More and more people are turning to side hustles to earn more cash, often doing something they really enjoy. And they have all kinds of goals. Maybe some want to eventually quit the day job. Some maybe want to diversify their income streams.
Whatever the reason, I’m personally a big fan of the side hustle and have always encouraged my own employees to go for it if they want.
But do all employers celebrate the side hustle? Or do some have reservations? I spoke to a number of employers to find out.
Omer Usanmaz – Qooper.io
Omer Usanmaz is the CEO and Co-Founder of Qooper.io.
The company employs over 40 people and some of them do have side hustles already. The company requires its staff to notify them if they do have some sort of side hustle, but Omer sees the positives in them doing so. He says:
"I think staff having side hustles can demonstrate creativity, initiative, and entrepreneurial skills, which can be beneficial in their primary job role. I believe that individuals shouldn't limit their capabilities in one place, they should always seek various experiences in order to develop and flourish."
Omer Usanmaz, Qooper.io
Qooper.io, he tells us, also has a mentoring provision for staff who have side hustles.
Omer told us that Qooper expects its team to notify them if they have a side hustle and that the only restrictions in place are that the side hustle “does not interfere with their primary job responsibilities, does not violate company policies or cause conflicts of interest and does not negatively affect their work productivity”
So Qooper.io is clearly a company that encourages side hustles providing they’re not of detriment to the employee’s day job.
But what about other companies?
Caroline Reidy, The HR Suite
Caroline Reidy is the Managing Director of The HR Suite, an HR consultancy.
The company employs 24 people and Caroline is aware that some of them already have side hustles.
She sees the positives in it but ultimately knows this can then lead to negatives like staff leaving to pursue their own businesses.
If it is a passion that they are pursuing outside of hour and doesn't interfere with their work I see no problem with it.
One of the main positives that I have seen is that it encourages employees to take an active role in the running of the business. Because they wish to grow their own business, they step up and want to gain as much insights and understanding into what it takes to run a business.
This of course leads to the biggest down side. Its great to see employees side hustle grow into a flourishing business but this unfortunately can result it the employee leaving. If they have stepped up and are taking on more responsibility they will have become a valuable member of the team. When they then leave it can be a great loss to the organisation.Caroline Reidy, The HR Suite
Caroline also raised the really important point about establishing whether someone is pursuing a side hustle out of passion or necessity. She said:
“I do think that its important to talk to your employee to determine if they are doing this extra work out of necessity for the extra money its important to establish if there is anything that you can do to help.”
And that’s a valid point. If your team is taking up side hustles and working out of hours to make basic ends meet there’s an argument for reviewing their pay package and ensuring you’re paying fairly and in line with market pay for that role.
James Wilkinson, Balance One Supplements
James Wilkinson is the CEO and Co-Founder of Balance One Supplements. This family owned business has 70 employees.
James admits he has no idea if any of his team has side hustles and has no policy which requires them to disclose them.
He sees the positives, not only for the employee, but also for his business, in members of his team having side hustles:
I think it's important to give employees the autonomy to pursue their interests when they are off the clock. As long as these hustles don't interfere with their day jobs, and they aren't working for a competitor, I'm all for everyone on my team to have a side gig. The main pro of my staff having side hustles is that they gain significant experience and business acumen running and growing an additional income source. This exposure is sure to make them better at their jobs, which is a major plus for my business.
My company also gets to save a lot of money on training costs for the employees with side hustles, as these gigs serve as real-life, first-hand training experiences.James Wilkinson, Balance One
Phil Strazzulla, Select Software
Phil Strazzulla is the founder of Select Software. The company employs 50 people.
Phil is aware that a number of his team have side hustles but his company has no specific policies on side gigs or additional earnings channels.
Furthermore, he sees the positives for both staff and his business.
I think it's great that an employee has multiple endeavors. It greatly helps them improve as an individual, which in turn can great benefit our organization through their efforts for us. It helps them be more entrepreneurial, take risks, and learn from mistakes. Some pros of our staff having a side hustle include gaining more knowledge in a particular domain, becoming more entrepreneurial, take risks and learn from mistakes on their own, becoming multi-faceted, gaining managerial skills, etc. Some cons can be being less focused on work and leaving their job to pursue their side hustle full-time.
Phil Strazzulla, Select Sofware
Select Software encourages its team to develop skills too. Phil adds:
“I’m always open for advice if they require my assistance. We also encourage them to buy business books and reimburse the cost and to embark on other professional development activities.”
So this is a company that actually facilitates its staff to learn more skills that could be applies in their side hustles.
Pros and Cons of Side Hustles for Employers
Of course, side hustles come with a range of pros and cons for the employer in the scenario.
On the one hand, the team member learns vital new skills and gets to showcase their creativity.
On the flip side, they may eventually resign to fulfil it full time.
However, staff leaving has always been a risk, whether they leave to do their own thing or to pursue another job. Some staff turnover is a fact of life.
So that, for me, wouldn’t ever stop me from encouraging my own team to pursue their side hustles.