In recent years, the phenomenon of the “side hustle” has become increasingly popular. A side hustle is defined as a freelance job or gig that someone takes on in addition to their primary source of income. For many people, side hustles are a way to bring in some extra money to help pay off debt, save for a big purchase, or simply have a little extra spending money each month. With the cost of living crisis putting extra strain on people, more and more of your employees may be looking at taking on secondary employment to make ends meet.
Should you be worried about this new trend? Or is there a way to manage it so that it actually benefits your company?
There’s no easy answer when it comes to whether or not you should allow your employees to take on a second job. On the one hand, it can be seen as a great way for them to earn extra money and gain new skills. On the other hand, it could potentially interfere with their work for your company. So what’s the best course of action? Let’s explore both sides of the issue so you can make an informed decision for your business.
The pros of allowing your employees to take on a second job
Allowing your employees to take on a second job can be an effective strategy for employers of all sizes. The extra income derived from part-time jobs can be a significant benefit for your employees, as it enables people to make ends meet and have a better quality of life.
At the same time, employers may see an improvement in productivity, motivation and loyalty among staff who are employed in multiple jobs. This is because these employees often work harder and demonstrate greater commitment to the workplace due to their outside ambitions.
By showing understanding that they are trying to make ends meet, employers create additional goodwill which helps them retain more valuable talent over the course of time.
The cons of allowing your employees to take on a second job
Allowing your employees to take on a second job can have a number of cons, as it has the potential to conflict with their primary job. If the secondary job is at odds with the values of your company or distracts from their priority tasks, then you are likely to experience declines in employee performance and morale.
Additionally, problems may arise from employees taking on too many hours between two jobs or being tempted to give priority to the second job due to increased money incentives.
It is important that employers consider all of these risks when allowing employees to pursue other work opportunities and put clear expectations around what they hope to gain from allowing this policy.
How to make the decision that is best for your business
Making the best decision for your business isn’t always easy. It involves balancing high-level goals, customer preferences and the bottom line. What works today may not work tomorrow, so it can be helpful to think of your decision as an experiment – and then measure and analyse its results. Whenever possible, take a scientific approach by gathering data first, making an informed guess and then testing it out. Experimenting with different approaches along the way may lead you to more creative solutions than what you originally envisioned.
If you do allow your employees to take on a second job, how to manage it
When it comes to allowing your employees to take on a second job, there are certain best practices you should adhere to in order to ensure everyone involved is comfortable and knows what’s expected of them.
First, as an employer it’s important that you respect the schedule created by their other job by not expecting them to come in earlier, later or take fewer days off than they’ve agreed upon with the other employer.
Secondly, you have a responsibility to ensure the safety of your employee when they work hours outside normal business hours, so make sure home office arrangements are mutually beneficial and provide all necessary support for remote working.
Finally, set clear guidelines regarding how you would like your employees to manage conflicts between their two jobs as far as holidays and special events go – communication can help you both stay focused and know what’s expected!
What policies you should put in place if you do allow your employees to take on a second job
If you are thinking of allowing your employees to take on a second job, it’s essential to draw up some clear policies that all staff should follow. Not only does this provide clarity for everyone, but it also reduces the risk of any conflicts of interest arising. For example, make sure that there is a strict policy in place so that no staff are working for a competitor from their secondary job. Don’t forget that they’ll be representing the company while they’re working on the side!
You could also consider having a limit on the number of hours that someone can work outside of your business and remind them to communicate with their colleagues if they think their other job might interfere with their core duties. Taking care over this detail will help ensure employee satisfaction as well as protect your own interests as an employer.
If you’re thinking about whether or not to allow your employees to take on a second job, weigh the pros and cons we listed. Ultimately, you need to make the decision that is best for your business. If you do decide to allow your employees to work a second job, be sure to set clear policies and expectations in place from the start. This will help minimise potential problems down the road. For further support, visit Lodge Court.