I’ve heard a lot of talks lately about side-hustles being the norm for many full-time permanent staffers in businesses right across the UK.
And to be fair, it’s estimated that around one-fifth of recently hired, full-time employees in the UK, have a side-hustle of some description. A sign of the times.
If it’s something done outside of contracted hours, what’s the problem? And whether it’s to make some extra income or scratch an itch not being satisfied with the day job, who cares?
But for business owners in the SME space, there are a few potential pros and cons to think about, when your team is also running side-hustles…
✅ Opportunity to earn extra income may have a significant, positive impact on employee well-being
✅ Employees will often gain skills that are transferable and helpful – both for them and for your own business
❌ Risk of engaging in competitive behaviour
❌ Intellectual property rights issues
❌ Potential contract violation
❌ Impact on your business reputation
❌ Employee performance can suffer
❌ H&S issues if employees are not sufficiently rested
❌ Use of company assets a risk in some cases