The era of "one job to the end" has passed! Generation Z loves to work part-time. What do they want to gain from their side hustle?

In the past, it was common for people to devote themselves to a full-time job in their career, but it may be a minority among Generation Z people. A recent survey pointed out that more than 60% of Generation Z respondents have a side job or plan to have a side job, which may be a warning sign for companies and human resources.

More than half of Generation Z have side business plans. Is the era of "one job to the end" over?

A recently released survey by software company Intuit, "The Side Hustle Generation: Gen Z and Millennials Redefine Financial Success," mentioned that among young people aged 18 to 35, nearly two-thirds of people claim to already have a side job or plan to start a side job. Having a job other than a full-time job seems to have become a common trend in the new generation.

It is worth mentioning that a survey conducted by consulting firm Kantar last year also found a similar trend, with about 40% of Generation Z employees having more than one job.

The reason for starting a side job is not just for money. Nearly half (49%) of the respondents revealed that their main reason is to be their own boss, that is, to start a business. More than 40% (42%) said that it is I hope to pursue my passion through side hustle.

"Work is a source of identity for many people." Meredith Meyer Grelli, assistant professor at Carnegie Mellon University's Tepper School of Business, pointed out that this kind of passion-based career is a way for many people to explore interests and ideas outside the main career path, and young people are looking for self-worth.

Intuit pointed out in the survey, "Unlike past generations who pursued stable, long-term corporate careers, Generation Z and Millennials are pursuing their own paths and are pursuing self-realization, diversified income sources, and creative independence. " There is such a high proportion of young people starting their own side businesses, partly due to the advancement of digital tools. More than 80% of Generation Z entrepreneurs run online businesses and use various social groups, e-commerce platforms, or financial and marketing tools to expand their businesses.

The hit rate of these side businesses is very high. Only 3% of the respondents said that the business failed. Most people will immediately change the track as long as the development is not smooth, and they can make profits within 3 to 6 months on average. "Fortune" pointed out that another study published by the financial services company Bankrate mentioned that a side hustle can generate an average income of more than US$ 10,000 per year.

Especially in recent years, the turbulent employment environment has also made Generation Z aware of the need to diversify risks. The jobs of their elders may no longer be a stable career choice, and it is easy for them to see how their peers reveal themselves through social platforms and other channels. Create new avenues through side hustle and shine online.

Not everyone can be a time management master, and side jobs may affect your performance at your regular job.

But young people are increasingly inclined to start their own side businesses, which may not be good news for companies and human resources. The reason is that time is always limited. As many as 44% of sideline workers said that lack of time is their biggest problem with multiple jobs. More working hours may affect the health and mental state of young people, which will then be reflected in their regular job performance.

Kira Schabram, assistant professor at the University of Washington's Foster School of Business said that when performance at full-time jobs continues to decline, it is a warning sign that side hustlers are struggling to maintain balance. Young people are often dragging down their health and happiness without realizing it. , leading to excessive fatigue.

Employees may even directly use their working time to work on their side jobs. Especially when remote working and hybrid working have become the norm, it has become easier to use working time to do their own things. Ariane Ollier-Malaterre, a management professor at the University of Quebec in Montreal (Université du Québec à Montréal), pointed out that because work is more flexible than before, "They may do other jobs and part-time jobs at any time, including during office hours."

So is it good to prevent employees from doing side jobs and part-time jobs? Schabram believes that if employees have financial needs, the company cannot prevent them from doing side jobs, "they will just hide it better."

To prevent employees from spending time on side jobs, which in turn affects their regular jobs, companies need to provide adequate salaries, set up fulfilling work content, and provide adequate support in all aspects to dissuade employees from earning extra money.

Source: Fortune, Intuit, BBC