The ongoing pandemic has prompted many Americans to embark on the adventure and engage in entrepreneurship. According to a survey of 2,001 Americans over 18, led by workflow automation platform Zapier, one in three Americans had a secondary business at the start of 2021. Twenty-four percent planned to start one in the future.
Side activities can be great for earning extra income, creating financial stability, and providing flexibility in your life. But how do you approach your side fuss with your full-time boss?
Talking to your boss about your sideline can be tricky, but that doesn’t make it impossible.
CNBC Make It spoke to Jazmine Wilkes, a human resources professional, blogger and speaker with five years of experience and a deep understanding of employee engagement, talent management, diversity and inclusion to discuss external income dos and don’ts with your employer.
Determine if your side activity is significant enough to be disclosed
Before you strike up a conversation with your boss about your side business, consider whether the information will benefit either party. A harmless hobby that doesn’t compete with the business or interfere with working time may not matter to your employer. However, a side activity that will have a direct impact on the performance of your full-time job could be detrimental.
Wilkes says balance is the key to juggling a full-time job.
“Time is a big problem,” she said when asked about the challenges of sustaining multiple sources of income. “You don’t want to lose your full-time job because of a lack of commitment. Be respectful of the time you have committed and hold yourself accountable. “
People who find it difficult to manage their time can opt for more passive income opportunities, which help you earn money without active involvement. Stock market investing, affiliate marketing, and cryptocurrency are just some of the many passive income opportunities that have grown in popularity this year.
According to CNBC, more than one in 10 Americans has invested in cryptocurrency in the past year. Twenty-four percent of Americans invested in stocks during the same time period.
When determining how to tell your boss about your side activity, Wilkes says employees should always refer to the employee handbook.
“It’s important to check your employee manual and find out if there is anything in there regarding getting another job,” she says. “For example, if you work for a competing company, which is a no-no, the manual will tell you how to navigate about it.”
Wilkes says, on a lighter note, if your sideline is related to your full-time job, you may be able to leverage it in a way that helps both parties.
“Ask yourself if it could possibly benefit the company if it is willing to take this risk? ” she says. Wilkes, for example, used his knowledge of HR and employee relations to launch a Blog and YouTube show with a professional HR colleague, Kristina minyard. She has also spoken at several conferences with the support of her full-time job, which has allowed her to market herself and better understand her work environment.
While it can be intimidating to have these kinds of conversations, Wilkes says it’s best to “just rip the bandage off.”
“If your side business is going to change the way you work full time, you need to be open and honest with your business, especially if you still want to receive a paycheck from them,” she said in a statement. . blog post.
Wilkes emphasizes the growing need for secondary scrambling since the start of the pandemic.
“People are almost forced to have a side job these days,” she says. “Whether it’s two separate jobs, or applying for a remote job and doing Uber alongside, the pandemic has made work more flexible. Employers recognize that, so just have the tough conversations.”
Wilkes points out that the most important piece of advice is to “make sure that you don’t lose your full-time job by continuing your secondary activity”.
“A side activity is not a main activity, choose the one you want to keep and the one that helps you achieve your dreams.”
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