Latest news with #SideHustles.com
Newsweek
29-05-2025
- Business
- Newsweek
Nearly 25% of Gen Z and Millennials Plan to Quit Their Jobs This Year
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Nearly a quarter of Gen Z and millennial employees plan to quit their jobs within the next 12 months to pursue entrepreneurship, according to a new survey. The survey from found young employees are seeking more autonomy and meaning in their work, spurring a significant generational shift in workforce priorities. Why It Matters This generational shift toward entrepreneurship has the potential to reshape the United States' labor market, upending the traditional 9-to-5 model and influencing everything from skills development to employer-employee dynamics. As Gen Z was poised to outnumber baby boomers in the workforce for the first time in 2024, this trend could accelerate changes in workplace culture and the rise of the creator economy. The implications of this trend are being closely watched by employers, educators, and policymakers. What To Know reported that 79 percent of employed Americans showed interest in leaving their jobs to start their own businesses, with Gen Z and millennials driving the momentum. Data from their April 2025 survey indicated that 13 percent of Gen Z and 11 percent of millennials planned to quit their jobs within the next year, rates higher than those among baby boomers and Gen X. More than half of Gen Z respondents cited the pursuit of higher income as a primary motivator for leaving corporate work, compared to 49 percent of millennials and 45 percent of Gen X respondents. In addition, 46 percent of Gen Z reported seeking more purpose or autonomy, surpassing both Gen X (43 percent) and millennials (35 percent). Stock image of people working in an office. Stock image of people working in an office. Simon Turner/Construction Photography/Avalon/Getty Images "This kind of leap, this kind of risk, is easier to take when you're young, child-free, and have some cushion, whether that's savings, a partner's income, or just fewer bills," HR consultant Bryan Driscoll told Newsweek. "That's not an option for everyone. So when we see this trend, it's not just about ambition: it's also about who can afford to opt out of a broken system and who gets trapped in it." Data from Upwork's Freelance Forward Report showed that 70 percent of Gen Z workers worldwide were already freelancing or planned to do so, suggesting broad alignment with the entrepreneurial mindset. Another motivator was a lack of support in their careers, with just 21 percent of employed Americans saying they felt fully supported by their employers. Gen Z was the most likely to say that better mentorship or career development could encourage them to stay, with one in four indicating that such support would make them reconsider quitting. Concerns about financial instability (71 percent), fear of failure (53 percent), and the need for health insurance (41 percent) were the top reasons many hesitated to fully commit to entrepreneurship. What People Are Saying Drew Powers, the founder of Illinois-based Powers Financial Group, told Newsweek: "Especially post-pandemic, employees are looking for more in their work lives—more money, more meaning, more flexibility—all of which may be found in running their own business. Of course, what they may not realize is that it takes years of grinding to accomplish all three of those 'mores.' As the saying goes, 'business owners toil for decades to become an overnight success.'" Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "We've seen side hustles and part-time work that produces more income become increasingly popular with Millennials and Gen Z, and for good reason. These jobs can produce additional income to assist with rising expenses. For some, these side hustles become businesses of their own and have grown to be aspirational for many in both generations. "It's no surprise many are now attempting to make the jump from their current occupation to a self-sustaining business they can call their own." HR consultant Bryan Driscoll told Newsweek: "Gen Z and Millennials aren't running toward entrepreneurship because they all want to be the next Zuck, though I'm sure some think they will be. They're running away from toxic jobs and bosses, low pay, and employers who will discard them as soon as enough labor has been extracted. When work doesn't offer dignity, flexibility, or a livable wage, people find their own way. And increasingly, we're seeing that means building their own job." Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek: "First, they watched their parents grind through long careers with little freedom and, in some cases, not much to show for it. Secondly, they have time on their side. They can afford to take a shot at building something they actually care about. "Especially for Gen Z, it's not just about building another business. It's about building something meaningful. They want to make an impact. Profit matters, but purpose matters more." What Happens Next The movement of Gen Z and millennials into entrepreneurship is expected to intensify over the coming year, with further implications for the United States workforce composition and employer retention strategies. Ongoing labor market trends and generational dynamics will continue to shape how companies attract, develop, and retain talent as the entrepreneurial shift intensifies. "If the traditional employer-employee model keeps shifting, companies will have to pay more and offer more," Thompson said. "Gen Z and even Gen Alpha aren't afraid of work. They're just not willing to work for something that doesn't align with their values. They want purpose. They want flexibility, and they're not afraid to leave if they don't get it."
