In the near future roughly 50% of people in the U.S. workforce will have additional income sources outside their main job. It’s the Gig Economy. Whether it’s out of necessity, for play money, building their dream business or something else, the trend is expanding and can’t be ignored. So rather than fear it, we should embrace it!
Here are 3 reasons why you should encourage their entrepreneurial spirit.
1- Employees who have a side hustle business are more apt to understand the inner workings of how your business is run. They are more likely to give meaningful insights into process, product, and systems improvements because they have to do these kinds of things for their gig.
2- They are better problem solvers. Running your own small business forces people to know marketing, sales, supply chain management, finance, operations, etc. They don’t usually have their own staff so they have to figure things out. Their trial and error process and learning to ask for advice adds depth to their analytical side.
3- They manage their time better as well as other resources. It’s true that busy people are usually more productive and running any kind of small business or side hustle forces them to prioritize.
Imagine a culture where people’s ambitions are encouraged rather than feared. Of course the perceived downside to doing this(if you could call it a downside) is that they are more likely to leave to pursue their gig, but here’s a news flash…they’re probably going to leave anyway so why not turn them into a true ally.
Loyalty won’t be defined by how long they stay, but by the long term relationship you develop with them.
