Two thirds of professionals under the age of 24yrs claim to have a ‘side hustle’ – with 74% stating it is ‘too risky’ to focus on just having one job as they may have done pre-pandemic.
In a poll of 6,000 professionals, undertaken by recruitment consultancy Robert Walters, 54% of young professionals expressed a desire for a ‘portfolio career’, i.e. monetising skills in several ways and having multiple income sources, rather than a single job at one company.
In fact, 53% of young workers have stated that flexible hours and a hybrid working environment is a must when looking for a job – otherwise it will impact their side-hustle.
In addition, the survey revealed that 18–24-year-olds reported feeling twice as anxious as their more experienced colleagues in the past 18 months around job security, pay, relationships at work, and their mental well-being. The inability for employers to keep increasing salaries in-line with inflation or cost of living means that the young professionals situation is only worsening, leading them to looking for additional sources of income.
Toby Fowlston, Chief Executive of Robert Walters said:
“The traditional values of employees holding one job and being bound by moonlighting clauses in their employment contracts needs to be addressed. Employers need to be flexible, and leaders must be empathetic that – for some – a side hustle is not just a passion-project but a necessity. Businesses should have an open mind about their employees’ extra-curricular activities, and encourage them to bring that level of initiative and entrepreneurialism to the workplace.”