Why it’s Risky to Be Risk-Averse

Most of US, optimistic or oblivious or both, launch into our working lives inadequately imagining the twists and turns we’ll encounter along the way. Plan B used to be something a rare few embraced at midcareer or, more often, in retirement.

But things have changed, at first slowly and then radically, and most of us have not adapted to the new normal. According to the Bureau of Labor Statistics, people now in their 50s have on average held a half-dozen jobs since they were 25. For Gen X-ers and millennials, the average is surely higher and rising–and it was compounded by layoffs during the Great Recession.

In the course of three national surveys I conducted with the global ad agency J. Walter Thompson, I discovered that more than half of Americans at all levels of the workforce are thinking of changing not only their jobs but also their careers. But of those who want to change, roughly 50% have no clue on how to figure out the next chapter. When the times are so intensely and perhaps permanently uncertain, it feels safer to hold on to a job that’s only O.K. or even worse. But is it? Just ask a veteran of the ’90s recording or automobile or newspaper industries.

In this new world, having a single Hail Mary Plan B is no longer enough. We need to tee up Plan Cs, again and again and again, throughout our working lives. Simply keeping your head down and hoping only to avoid risk is the riskiest strategy of all.

Kreamer’s new book is Risk/Reward: Why Intelligent Leaps and Daring Choices Are the Best Career Moves You Can Make