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- The term “overemployed” refers to those who are working multiple jobs or are working more hours than they would prefer.
- According to a ResumeBuilder report, a staggering 79% of remote workers who were surveyed have juggled two or more remote jobs in the last year to top up their income.
- Employers should strive to offer competitive compensation and benefits to attract and retain talent, but individual circumstances will always play a role in a worker’s decision to take on multiple jobs.
Nearly 80% of remote workers are juggling multiple jobs, sparking an “overemployment” boom. Are you a part of this new trend that remote work has helped thrive?
The term “overemployed” refers to those who are working multiple jobs or are working more hours than they would prefer. Many remote and hybrid workers are currently overemployed…but by their own doing.
About half of U.S. employees have “side hustles” or extra sources of income due to the newfound flexibility of remote and post-pandemic work schedules, according to Bloomberg.
This influx of gig-taking and selling items online has amounted to more than $50 billion monthly income — a large portion of which is going untaxed. Surprisingly, even high earners with salaries of $100,000 or more per year are joining in on the side hustle trend.
This phenomenon of being overemployed isn’t just because people have found out how to work multiple remote jobs — it appears that this new trend has been largely spurred on by the exorbitant cost of living increases, forcing people to opt to take additional jobs to make ends meet.
“Being overemployed is not a career strategy, it’s a financial strategy. No one wants to work more than one job if they don’t need to,” Stacie Haller, Chief Career Advisor at ResumeBuilder said.
According to a ResumeBuilder report, a staggering 79% of remote workers who were surveyed have juggled two or more remote jobs in the last year to top up their income; 36% even hold two full-time positions and many more have multiple part-time roles.
When asked how easy or difficult it is to balance working multiple jobs, 15% of respondents said it is ‘very easy,’ 24% said it is ‘somewhat easy,’ 52% said it is ‘somewhat difficult,’ and 10% said balancing multiple jobs is ‘very difficult,’” according to the report.
It’s important to note that each remote worker’s situation is unique, and the reasons for working two jobs can vary greatly. Employers should strive to offer competitive compensation and benefits to attract and retain talent, but individual circumstances will always play a role in a worker’s decision to take on multiple jobs.
In a Q&A, ResumeBuilder Chief Career Advisor Stacie Haller explained how this new trend will impact the future of work.
Allwork.Space: Why is overemployment so prevalent at the moment?
Stacie Haller: The workplace today is ripe for workers to be able to take on additional work. More hours are available to them during the week if they are working remote or hybrid, which gives people the opportunity to earn more income during that time. Some may be trying out a new business part time until they can take it on full time, or getting new experience and developing new skills for future employment. There are many reasons in addition to just earning additional income.
Allwork.Space: Is overemployment the only sustainable way for the new generation to make a living?
Stacie Haller: The ability to take on more work should not and cannot be used to keep wages where they are. Most people would rather have one job that pays what they need to live the life they want.
Allwork.Space: How will this phenomenon impact the future of work?
Stacie Haller: The future of work is still evolving, giving workers more flexibility overall with more choices. That is the future of work, but I don’t think we are near any steady state yet; we will see within the next few years what becomes the new normal. Everyone working 40 or more hours in-house will no longer exist — there will be variable ways in which people can make a living.
Allwork.Space: Are the reports about job numbers totally wrong because the number of open jobs compared to available candidates are off because one candidate is actually taking two jobs?
Stacie Haller: I believe the numbers are more right than wrong. I don’t believe they count part time jobs, and most people working multiple jobs are not working 80 hours; most of the second jobs are more part time. After the numbers today, we know it is still a very strong candidate market regardless of the high-profile layoffs — mostly in tech.