Forbes
02-05-2025
- Health
- Forbes
Micro-Retirement: One In 10 Americans Plan A Career Break In 2025
The trend of micro-retirement is gaining popularity in the United States The word 'micro' means small, but there's nothing small about micro's popularity. Everything seems to be going micro this year! I've written about micro-breaks, micro-chillers, micro-steps and micro-self-care. Now, Gen Z has popularized another micro trend: micro-retirement, a mental health detour on their career path. Workday disillusionment and a craving for more flexibility are pushing high-potential employees out of the workforce, with 91% of industries seeing a spike in top talent departures. Micro-retirement has become a popular landing place for employees seeking to manage job stress and gain work-life balance. Most of us think of retirement as something we wait 40 years to enjoy, receive the proverbial gold watch and sleep-in during mornings. But that image has become an empty promise for many retirees, embracing a modern version of retirement: micro-retirement--a planned, extended career break from work to rest, travel or explore personal and career goals. I wrote about this topic for last year. Instead of waiting until retirement to travel the world, Gen Z are taking micro-retirement between jobs to have time out from work stress, paving the way for the next generation of workers by continuing to prioritize a healthy work-life balance. They are to be credited, at least partially, for normalizing the belief that we don't have to drive ourselves into the ground to be effective in our jobs, that burnout is not a badge of honor for hard work and that work-life balance is essential for our mental health. Science shows when we take time out to rest and relax, we're more engaged and productive at work tasks. Science-backed studies, reveal that simple solutions like micro self-care--essentially the same as self-care, but in small, quick doses--prevents burnout and keeps careers afloat. Plus, taking micro-breaks--short breaks throughout the day--counteracts fatigue, boosts well-being and keeps stress from becoming cumulative. A new study of 1,000 American workers reveals that 54% say micro-retirement helps prevent burnout and boosts well-being. One in ten intend to take a career break or micro-retirement in 2025. The best way to understand how a micro-retirement works is to consider the five P's. 1. Purpose. A micro-retirement isn't an escape from a miserable job, overbearing manager or dream vacation. It has scaffolding and structure that starts with a purpose of why you want to take a career break: to recharge your batteries, recover from burnout, learn a foreign language, have self-reflection, contemplate your career path or pursue a hobby. 2. Plan. Once you know your purpose, you develop your intentions: how much time you plan to take off, how you will use it and the actions to achieve your purpose. Otherwise, you could fritter the time away. You're specific about how you will recharge your batteries, recover from burnout or learn a foreign language, etc. A friend of mine, for example, took a career break for language indulgence in Costa Rica to learn Spanish. The respondents in the study say they would take an average of four months off for a micro-retirement. 3. Pay. How will you financially support yourself during the break? According to the study, micro-retirees intend to save around $15K before taking a career break. The majority (67%) say they will rely on savings, with over 36% funding their micro-retirement with a side hustle or freelance work. 4. Pitch. The next step is to discuss your proposal with your employer. You might have to negotiate the time frame and the details of returning or not returning to your position. When I was a professor at the University of North Carolina at Charlotte, I took a year off to write a book. The Dean of my college hired someone to replace me for that year. But not all employers are open to the idea of a micro-retirement. 5. Ponder post-micro-retirement. After a micro-retirement, will you want to return to your position, continue with your side hustle or find another more meaningful position? You might not know until midway or after the break, but it's something to ponder. Over half (52%) of study respondents say they plan to return to their current employer, 13% intend to find a new job and 35% are undecided. Experts acknowledge that, while the trend sounds appealing on the surface, it's actually a red flag for employers. 'Micro-retirement is a reflection of the broader trends in today's workforce, such as burnout, disillusionment and a desire for greater flexibility and purpose,' says Phil Willburn, Workday's VP of people analytics. Willburn, a believer in work flexibility, references Workday's latest Global Workforce report, which shows high-potential employees leaving at alarming rates and promotion opportunities lagging in many industries. 'Job applications are growing nearly four times faster than openings, creating a competitive environment that leaves many workers feeling undervalued or stuck,' he told me by email. "In that context, it's no surprise that some employees are opting out, even temporarily, when they don't see a clear path forward. Micro-retirement becomes a form of agency in a job market that all too often feels uncertain.' Willburn advises that to stem the tide of micro-retirement, employers must create a culture of growth, invest in the employee experience and ensure that people feel connected to the 'why' behind the work. 'In today's evolving workforce landscape, meaningful work, flexibility and recognition are non-negotiables for keeping high-potential talent engaged and thriving,' he argues. Paul Farnsworth, president of Dice points out to me another caveat, especially for tech professionals. "Tech professionals who are feeling burned out and have earned enough from their specialized skills are taking temporary or micro-retirements decades ahead of their expected retirement date, but taking one of those also requires the confidence that your skills will still be relevant when you re-enter the industry.' Willburn suggests that employers address these challenges by going beyond basic perks and invest in what really matters, which he describes as 'meaningful work, sense of accomplishment, career growth and trust in the organization's leadership and strategy.' Ed Huang, career expert at told me by email that his research team was struck with how quickly micro-retirement is gaining traction. But he says what really stands out is that 75% of workers--especially millennials and Gen Z--want employers to offer structured options like unpaid sabbaticals or extended PTO. 'With more than a third planning to fund their break through side hustles or freelance work, it's clear people aren't waiting for workplace permission—they're carving out rest and personal growth on their own terms,' he concludes. 'For employers, that's a sign: offering flexibility isn't just nice to have, it's becoming a must-have.'
