To borrow from an old cliché, "Nothing ventured, nothing gained,” taking risks is necessary if you want to progress in life. Such is the case when it comes to risk taking in the job market. Many job seekers are nervous about making career decisions which fall outside of their safe zone; but the failure to take some calculated risk could stifle your career in the long-term. Below are a few tips on how to successfully take calculated risks:
- First determine how big of a risk you’re really taking. For example, the risk of quitting your job in the middle of a recession may be a lot higher than the risk associated with simply moving to another department. One way of determining how big of a risk something is, is by pinpointing what it is that you may lose.
- Second, determine the pros and cons of making the decision to do something. For example, leaving your job for another career opportunity may yield a higher salary, better benefits and the opportunity for advancement, that’s a benefit. On the other hand, the new job may not work out and you may end up unemployed, which of course would fall under the “con” category.
- Third, don’t just weigh the pros and cons, also weigh the likelihood of something happening. For example, how likely is it that you would be fired by that new job compared to the likelihood of never being promoted in your current job? While there is no “crystal ball” where you can see the future, you can make an informed guess about the likelihood of a particular event taking place.