A key mindset for South African businesses to embrace going forward in a tough, tough economy is embracing the benefits of the side hustle for employers as well as their employees.
This is perfectly highlighted in the Daily Maverick’s article on the Henley Business School of Africa (HBSA) ground-breaking study – “What is the future of work in South Africa? Examining the Side Hustle Economy.”
The reason this is so important is summed up by Jon Foster-Pedley, dean and director of the Henley Business School Africa, who highlighted in the article the fact that “these side hustlers and side jobbers are incredible, innovative, creative, and already among a company’s greatest assets.”
Those employees are the LAST people a company would want to lose when it comes time to tighten the belts and box smarter to stay alive.
“Side hustlers and side jobbers are incredible, innovative, creative, and already among a company’s greatest assets.” – Jon Foster-Pedley, Henley Business School Africa.
The article adds that, according to the study, “side hustling can help ‘stimulate entrepreneurship and build entrepreneurial skills’. Companies can also retain their best talent – talented employees prefer to stay with or work for companies that allow side hustling. Companies are also able to circumvent growing staff costs and salary expectations amid the rising tide of joblessness.”
South African business owners tend to have a mentality of demanding total loyalty and devotion, and the thought of their employees ‘cheating on them’ might touch a sensitive nerve in the office of the top dog.
The only solution for such business owners is to get their hands on a time machine and travel back to the 80s, 90s and 00s, because total loyalty is not on the cards in the current economy… unless you’re paying top dollar to your key players.