Forbes
23-04-2025
- Business
- Forbes
Workplace Favoritism: One In 10 Are Quitting Over It
When the majority of employees in your workplace feel overlooked while a select few are given special treatment, it creates feelings of resentment, inequality and animosity among team members. A new study finds that workplace favoritism is widespread and affects morale and retention. Poor morale in turn automatically affects engagement, productivity and the company's bottom line. This new research shows that nine in ten employees have observed workplace favoritism, and it's pushing workers out of traditional jobs into side hustles. surveyed 1,000 American employees on the widespread impact of workplace favoritism on employee satisfaction, retention and team dynamics. Key results include: Additional Findings Include: The study reports that the largest group of employees (55%) who benefit most from workplace favoritism are those with personal ties to management. Others include well-connected employees; workers favored for gender, age or a specific demographic; shared interests or hobbies with management; high performers; and leadership or client-facing roles. The most common forms of workplace favoritism are: 1. Favorable treatment based on personal relationships (61%) 2. Favoritism in work assignments (44%) 3. Favoritism in schedule flexibility or remote work privileges (41%) 4. Unequal opportunities for promotions (40%) 5. Preferential treatment during conflict resolution or disciplinary actions (34%) 6. Allocation of resources such as budgets, tools or team support (25%) 7. Favoritism tied to performance metrics (25%) 8. Unequal access to training or professional development opportunities (19%) I spoke by email with Ed Huang, side hustle and finance expert at 'We were shocked to find that nine in 10 employees have witnessed favoritism in the workplace, and it's quite telling to see that one in five Americans have already turned to freelancing or started their own business just to escape it,' Huang says. 'It's not just about unfair promotions or who gets the best assignments. Our findings indicate that favoritism is actively pushing people out of traditional jobs--especially among Gen Z and millennials--where over 40% have considered quitting because of it.' According to Huang, this shift explains the growing popularity of side hustles. 'Workers are craving autonomy, equity and a chance to grow based on merit—not manager preference,' he point out. 'With one in 10 planning to quit this year due to favoritism, side gigs are becoming more than just extra income; they're a career safety net.' We all want to be recognized for our hard work. But workplace favoritism can eclipse the outstanding work we do. Still, there are positive ways you can get noticed at work. Studies show that you don't have to be loud and obnoxious to get noticed by your employer. Although it takes extra time and effort to gain visibility, the payoff is well worth the effort. Here are 10 ways you to make sure your hard work gets noticed without boasting when all the attention is going to a select few. Huang underscores why it's important for employers to address workplace favoritism. 'Whether it's freelancing, remote work or launching a small business, today's workforce is taking control where traditional employers fall short. If companies don't address favoritism with real accountability, they risk losing top talent to the gig economy, one hustle at a time.'
