Amid a Labor Shortage, Find a Way to Nurture the Budding Entrepreneurs on Your Team

Amid the Great Resignation, workers are starting side hustles in droves–but that doesn’t mean the 9-to-5 has lost all of its appeal.

Black entrepreneurs in particular are leaving their full-time jobs to devote more time to turning their side businesses into full-fledged companies. The reasons for leaving include wanting more control of their schedules and career growth, according to a new survey conducted by YouGov, on behalf of LinkedIn. But half of those employees would be willing to stay at their day jobs if they received increased compensation, and 40 percent say they would stay if their workplace increased transparency around decisions that impacted their careers.

What else would help them stay? A day job that plays nice with their side gig.

Nearly half of Black employees say they don’t feel their full-time job supports their side business, and 35 percent of Black employees with side hustles say they’ve been overlooked for career advancement opportunities because of their side hustle. While it’s true that many founders do eventually want to go out on their own, plenty of entrepreneurs–or about 43 percent, according to the survey–would be happy if their side businesses remained that way.

That means, you need to work harder to keep that 43 percent happy. What precisely that entails will be different for every employee and every situation, but providing mentorship opportunities can be a good way in. Offering flexible or remote work arrangements that enable workers to more easily pursue their business in their off-hours might also be wise.

Altogether, these strategies can boost workers’ satisfaction and therefore improve retention. And in the end, isn’t more entrepreneurs a good thing?

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An open minded personality.. fun to be with, because of my positive vibes. God fearing, for without God I am nothing.. Moved with compassion when dealing with you, not selfish or self-centered...

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