Gen Z Workers Embrace Side Hustles for Essential Career Skills Development
Gen Z Workers Turning to Side Hustles to Build Career Skills
Source: HR Dive
Overview of Side Hustles Among Gen Z
Amid economic uncertainty and layoffs, Generation Z workers are increasingly leveraging side hustles not just for supplemental income but to develop valuable career skills, highlighted in a recent report by Quicken.
Key Statistics
- 44% of Gen Z individuals engaged in side hustles are focused on skill development for future careers.
- 72% of workers prefer self-employment and managing multiple jobs over traditional corporate roles.
- 40% of respondents dream of quitting their full-time jobs to pursue side hustles exclusively.
- 72% of side hustlers feel more financially secure; 67% report reduced financial stress.
Motivations Behind Side Hustles
According to Eric Dunn, CEO of Quicken, side hustles serve as a path to financial independence and personal fulfillment, transforming into essential training grounds in today's evolving economy.
Fiscal and Skill Development Impacts
Surveys indicate that:
- 18% of U.S. workers view side hustles as opportunities for building future-ready skills.
- Gen Z workers are particularly focused on addressing financial pressures through secondary jobs.
Challenges Faced by Gen Z in the Workforce
Despite their entrepreneurial spirit, Gen Z workers confront significant challenges in the job market, including hiring biases and struggles to adapt to workplace dynamics.
Hiring Manager Insights
- 33% of hiring managers prefer older candidates for entry-level positions.
- 30% have reported having to release a Gen Z employee shortly after hiring.
Workplace Ethics and Compliance Issues
Gen Z's approach to workplace norms also varies, with some studies revealing a tendency to question corporate codes of conduct.
Notable Findings
- Gen Z employees are more likely to bend rules to accomplish tasks.
- This could lead to unique ethical challenges for employers navigating generational differences.
Conclusion
As Generation Z continues to navigate a complex job landscape, their side hustles feature prominently in shaping their skills and financial security, despite the challenges they face.