&w=3840&q=100)
Business Standard
21-04-2025
- Business
- Business Standard
In US, 2 in 5 employees are considering quitting their jobs: Here's why
Two in every five employees in the US are considering leaving their jobs due to growing favouritism in companies, according to a survey by S The study notes that one in every ten employees is actively planning to quit this year alone. The survey, conducted on 1,000 American employees, states that nine in ten workers say they have witnessed favouritism at work, with 25 per cent reporting that it happens "all the time." 'Favouritism in the workplace is a major issue affecting careers, team morale, and job satisfaction. When employees feel overlooked while others receive special treatment, it can spark feelings of resentment and inequality, creating tension within teams,' the report states. According to the survey, fear of retaliation and negative repercussions prevents employees from reporting it to HR. Favouritism at the workplace The survey states that favouritism at work can show up in many ways. The most common examples include giving some people special treatment (61 per cent), assigning work unfairly (44 per cent), and offering flexible hours or remote work to only a few (41 per cent). This creates a clear divide between the "favourites" and everyone else, leading to resentment and damaging team unity. Favouritism is seen most often in the tech, education, and healthcare industries, the survey notes. Additionally, people who work in-office are 24 per cent more likely to notice favouritism than those working remotely, suggesting that being physically present may make these issues more visible. Key takeaways from the survey Nine in ten employees have witnessed favouritism at work, and one in four say it happens all the time. Two in five employees have considered leaving their jobs due to favouritism; one in ten are actively planning to quit this year. One in five Americans have started freelancing or launched their own business to escape favouritism in traditional workplaces. Nearly three in four employees do not feel comfortable reporting favouritism to HR due to fear of retaliation. In-office workers are 24 per cent more likely to observe favouritism than remote workers (31 per cent vs 25 per cent). Changing dynamics at workplaces in India A survey by Randstad India's Workmonitor 2025 suggests that employees in Indian firms are willing to quit their jobs if flexibility is lacking. The survey also shows that 60 per cent of employees would leave if they do not have a good relationship with their manager. This year, slightly more people are actively looking for new jobs—up from 57 per cent to 59 per cent. However, what really stands out is the shift in what matters most to Indian employees. While salary remains important, factors such as flexible work, a sense of inclusion, and opportunities for learning and growth are becoming top priorities, the survey notes.
Forbes
16-04-2025
- Business
- Forbes
Why 40% Of U.S. Employees May Quit To Escape Favoritism At Work
Favoritism at work can undermine team morale. Favoritism at work isn't just an annoyance. It's driving a significant number of American employees to quit their jobs. According to a recent survey, 40% of U.S. workers have considered leaving their jobs due to perceived favoritism, with one in 10 actively planning to quit this year. This problem is particularly insidious because most affected employees suffer in silence. Nearly 75% of workers don't feel comfortable reporting favoritism to HR, fearing negative repercussions. It's also a more common occurrence than you might think. Nine out of 10 employees report witnessing favoritism in their workplace, with 25% saying it happens "all the time," according to the survey. But just how pervasive is this issue, and what forms does it take in the workplace? Let's examine how favoritism at work manifests itself and explore strategies organizations can implement to create more equitable environments. Favoritism at work takes many forms. Most commonly, employees observe special treatment (61%), unfair work assignments (44%), and inequitable access to flexible scheduling or remote work opportunities (41%). These patterns create clear divides between the 'favored' group and everyone else, fostering resentment and undermining team cohesion. In terms of industries, the technology, education, and healthcare sectors show the highest rates of favoritism. Interestingly, in-office workers are 24% more likely to observe favoritism than their remote counterparts, suggesting that physical proximity may amplify these dynamics. Before you can address favoritism at work, you need to recognize the warning signs: When you allow favoritism at work to persist, the negative impact on workplace culture is considerable: These statistics reveal how favoritism erodes trust within organizations. Without trust, employee engagement declines, innovation stalls, and top talent look elsewhere. Favoritism at work even drives entrepreneurship, with one in five Americans switching to freelancing or starting their own business specifically to escape workplace inequity. Based on employee feedback from the survey, these approaches are most likely to reduce favoritism within your organization: Establish transparent standards for advancement by documenting specific skills and qualifications needed for each role in your organization. When employees clearly understand the requirements for advancement, they typically develop greater trust in the promotion process, even when decisions don't favor them personally. Create systems that monitor favoritism through 360-degree feedback, specifically addressing fairness perceptions. Performance metrics should also be implemented to evaluate leaders on how equitably they develop team members. Organizations that incorporate equity metrics into leadership evaluations report significant improvements in perceived workplace fairness over time. Develop anonymous channels for employees to report concerns, such as surveys, third-party ethics hotlines, or digital suggestion boxes. Studies show these systems can significantly increase misconduct reporting, particularly for issues involving power dynamics like favoritism. Create transparent processes for applying to training programs and educational benefits, ensuring development opportunities are available to all qualified employees. Organizations transitioning from manager-nominated training to open application systems often report increased participation from previously underrepresented departments and improved skill diversity across the organization. Develop and enforce policies that address personal relationships in professional contexts. These should cover hiring, promotion, assignment allocation, and performance evaluation processes. Require employees to disclose any relationships that might influence workplace decisions. Implement alternative reporting structures when necessary to ensure fair treatment and prevent favoritism at work. Favoritism at work represents more than an interpersonal challenge. It's a significant business risk that threatens employee retention, engagement, and organizational performance. By implementing transparent criteria, holding leaders accountable, and building equity into your systems, you can create a workplace where success depends on contribution rather than just connection. Your employees—and your bottom line—will thank you.
