Women and men increasingly face work-related critical events during their lifecourse and experience risks that are not fully covered by unemployment insurance or other work related insurances. Social risk management of transitional labour markets (TLMs) aims at supporting people in navigating risky transitions between various employment relationships or between unpaid (but nevertheless productive) work and gainful employment through social insurance, continuous education or training and employment services differentiated according to the type of risk.
This essay outlines the theory of TLMs by starting with a critical review of the concept of flexicurity. It argues that the concept needs theoretical underpinning in order to avoid its arbitrary use for various political interests. It continues by developing the general principles and strategies of social risk management and provides examples on how to successfully manage social risks over the lifecourse in view of the ongoing process of revising the Lisbon strategy. The article ends by recommending the establishment of a worklife insurance consisting of three pillars: a universal basic income guarantee, the extension of unemployment insurance to employment insurance, supplemented by private or collectively bargained insurance systems.