Remote employees are venturing into side gigs more frequently than their in-person or hybrid counterparts, potentially due to flexible schedules and reduced commute times.
A recent survey conducted by LinkedIn involving 8,606 U.S. professionals indicates that remote workers surpass their peers in taking up side hustles. Specifically, 34% of remote professionals engage in additional income activities compared to 29% of those working in-person. This trend is even more pronounced among freelancers, contractors, and self-employed workers, with 52% of freelancers reporting side gigs.
The nature of these side hustles varies, encompassing roles such as consulting, rideshare driving, and rental property management. The time saved from not commuting is a significant factor contributing to this trend. According to traffic analytics firm INRIX, supercommuting, defined as traveling over 75 miles to work, has been increasing, alongside extended commutes in major U.S. cities.
Moreover, some remote workers leverage their flexible work conditions to maximize productivity and income. For example, content creation and selling items on platforms like Etsy are popular avenues. Certain individuals strategically schedule their side hustles, such as Uber or DoorDash driving, around their primary job responsibilities. Despite challenges like declining earnings and heightened competition, the added flexibility remains invaluable to many.
However, the impact of remote work on productivity is debated. Research from Stanford economists highlights a 10% reduction in productivity for fully remote setups compared to in-person environments. Conversely, other studies identify no significant productivity changes with hybrid work models. These conflicting findings underscore the complex dynamics of remote work arrangements.
Personal anecdotes from various professionals illustrate the diverse strategies for income diversification. Jesse Singh, for instance, transitioned from dual nursing roles to focus on his real estate enterprise, ultimately selling a $2.2 million property and reducing his nursing commitments. Similarly, Natalie Fischer left her corporate position to develop her finance content creation business, anticipating over $150,000 in revenue for 2024.
The concept of “overemployment,” where individuals secretly manage multiple remote jobs, is another facet of this phenomenon. Some professionals articulate no remorse for juggling these roles, citing substantial financial benefits. For example, a Californian account manager known as Patrick manages two full-time roles and freelance work, approaching an annual income of $200,000.
The rise in side hustles among remote workers is indicative of shifting work landscapes, where flexibility and alternative income streams become increasingly viable options.
Source: BusinessInsider
