Side Hustles are booming globally.
Surprisingly the Brits are out hustling the Americans with 44% of Brits having a second income in comparison to 34 % of Americans according to data sources. Either way side gigs and second income has become a normal way of life so how can organisations support this phenomenon in their organisational culture?
Firstly organisations need to understand what is driving this growth, 36% of Millennials, 30% of Gen X, and 21% of Baby Boomers and 40% of Gen Z are supplementing their income. Many things have changed in the labour market, the cost of living is exceptionally high, having a huge impact on the younger generations who have not yet accumulated wealth and the younger generations are using digital platforms to monetise their skills and passions to help support their financial goals.
So what can organisations do to support this?
We have some tips for you
1. Flexibility and remote work options will support your employees to commit to their main job and fulfil their side hustle dreams
2. Policy transparency is key to helping employees know any conflicts of interest
3. Skill development should be encouraged, entreprenurial skills is an asset to an organisation
4. Allow employees to speak openly about their passion, projects and side gigs so they can bring their whole selves to work
5.Connecting employees with mentors who have experience in balancing primary jobs with side gigs, offering advice and support for managing both effectively will positively impact the organisation and the efficiency of the employee in their main role
We have a few more tips on how to successfully maintain an inclusive culture that supports the growth of side gigging.
You can reach out to us if you would like to know more.
Data sources are:
