The side hustle is alive and well
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Inflationary pressures are pushing more workers to take on a side hustle, working part-time on top of a full-time job to make ends meet. Indeed, the number of workers with such an arrangement increased 6% year-over-year in October, The Wall Street Journal reported.
It’s not just blue-collar workers. White-collar professionals, too, are looking for gig work, whether in the form of a service job in retail or sales or starting an entrepreneurial venture on the side.?
The move isn’t unprecedented. The years after the Great Recession saw a boom in new businesses and startups. With large firms increasing layoffs and small businesses hampered by limited budgets, expect more workers to pick up a side hustle.
A 2021 LinkedIn survey showed that remote work and the flexibility it created led to an uptick in Black workers starting side hustles, and their own businesses. But one in three entrepreneurs said they did not inform their bosses of their plans, fearing retribution. It’s a missed opportunity for existing businesses to lure the next generation of talent and entrepreneurs.
“When we pay attention to the subgroups (in any industry), we can provide the support and/or learn from the trends,” LaToniya Jones wrote in response to the survey. “I started my business while working full-time. My employer fully supported my consultancy endeavors, even though it was an extension of my work.”
Do you know if any of your workers have side gigs? How do you encourage or discourage the practice?
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Founder of SMART OWL I Canadian Business Woman of the Year 2021 I Top 25 Inspiring EdTech Female Founders I Harvard Business Review Advisory Council Member I Advisory & Governance Board I Disciplinary Committee Member
2 年? Side gigs are a great way to start a business especially for those entrepreneurs who may not be in a position to leave the security of their jobs right away and while they are scaling their start-ups. ? With the massive tech lay offs are affecting workers globally combined with the rise of inflation, we will probably see more and more people in 2023 really hone in their entrepreneurial skills. ?? Entrepreneurship=Soft Skills Problem Solving, Leadership, Professional Attitude, Work Ethic, Critical Thinking, Teamwork, Time Management etc.
Industry Principal | Portfolio Manager | Multifamily SME | Data Junkie | Thought Leader | Centralization SME | Jewelry Designer | Orchid Enthusiast | Spoiler of Dogs | Crohn's Survivor
2 年Jordyn Dahl - I started my side hustle during the pandemic, mostly because I was bored to tears on the weekends and needed something creative to do. Since my regular business is mostly data analytics for multifamily real-estate - I knew I needed to exercise the other side of my brain. I started creating earrings and opened my online business. (www.bluebutterflybaubles.com) My employer is aware - and my work friends know because I talk about earrings in online "water cooler" conversations. The most interesting part of this whole experience? The data side of my brain was tired and waking up the creative side of my brain actually bled over into my data brain. I started coming up with some really good ideas for my full time gig! WIN WIN for me and for #RealPage!
Management and Operations
2 年There are an estimated 65 million adult Americans with a side hustle. These hustles range anywhere from Uber, Real Estate, Tutoring, Music Teaching, Flower Arranging and everything in between. In today's world, if you can imagine it, you can monetize it. The biggest problem hustlers have is how to market themselves, their classes, events and experiences. Most hustlers do not have $5k - $10k sitting around to market themselves. Check out the Nightlite Events app. This app was created specifically for hustlers to market themselves and earn income. The Nightlite Events app is a P2P platform that you create an event, post it and sell tickets. The app collects the fees for you and there is a whole host of built in features to help you market your event, all included in the minimal ticket fee ($1/ticket for events less than $30/ticket). It costs nothing to create and list an event. Most of us have a side hustle with dreams of turning that hustle into our main gig.?At Nightlite,?we would like to help by offering first time users the use of the Nightlite Events app to host your first event or class at no charge.?Let Nightlite help turn your hustle into your main gig. download at?www.nightlite.com?or in the app store.
Online media and marketing expert
2 年At Fud, Inc. our mission is to help side hustlers put more money in their pockets through content, community, and tools. We welcome all hustlers. Download https://apps.apple.com/us/app/fud-hustle-together/id1616818001 or https://play.google.com/store/apps/details?id=com.joinfud.fud&pli=1 for more. #joinfud #actionoriented #sidehustle #community