Two roads diverged in a wood … I took the one less travelled by, and that has made all the difference.
Robert Frost – Author of The Road Not Taken Poem

What roads have you taken in life and work? Did you have choices of multiple roads? Why did you make the choices you made? Or, did circumstances dictate the choice for you?

How did you look at risk? These simple questions may help define your happiness in life and work. The more choices you have, the smarter the decisions you make, the higher the probability you’re happy.

Story: Your risk profile is a key factor in determining your work arc and your satisfaction: “New normal will largely be determined by individual behaviors – influenced by their own unique risk tolerances. Risk tolerance is the willingness to accept a range of risk, above or below an established risk reality – such as contracting COVID-19. On the low side, risk tolerance is actively avoiding contracting COVID-19. On the high side, it might be accepting symptoms, illness and even death as possible outcomes.”104

See the figure on the right. The target is your objective, what you want or require. The distance away from the target results in higher risk of not getting what you want. It’s also your risk tolerance or what you can live with. Each person has a different risk appetite or tolerance. What’s your risk tolerance?

Do you ever wonder why you keep doing the same things over and over again that don’t make you happy? One reason: you may be risk-averse. Or, you may feel comfortable by taking the well-traveled and familiar road in the above quote. It’s natural.

Most of us take the path of least resistance because it’s a known and well-trodden path. And, life seems to work this way. This is OK for most work decisions. Risk-taking person would aim for the higher rewards that come with taking higher risks. Risk-sensitive person may be the smartest. They don’t want to lose what they have by taking the unknown road leading to more risk. Try this Risk Based Decision Making and risk appetite visual:

“Designing risk management without defining your risk appetite is like designing a bridge without knowing which river it needs to span. Your bridge will be too long or too short, too high or too low, and certainly not the best solution to crossing the river in question.”105

Work Lesson Earned: Most of us assume different roles and make decisions based on COVID context. A risk-taker VUCA would work on a startup. A risk-averse person would want a full-time job with an established corporation, preferably doing core work. And, a risk sensitive

Person would be a hustling when the economy is expanding and a full-time employee when the economy is contracting.