Poly-employment: A new era of workforce flexibility or a risk to employee loyalty?

In the wake of the ongoing cost-of-living crisis, many shift workers across Australia are turning to a new workplace trend known as poly-employment. This phenomenon, characterised by individuals holding multiple part-time jobs, is helping many workers stay afloat financially during these challenging economic times.

According to research from shift-tracking company Deputy, approximately 22% of shift workers in Australia are juggling at least two part-time jobs. The study revealed that the majority—68%—of these workers are choosing to remain within the same industry for their additional employment. This trend highlights not only the economic pressures faced by workers but also their adaptability in finding solutions to meet their financial needs.

Emma Seymour, Chief Financial Officer of Deputy, spoke with Yahoo Finance about the positive aspects of poly-employment. "We've seen that employees have more predictability in terms of their earnings and that they have more control over managing their earning capability, supplementing their existing roles with other roles," she said. This flexibility allows workers to craft a more stable financial future despite the unpredictable economic climate.

The findings from Deputy's research show that the percentage of shift workers able to cover their expenses while saving money rose significantly, from 25% in 2023 to 35% in 2024. This increase is a promising indicator that poly-employment may be providing a vital lifeline for many workers struggling with rising costs.

Empowering workers

Poly-employment is not merely a survival strategy; it can also empower workers by providing them with greater agency over their financial situations. With the ability to choose additional roles, employees can tailor their work schedules to fit their personal needs and preferences. This newfound flexibility can lead to a better work-life balance, allowing individuals to allocate time for family, education, or personal interests.

Moreover, poly-employment enables workers to diversify their skill sets. By taking on roles in different areas within the same industry, employees can gain valuable experience and broaden their expertise. This can make them more attractive candidates for future job opportunities, enhancing their career prospects in a competitive job market.

Benefits for employers

While some managers might express concerns that their employees will seek greener pastures due to poly-employment, research indicates that this trend can actually benefit employers as well. A flexible work environment can foster loyalty among employees, as they feel more empowered to manage their careers.

In a labour market characterised by high turnover rates, organisations that support poly-employment may experience improved worker retention. Employees who feel valued and in control of their earning potential are less likely to leave for other opportunities. Additionally, companies can benefit from a more engaged workforce, as employees who pursue multiple roles may bring fresh perspectives and insights back to their primary job.

Seymour emphasises this point: "When employees feel empowered to pursue additional roles, they are often happier and more productive in their main jobs." This engagement can translate to increased innovation and productivity within the organisation, benefiting both the employer and the employee.

The changing nature of work

The rise of poly-employment is indicative of broader changes in the nature of work. Traditional notions of a single job as a lifelong career are increasingly becoming obsolete. Workers are now seeking flexible arrangements that allow them to pursue their interests and adapt to changing economic conditions.

The gig economy, which has been growing in recent years, has contributed to the normalisation of poly-employment. Many workers now view freelancing, contract work, and part-time positions as viable options alongside their primary jobs. This shift is reshaping the workplace landscape, with more individuals prioritising flexibility and personal fulfilment over the traditional 9-to-5 model.

Challenges of poly-employment

Despite its many advantages, poly-employment is not without its challenges. Managing multiple jobs can lead to increased stress and fatigue, especially for shift workers who may already be dealing with demanding schedules. It requires careful planning and time management to ensure that work commitments do not encroach upon personal time or lead to burnout.

Additionally, poly-employed workers may face complications related to taxes, benefits, and job security. Navigating multiple employment contracts can be complex, and workers must stay informed about their rights and responsibilities across different roles. As the trend continues to grow, there is a pressing need for clearer guidelines and support systems to help poly-employed individuals manage these complexities.

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The future of poly-employment

As the cost-of-living crisis persists, poly-employment is likely to remain a prominent trend among shift workers in Australia. It represents a shift in how individuals approach their careers, prioritising flexibility and financial stability in an uncertain economic environment.

Employers who recognise and support this trend may not only enhance worker retention but also foster a more innovative and engaged workforce. With the right balance, poly-employment can empower individuals and contribute to a more resilient economy, offering new opportunities for both workers and businesses alike.

Poly-employment is reshaping the workplace dynamic in Australia, providing workers with a practical solution to navigate financial challenges while offering employers a chance to cultivate a loyal and motivated workforce. As the landscape of work continues to evolve, embracing this trend may be key to success in the coming years.