Financial pressures are increasingly pushing employees into second jobs. Susie Thomson, MD at Security Watchdog, looks at the growing trend and how it should be handled by employers.
Partly driven by the cost-of-living crisis, employers are coming up against a growing business challenge that also presents them with a tricky moral dilemma. And it’s an issue that’s off many HR directors’ radars.
Hints of an emerging trend surfaced late last year when a survey of 1,000 UK workers by Qualtrics found a third (34%) had looked for a second job to combat the impact of rising prices on their lifestyle, while 15% were planning to do so. A Royal London survey of 4,000 UK adults backed up these findings revealing that 5.2 million workers had taken second jobs, with 10 million considering following suit.
Fast forward to late May 2023, and new research by Deloitte has proven the trend is continuing – and on a global scale. The survey of 14,483 Gen Zs and 8,373 Millennials spanning 44 countries found almost half (46%) of the former have either a full or part-time job in addition to a main one, compared to more than a third (37%) of the latter.
Article by a 11 June 2023