Australians embrace side hustles for income & new skills

Research by Fiverr has revealed increasing support among Australian employers for employees engaging in side hustles as workers seek financial security and skill development.

The study indicates that nearly 70% of employed Australians are engaged in or considering side hustles, with a significant 81% of 16 to 24-year-olds participating actively in this trend. This demographic shift highlights a move toward career autonomy and integration of work and personal life.

Younger individuals are not the only ones joining the trend; 45% of Australians over the age of 55 are also involved in side projects.

This suggests a transformation in perceptions of retirement, with older adults opting to maintain economic activity alongside personal fulfilment.

The motivations behind side hustles are varied but predominantly financial, with over 72% of Australians in the study attributing their side jobs to income supplementation.

Additionally, skill development, work flexibility, and autonomy are notable factors that attract individuals to pursue secondary employment opportunities.

"Side hustles are no longer solely about earning extra cash; they are pathways to professional and personal advancement," says Micha Kaufman, CEO of Fiverr. "While income is still a powerful incentive for workers, it's promising to see how various generations are also leveraging side projects to gain autonomy and acquire new skills — showcasing a workforce that's more flexible, adaptive, and fulfilled."

The survey highlights that 79% of business leaders express support for side hustles, attributing benefits such as increased innovation and employee satisfaction to these activities. Nevertheless, transparency appears to be a challenge as only 33% of employees openly disclose their side activities to their employers.

Among larger companies with revenues between AUD $100M and AUD $500M, there is stronger support at 85%, compared to 74% in smaller firms with revenues between AUD $10M and AUD $49.99M.

The research explores the impact of side hustles on employee engagement in their main jobs, with mixed responses.

While 39% of leaders believe side projects enhance workplace engagement, 45% see no change, and 15% fear possible distractions.

Differences in perception are also notable among male and female leaders, with 43% of male leaders seeing an engagement boost compared to 32% of female leaders. Age also influences perspectives, as younger leaders aged 25 to 34 are more optimistic, with 48% noticing heightened engagement, whereas 59% of leaders over 55 noted no impact.

There is also a link between side hustles and employee loyalty, with 66% of employers recognising that supporting personal projects can strengthen commitment to their primary job. Millennials and Gen Z particularly support this notion, with 70% and 80% respectively believing in the positive effect of side hustles on loyalty, compared to 45% of Baby Boomers.

A notable 69% of business leaders are open to collaborating with employees on side projects that align with company objectives, suggesting an evolving workplace dynamic where personal and professional growth coexist.

As companies navigate these changing norms, it is crucial for them to integrate side hustles strategically, balancing the benefits of skill development and innovation against potential distractions.