A side hustle is an income stream by doing something extra other than your regular job. It helps lower the financial burden and is an extra income apart from the regular income.
A few years ago side hustling was seen as taboo and employers have a view that it will create disturbance in the main work if they pursue any side work. But now the perspective is changing and employers are supporting their employees in their side hustles which results in better employee retention as well.
Having a side hustle helps employees learn new skills, and enrich existing skills which also helps in their regular job to make it easy and interesting.It also boosts employee morale and makes them more loyal.
In this blog, we will take you through the perspective of co-founder Lakshmi Thampi, who started with a side hustling at our company and we will discuss many more interesting questions here.
So, let us take a deep dive:
Why did you Start with Side Hustling in your Company or Team?
This helps me and my team to be multi-dimensional. In a normal work environment, we could be exploring one or two aspects of ours.
By foraying into doing another activity, our mind and body are focussed on newer aspects of ourselves and develop a passion. This passion could be related to the work at Hylo or not.
How Does it Help Your Employees?
It opens up possibilities that we otherwise could be ignoring. We are just creating a forum for that. It helps employees become more financially stable, makes them happy, and reduces burnout amongst employees.
How Does Your Employee’s Side Hustling Contribute to Your Business Growth?
Any contribution to a person is always an addition to business. So, if employees learn a new skill then he/she can apply the same skill to their work, which boost their productivity at the work. It also reduces the training cost of employees.
How do You Ensure that it Doesn’t Affect Workplace Productivity?
We like to consider that time as an investment in ourselves. We all need time for investing in ourselves and this is ours. Also, a happy employee can be more productive than a burnout employee, so it helps us get our work done efficiently and effectively.
Through this, we gain our employees’ trust and loyalty and experience a very low labor turnover in our organization.
How do You Support Your Employees to Excel with their Side Hustling?
We’ve given them room to discuss their side hustles openly. Also, We set goals, review them and encourage them by letting them talk about them and present the work. We encourage them to take skill development courses, which help them contribute to their side hustling.
We are Happy to Share our Team’s Feedback on the Side Hustling.
“My side hustling is photography which is also my interest area and I’m working on this to hone my skills. Every day I try to capture something new and learn something new related to photography.
As per the famous book Show your Work – by Austin Kleon, Share Something small every day, I strongly believe in this and work towards my goal and slowly towards my bigger vision related to this hustle.
It helps me stay motivated, and satisfied and helps me to stay creative at my workplace.” – says Lakshmi Thampi, co-founder and digital marketing officer at Hylobiz.
“Web designing and development has been my first love and I’m lucky to build my side hustle upon my interest areas. Even I got lucky to work on branding for startups in India, Australia, and Singapore.
I started my early career as a guest lecturer in college and to date,I love to share my experience with students whenever I get an opportunity. My other interest area is baking which I’m exploring more and learning new things.
My takeaway from the side hustling is to improve myself each day with small steps.” – Smitha Shenoy, Creative lead at Hylobiz.
“My core interest is in designing, art, and craft. I feel it’s a beautiful way to express your feelings through designs and crafts.
I observe things very closely, which helps me improvise my skills and enhances my creativity. And also working for creative designs at Hylobiz gives me inner satisfaction.
Recently, my daughter got into NIFT and this adds a wing to my design as in future we both mother and daughter duo can do something in future related to designing.” – says Sheeba Thomas, marketing executive at Hylobiz.
“As a part of my side hustling, I help a school with their online administration work and edit written content for people. Also, when I get time, I feed my mind by reading my favorite Genre.
One major takeaway which I’ve gained from pursuing a side hustle is the key to learning Time management and I constantly keep on working to improve on it every day.” – says Nitya Pandey, Marketing Executive at Hylobiz.
Companies supporting their employees in their side hustling experience lower labor turnover, lower training costs, and gain more employee trust. It improves employee efficiency and satisfaction and creates value for all stakeholders.
We at Hylobiz encourage our employees to pursue their side hustle and extend our support to them in the best possible manner. It has helped us build trust and loyalty amongst our employees. Also, our employees are more satisfied and more efficient at the workplace.
Hylobiz is a B2B fintech platform helping businesses automate invoicing, collection, payment reminders, and more. Our solutions are suitable for all business sizes and help achieve more efficiency and reduced operational costs.
We help you automate your invoice collections and vendor payouts. You can create or send invoices through our platform with attached payment links and accept payment via many digital modes. With Hylobiz, get a real-time dashboard with access to business health and cashflow controls. Make informed decisions with business reports and avail business loans at lower rates.
Hylobiz’s all-in-one automated solution frees up your time automation and helps you generate additional revenue.
Read more on our offerings: https://hylo.biz/offerings-sme/
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Suggested reads: https://hylo.biz/business-development-skills-for-your-business/
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