Fancy a (double) dip? Should businesses be concerned about polyworking?

In the evolving world of remote work since Covid-19, a new phenomenon called polyworking, or double dipping, has become a hot topic among employers and managers. Polyworking refers to employees who work remotely, simultaneously working for multiple employers. While this trend raises eyebrows and concerns among managers, understanding its implications and addressing the underlying causes are crucial for businesses navigating this new environment.

Polyworking isn’t an entirely new concept, but the rise of remote work has made it more common. The trend of polyworking first emerged during the pandemic where it was seen as a way to find job security in an unpredictable market. Some also saw this as a way to double their salary to an early retirement. A survey was undertaken of over 1,000 workers to find out who is most likely to be juggling multiple jobs. They found that while 40% of workers overall currently have two jobs, this number rises to 46% of Gen Zers. 

Why Do Employees Polywork?

Several factors contribute to employees polyworking and understanding these reasons can help businesses develop effective strategies to address the issue.

• Financial Incentives: The most obvious motivating factor is financial gain. In an era where inflation and the cost of living are rising, employees may look for additional income streams to maintain their standard of living.
• Job Security: The uncertainty brought about by economic fluctuations and job market instability can lead employees to seek multiple roles to ensure financial stability.
• Career Development: Some employees engage in polyworking to diversify their skills and experiences, which can enhance their career prospects in the future.
• Flexibility: Remote work offers unprecedented flexibility, allowing employees to manage their time and commitments in ways that were previously impossible.

Should Employers Be Worried About Double Dippers?

According to the management consultancy, polyworking is a growing phenomenon. It estimates that around 5% of the workforce in a typical organisation are double-dipping. While polyworking can benefit employees, it presents several challenges for businesses:

• Productivity Concerns: Employees juggling multiple jobs may struggle to maintain high-performance levels in all their roles, leading to potential dips in productivity.
• Conflicts of Interest: Working for competitors simultaneously can create conflicts of interest and potential breaches of confidentiality.
• Resource Allocation: Companies invest significant resources in onboarding, training and retaining employees. If these employees are not fully committed, the return on this investment reduces.
• Team Dynamics: Polyworking can affect team structure and morale, especially if some team members are perceived as less engaged or contributing less than others.

Strategies to Mitigate Polyworking

Addressing polyworking requires an approach that considers both employee needs and business objectives. Here are some strategies that can help:

1. Competitive Compensation: One of the most straightforward ways to reduce the incentive for polyworking is to offer competitive salaries and benefits. Ensuring employees feel adequately compensated for their work can reduce the temptation for them to seek additional employment.
2. Career Development Opportunities: Providing clear pathways for career progression and professional development can help retain employees. Offering training programs, mentorship and opportunities for advancement can make employees feel more invested in their primary job.
3. Engagement and Culture: Building a strong company culture that values employee engagement and well-being can reduce the allure of polyworking. Regular check-ins, team-building activities and a supportive work environment can enhance job satisfaction.
4. Transparent Policies: Establishing clear policies regarding secondary employment and conflicts of interest can set expectations and provide a framework for addressing any issues that arise.
5. Flexible Work Arrangements: Offering flexible work arrangements can help employees balance their professional and personal lives without needing to seek additional employment. This could include flexible hours, remote working options and shorter work weeks.

Embracing Polyworking

Polyworking is a complex issue that reflects broader changes in the work environment and employee expectations. While it presents challenges, it also offers an opportunity for businesses to reassess their approaches to employee engagement, compensation and work culture.

By addressing the root causes of polyworking and developing strategies to mitigate its impact, businesses can create a more committed and productive workforce. In the era of remote work, adapting to new trends and understanding employee motivations are key to maintaining a happy workforce.

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