Why Letting Your Employees Pursue Side Gigs & Side Projects Can Benefit Your Business

Business owners often fear that allowing their employees to work in other businesses or take on side projects may result in lost productivity or a lack of loyalty towards their company. However, allowing employees to pursue personal interests outside of work can actually benefit both the employee and the business. In this blog post, we'll discuss why it's important to let your employees take on side gigs and side projects, how it can help with employee retention, and how it can remove the burden of always having to compete in the market for salaries.

1. Encourages Employee Retention: Allowing employees to take on side gigs or side projects can actually promote loyalty to a company. When employees feel they have more freedom in their professional life, they may begin to feel more satisfied with their job, leading to a decreased desire to leave for other opportunities. In fact, a study conducted by the Society for Human Resource Management found that allowing employees to explore and pursue their passions outside of work can actually be a major factor in reducing turnover rates.

2. Increases Productivity: It may sound counterintuitive, but employees who have the opportunity to engage in personal projects outside of work can actually become more productive on the job. When employees have more autonomy and creative outlets, they may be more motivated to complete tasks and problem-solve on the job. By allowing employees to exercise their passions, it may lead to more creative thinking and ultimately increased productivity.

3. Helps You Stand Out in the Job Market: Offering employees the option to pursue side gigs or side projects not only benefits those employees, but it also helps your business to stand out in a competitive job market. By offering unique opportunities and emphasizing the growth opportunities your company offers, you may be able to attract more high-talent applicants who are motivated to engage in multiple areas of work.

4. Removes Salary Competition: By offering employees the option to make additional income from a side gig or side project, you may be able to remove some of the burden of always needing to compete with the job market for salaries. By offering the opportunity to supplement income through other channels, you may be able to offer lower salaries without compromising the loyalty and satisfaction of your employees.

5. Promotes Skill Development & Creativity: Lastly, offering employees the chance to explore personal interests in the workplace can result in skill development and creativity. The skills they learn in a side gig or side project can often be applicable to their work in your company, leading to an even more diverse and skilled team. Additionally, promoting creativity and personal autonomy can lead to more innovative thinking and ultimately benefit the success of the business.

Encouraging employees to take on side gigs and side projects can be a win-win for both the employee and the business. It can increase productivity, employee loyalty, and even remove the burden of always having to compete for high salaries in a competitive job market. By supporting your employees’ passions outside of work, you’re not only making them happier but also improving the overall skills and success of your business.