Millennials thrive on innovation, empowerment, and hunger. The hunger to get more of their lives. Unfortunately, companies offer little to make use of the skills Millenials posses. Our fathers and grandfathers probably had one job in their lifespan or maybe two max. They always had this notion of job security and a steady paycheck. For them, life was about bringing stability to everything. But things changed with the newer generations, the millennials.

Deloitte published a report in 2016 according to which 66% of the millennials are expected to leave their current job by 2020. This percentage is higher in countries like India (76%), South Africa (76%) and UK (71%).

So, what exactly is the reason for their job shift?

It seems this new generation of society demands more than just a steady paycheck. Stability is the least of all. Not that they are afraid of commitment or terribly unfocused in their life. Millennials thrive on innovation, empowerment, and hunger. The hunger to get more of their lives. Unfortunately, companies offer little to make use of the skills Millenials posses.

The desire to fulfill their passion

In another study done by Recrutifi, it was found that 83% of the millennials were aware that job-hopping has a negative impact on their career path. But this does not stop them from changing one. Millennials are largely driven by the desire to fulfill their personal or professional passion. The generation before saw jobs as a monotonous daily routine, they preferred less demanding work and more free time. It was just a medium to sustain their life.

The current generation has a different view, for them, a job is more a place to learn and increase their creativity, skills over time. The mantra for these millennials is very simple: continue job-hopping until they find one that matches their demands.

But what if they do get that perfect job of their dreams?

For some millennials changing jobs brings little to the table. In order to make use of their creative side, they prefer to start side projects. In addition to their full-time job. Unlike the previous generation, millennials tend to have multiple skills. Creating a personal project gives them the freedom to explore all these skills. Something no job can offer them. These projects, in a nutshell, are more about bringing happiness than anything else.

Technical advancement

Another important aspect of the increase of the side hustle is modern technology. Today creating a blog, podcast or youtube is just a click away. Technology is driving this generation forward, where starting a business is much easier than it was 20 years ago. The current generation has grown with the computer industry boom. They are very well aware of the opportunities this digital world has to offer.

Another study done by Deloitte in 2018 revealed that 62% of the millennials were eager to supplement their current job with a side hustle. At the same time, 15% of the correspondents were already doing some business on the side.

For some creating a side project is about generating secondary sources of income. While for some it’s more about finding freedom and pursuing a career that is creatively independent. These side projects also give them a way to work on themselves with little risk. Not everyone is willing to leave their full-time job.

Not a bed of roses

Work-life balance or creating a secondary revenue source, creating a side hustle life is not easy. There is the constant stress of working even after 9-to-5, even on the weekends. One has to give up a leisure lifestyle and it is very difficult. But it is a decision millennials take out of their wish, in the hopes of being their own boss someday. And millennials are the generation who can definitely pull this off.

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