The Advantages And Disadvantages Of Your Team Running Side-Hustles
I’ve recently heard a lot about side hustles becoming the norm for many full-time permanent staffers in businesses all over the UK.
It’s claimed that approximately one-fifth of full-time employees in the UK are creating an additional revenue stream. Sign of the times.
What’s the problem if it’s done outside of contracted hours? And who cares if it’s to supplement the income or to satisfy a void left by the day job?
However, when your team is also running side-hustles, there are a few potential pros and cons to consider for SME business owners…
✅ The ability to earn extra money may have a significant, positive impact on employee well-being.
✅ Employees frequently learn transferable and beneficial skills that benefit both them and your company.
❌ Risk of engaging in competitive behaviour
❌ Issues concerning intellectual property rights
❌ Possible contract violation
❌ Impact on your company’s reputation
❌ Employee performance may suffer as a result.
❌ Issues with health and safety if employees are not properly rested
❌ In some cases, the use of company assets poses a risk.
