
You can suggest to your clients that they develop a set of criteria that will make it clear what they need to avoid. For example, if they want to work remotely full time, they would avoid any positions that are hybrid or in-person.
Finally, if you notice that your client is fixated on a singular path and, consequently, missing out on other possibilities, you can work with them to develop alternatives and expand their definition of success. We have probably all had clients who get tunnel vision (“this is the best and only route for me”), and inadvertently avoid job or career options to their detriment. When we help them identify the qualities that make a particular job desirable, they amplify their options.
Reduction
Risk-reduction strategies your clients can use include:
- Gather more data: This consists of doing research (e.g. looking into a company’s culture, doing informational interviews, etc.) and assessing how robust the existing data is (e.g. has there been an attempt to gather multiple perspectives?). Caution: Clients who feel comfortable with the data-gathering phase may use it as a stalling tactic to avoid taking action.
- Test the situation: Encourage your client to get direct experience in the area they plan to move into. True story: When I was in my early 20s, I was convinced I wanted to move into the catering business; I did one shift as a banquet server in a hotel and realized I was way off course!
- Diversify: The “portfolio life” refers to having a multi-faceted career (and life) consisting of different income streams simultaneously or over time. Invite your client to determine to what extent this appeals to them and, if relevant, what that might consist of.
- Have a contingency plan: Individuals often focus exclusively on optimistic scenarios when they engage in career planning (Brill & Clark, 2021). While we want to encourage a positive mindset, having a contingency plan (or a few) is important.
- Share the risk: This refers to assessing the type and level of support a client has at hand. For example, they may have a spouse or parent who can support them for a short while, or they may have a supervisor who can mentor and advise them.
As career professionals, we help our clients navigate change and risk and we play a pivotal role in supporting them to make sound decisions that manage and reduce risks.
