Summary
Despite the commonly held belief that a protean career orientation (PCO) enables employees to achieve more balance in their lives, little is known about the relationship between PCO and work–life balance. Using two waves of data collection separated by 2.5 years, this study examined the relationship between PCO and work–life balance among a sample of 367 college‐educated employees in the United States. Analysis was conducted to empirically distinguish PCO from conceptually related constructs, and structural equation modeling was used to examine the process that explains the linkage between PCO and balance. We found that PCO was positively related to work–life balance. We also found support for the role of several resources (social capital, psychological capital, and perceived employability) that explain the relationship between PCO and balance. In particular, PCO was associated with extensive career planning activities that were related to the accumulation of three forms of career capital—human capital, social capital, and psychological capital. In turn, social capital and psychological capital were associated with high employability, which was related to greater work–life balance for individuals who take a whole‐life perspective on their careers. We discuss the theoretical and practical implications of the findings and provide suggestions for future research. Copyright © 2015 John Wiley & Sons, Ltd.