Almost half of British workers are turning to side jobs to boost their wages, and Generation Z is driving a rise in so-called “portfolio careers.”
The research, carried out by Censuswide on 2,000 adults, found that 45 per cent of people depended on various sources of income to maintain their lifestyle.
The trend largely relates to young people – the average fraudster earns an extra £590 a month out of their salary – around £7,000 a year in extra income.
And with one in five people found to be doing multiple side hustles in addition to their day job, it’s perhaps no surprise that Generation Z is the most reluctant to return to the office.
A previous survey found that half of these 16- to 24-year-olds would leave their jobs if they were forced to stay in the office more than three days a week.
And Generation Z is openly supportive of flexible working arrangements, with working staff grabbing a couple of coffees, taking care of household chores or, for some, even taking a nap during working hours.
But the latest research, published by Sage, found that 75 per cent of people in the UK believe that “working on the side” while holding down a 9-5 schedule is the “new normal”.
And 43 percent of those under 34 said their boss had allowed them to make changes to their work hours to accommodate their “side jobs.”
One person who has had success with the ‘portfolio race’ method is Natalie Glaze (above)
One person who has had success with the “portfolio race” method is Natalie Glaze.
Natalie, founder of Stay Wild Swim and By Glaze, created both businesses as side hustles while working full-time and describes it as a “balancing” act.
She said: ‘I started both of my businesses as side hustles while working full time, so I understand the hard work and passion that goes into balancing a main job with other ventures.’
Natalie said having multiple streams of income could well be “the future of work.”
‘Side hustles are the perfect way to immerse yourself in something you love without the risk of leaving your day job, and in today’s economy, they have become a crucial way to start a business with the safety net of a salary.
“It’s exciting to see that so many people now see side hustles as the future of work, and I can’t wait to see what’s next for this generation of entrepreneurs.”
The research found that around 71 per cent of those with ‘side jobs’ see them as a source of financial freedom, and 66 per cent of Generation Z are prepared to take on their projects full-time.
Natalie, founder of Stay Wild Swim and By Glaze, created both businesses as side hustles while working full-time and describes it as a “balancing” act.
Natalie said having multiple sources of income could well be “the future of work”
However, the majority of all age groups would prefer to keep their main job regardless of the success of their business.
Reselling is by far the most popular sideline, followed by freelance writing, handmade product manufacturing, tech support, and consulting.
Grace Hardy, founder of Hardy Accounting, said she has seen “firsthand” how Generation Z is “embracing side hustles to generate new streams of income.”
“We’re balancing everything from freelancing to digital reselling alongside our main jobs.”
It’s no secret that doing “side jobs” should be easier with hybrid working – that is, working part-time from home – and this could explain Generation Z’s reluctance to return to the office.
Research published in September found that almost half of young workers would leave their jobs if they were forced to go to the office more than three days a week.
Almost half of British workers are turning to side jobs to boost their wages, and Generation Z is driving a rise in so-called “portfolio careers.” In the photo: Stock image
In summary, the survey revealed a growing demand for flexible working, particularly among younger generations.
Four in ten (39 percent) of the 2,000 desk-based employees surveyed said they would quit if they were told to stop working from home more than three days a week.
But among Generation Z (ages 16 to 24) the proportion willing to quit smoking increased by half (49 percent).
A similar number of young workers (52 percent) believe that going to the office is a “waste of time and money,” according to research from human resources software company Personio.
And of the 1,000 HR managers surveyed, more than half (56 per cent) admitted their staff have been reluctant to return to their desks since Covid restrictions ended.