Side hustles are increasingly common amongst Britain’s workforce, with 43% engaging in activities for extra income.
- Men are more likely than women to have side hustles, with 49% involved compared to 37% of women.
- Millennials and Generation Z are major players, with notable income from these ventures.
- The trend persists despite concerns from some leaders about potential distractions to primary roles.
- Effective leadership involves open discussions and compromises regarding side commitments.
In Britain, side hustles have become a prevalent means of supplementing income, with 43% of the working population engaging in these activities. Men are more involved than women, with statistics revealing that 49% of men take part in side hustles compared to 37% of women.
Millennials are a significant group in this trend, earning an average of £1,208 per month from side jobs, while over two-thirds of Generation Z are also partaking in secondary income streams. This progression underscores a shift in workforce dynamics influenced by economic pressures and the desire for financial security.
Despite notable figures like Professor Scott Galloway viewing side hustles as distractions, their popularity suggests they are here to stay. The critical issue for leaders is to set clear boundaries, ensuring that these activities do not conflict with primary job responsibilities.
Good leadership is characterised by understanding and negotiation. Employers are encouraged to engage in open conversations with employees about their roles and the impact of extra work on performance. This involves discussing whether side occupations help employees develop skills beneficial to their primary roles.
Some employers express concerns regarding conflicts of interest, particularly if the side hustles fall within the same industry or potentially hinder job performance. Yet, a flexible approach could prove advantageous, as side hustles may foster skills that enhance an employee’s contributions to their main job.
Employers should reflect on their initial sentiments towards side hustles, recognising the importance of a growth mindset and the opportunity to challenge preconceived notions. Performance should be assessed based on primary job duties unless evidence suggests otherwise.
Finally, understanding the motivation behind an employee’s choice to pursue additional work is vital. Whether for financial reasons or skill development, aligning this with primary job roles can enhance productivity and job satisfaction.
Side hustles present both challenges and opportunities for the modern workplace, necessitating thoughtful management and strategic dialogue.
