Side hustles are commonly considered hobbies or gigs to make extra income. But with the gig economy becoming prevalent, many full-time employees are also opting for side hustles.
While most businesses and their HR departments consider employees’ side hustles as a threat to their business, there are many reasons they, in fact, benefit the employer. But before looking at the ideal and only response learning of employees’ side hustles requires, it is essential to remember that the gig economy favors employers more than employees.
How Gig Economy Favors Businesses
The gig economy saves hundreds and thousands of dollars for businesses. If you haven’t tried it for your work organization, you must give it a chance to deepen your understanding. After all, nobody can find a side gig if none is being offered in the first place.
Hiring people for small jobs saves from hiring them full-time, which not only costs more but also requires offering employee benefits, paid vacations, etc. It also saves the HR department time and resources on communication and paperwork as the need for both diminishes to only when needed. Hiring for a small task is much easier than finding a full-time employee. Businesses can save even more money by outsourcing small jobs to offshore gig workers.
The Ideal and Only Response to Employees’ Side Hustles
As an HR personnel, you must respond positively to employees’ side hustles. While you may want to learn how much money they make and how they find customers, it is best not to pry. HR personnel are bound by duty to prioritize the organization’s best interests, and employees are well aware of this fact. Therefore, asking too many questions can make them cautious of your intentions. However, you can inform them that you support their hustle attitude and wish them the best of luck.
Benefits of Supporting Employees’ Side Hustles
Getting support from the organization’s representative, i.e., HR personnel, for their side hustle can build a positive image of the organization and motivate employees. Receiving a positive and accepting response conveys to employees that the organization cares about them and their career progression, even if it’s in the same industry as the organization. It also shows the organization’s confidence in itself, which can help employees believe in the organization’s vision and values even more.
Employees are less likely to quit an organization that supports their independence and entrepreneurial skills and trusts their ability to manage work-life balance. They know they will have to disclose their participation in the gig economy when they switch jobs, which may or may not go well with the new employer. Thus, supporting employees’ side hustles also helps with long-term employee retention.
The current economic landscape, where thousands of workers are getting laid off without warning, has every employee worried about their financial security. Hence, it is only natural and expected of employees to make the most of their talents and have more than one income stream. Until they cannot promise to take care of their employees’ complete financial needs, organizations must not interfere in employees’ efforts to do the same.
