One of the most interesting developments in the Future of Work debate has been the rise of side-gigging. But what is a side gig?
Side gigging is rising with more freelancers joining the revolution. In the UK alone in 2019 side gigs generated £72bn for the UK economy last year, or 3.6 per cent of GDP. In the US an MBO partners reports found side-gigging is up 51% in the last 4 years. Many skilled digital freelancers such as Data Scientists, Developers, UX/UI designers and Copywriters have been working on side projects.
The rise in people looking for a side gig is a directly linked to the Covid-19 global pandemic. This is due to people losing their jobs or realising that they want more freedom in both their daily lives and financially. This means that one in five freelancers are working a side gig while still being a full time employee.
Twitter reported a 231% rise in the number of mentions of ‘side hustle’ on its platform in 2021. Henley Business School estimates that side hustles generate £72 billion for the UK economy. Around one quarter of Brits now have a side hustle. However in comparison to America where 45% of US workers have a side venture in addition to their full-time job, the UK is quite a bit behind.
Transparency is important . It is always advisable to share that you are working on other projects and making sure your contract permits. It is also very important to ensure you manage your time effectively.