Evolution of the ‘side hustle’ and why millenials amp it up

Business Daily Kenya:  Being employed is important. It gives assurance that skills gained during one’s studies are important and do pay. In...

Business Daily Kenya: 

Evolution of the ‘side hustle’.

Being employed is important. It gives assurance that skills gained during one’s studies are important and do pay. Interestingly, that was only feasible to individuals born during ‘baby boomers’ time in 20th century. Generation Y (18-29 years) could be less interested.

They want to create jobs for themselves. Bruce Njagi, Chief Executive Officer, Ace Technologies, argues that the global economic downturn is breeding a new generation that totally sees things differently.

According to Njagi, the economic slowdown – which is also being experienced in developing countries, has led to the creation of a new wave of self-employed individuals.

Njagi says the age of looking for jobs was only characterised by the baby boomers (age between 48-65 years) generation and the Gen X (30-47 years).

However,the Generation Y is employing different tactics altogether to earn a living. Most people who have lost jobs as a result of global economic crisis are reinventing themselves as independent contractors, freelancers and consultants.

Those who still have jobs look for a side hustle to supplement their earnings. “To be satisfied, a side hustle is the way to go,’” Njagi says.

Njagi advises students in schools, colleges or universities that employment is good, but cannot bring the freedom your own business can afford you. “You must be ready to put up something on the side to earn additional income,” Njagi says.

“One need not come face to face with the harsh realities of life to start a business on the side,” says Njagi. Njagi’s appeal of self-employment coincides with a trend towards outsourcing of non-core functions, which has seen many organisations reduce their permanent workforce, creating new opportunities for these freelancers, says the report.

“The idea of being a freelancer is exciting professionals. They believe they are skillful enough to move away from traditional employment,” he adds.

In terms of generational perspective, there is a pattern of younger workers being more enthusiastic than their older counterparts about embarking on a more flexible and entrepreneurial work arrangement. - Zachary Ochuodho

The post Evolution of the ‘side hustle’ and why millenials amp it up appeared first on Mediamax Network Limited.

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