Nearly half of young Irish adults have a 'side hustle', with almost three-quarters (72%) of 18-24-year-olds claiming that having just one job is "too risky" post-pandemic, according to a poll by recruiter Robert Walters.
Two-thirds of Generation Z workers claim to have a side hustle, and 52% of young Irish professionals surveyed expressed a desire to for a "portfolio career," allowing them to monetise their skills in several ways and establish multiple income streams.
Some 54% of young Irish workers have stated that flexible hours and a hybrid working environment is a must when looking for a job – otherwise it will impact their side-hustle.
Around 72% of 18–24-year-olds remain committed to a company whilst having a side-hustle, while 62% are most anxious about pay, and are living pay cheque to pay cheque.
Family commitments, working long hours, and fear of burnout are primary reasons holding older workers back from pursuing a side career, according to the study. Some 3,000 Irish professionals were questioned for the survey.
“Our survey has found that side-hustles are a priority for the next generation – and in some respects employers’ hands are tied given the ongoing candidate shortage and inability to keep salaries in-line with rising inflation and cost of living," said Suzanne Feeney, country manager at Robert Walters Ireland.
“However, this isn’t the way to view it. Portfolio careers have been a go-to for highly experienced and senior professionals who use their knowledge and offer consultancy, training or advisory services when near or post-retirement.”
Feeney said that 68% of Gen Z professionals state that their employer does meet their career expectations, the highest out of any other age cohort.
"A side or weekend job does not necessarily mean that an employee is not interested in progressing within their primary job," she added.
The survey also found Gen Z are twice as likely to report feeling anxious as their more experienced colleagues when it comes to job security, pay, relationships at work, and their mental well-being.
The average graduate salary in Ireland sits at €32,500 per year, whilst those taking entry-level positions can see annual average earnings of €28,000.
After tax, national insurance and student loan repayments, the average graduate in Ireland can look to be taking home about €2,279 per month, and those in entry-level positions could see monthly earnings of €2,011.
Feeney said side hustles -- such as giving financial advice on TikTok -- could be of great value to a professional's primary employer, and that firms should be "open minded" about their employees' extra-curricular activities.
"The traditional values of employees holding one job and being bound by moonlighting clauses in their employment contracts needs to be addressed," she said.
"Employers need to be flexible, and leaders must be empathetic that - for some – a side hustle is not just a passion-project but a necessity."
(Pic: Getty Images)