The job market is constantly evolving, and it's challenging to discern reality from many different angles presented. For example, though a recent September job market report showed strong job growth, Aura data also pointed to recent trends in entry-level positions that are particularly surprising and potentially concerning.
Despite a robust market for college-educated workers, recent graduates, in particular, face unprecedented challenges in their career paths. The Wall Street Journal describes this situation as a ‘white-collar hiring rut,’ highlighting the hurdles new job seekers are up against. Aura data showed that from Q1 2021 to Q2 2024, there was an 11.2% decrease in overall job postings for entry-level positions in the US. This decline has been especially severe between 2022 and 2023, with a staggering 38% drop in entry-level job postings.
Aura workforce data also showed a mostly flat hiring demand environment for October, 2024 (based on September job posting data). But this comes after a month of quite severe declines, with a 10% drop in jobs posted in August, almost across the board in the USA.
So in an era of economic pressures and shifting work culture, the concept of working more than one job is getting a fresh rebrand. Enter ‘poly-employment’—a term that captures a growing phenomenon where individuals juggle multiple job roles, often to make ends meet, diversify income streams, or simply take control of their careers. This reimagined version of holding down multiple jobs to achieve financial security and flexibility is set to be one of the defining employment trends of 2024.
What is Poly-Employment?
Poly-employment isn’t just a new buzzword. It’s a response to the changing dynamics of work and reflects a true and emerging economic reality, much like other recent new phrases that point to actual job market situations, such as 'layoff influencers,' ‘quiet quitting,’ or ‘acting your wage.’ Simply put, poly-employment refers to having two or more jobs simultaneously. It’s not a new phenomenon—people have always worked multiple jobs—but its resurgence in the current economic landscape makes it particularly noteworthy.
Recent research by the workforce management platform Deputy reveals just how common poly-employment has become. Their latest report, The Big Shift, analyzed over 120,000 shift workers and found that the number of workers holding multiple jobs has more than doubled from 2021 to 2023.
The report also highlights the significant increase in poly-employed shift workers, particularly among young women in industries like hospitality, healthcare, and retail, indicating a move away from traditional, single-career paths towards more flexible and diverse work arrangements. This trend spans industries but is especially prominent in hospitality, healthcare, and retail. Over 60% of poly-employed workers are women, and most are younger—many belong to Generation Z.
The BLS reports on those with multiple jobs and categorizes them according to their full and part-time status. Advisor Perspectives closely analyzed this workforce data and found a significant trend. Multiple jobholders have accounted for 5.0% or more of total employed persons for 11 straight months; the moving average for those with multiple jobs has reached 5.19% of the total workforce, which is the highest level since December of 2009. So poly-employment is a trend with muti-decade variance and significance.
Economic Realities Driving Working Multiple Jobs
The rise of poly-employment can perhaps be traced to the escalating cost of living. It appears to be correlated to periods of inflation. In the United States alone, over 8.2 million people were reported to be working multiple jobs by the end of 2023, according to the Bureau of Labor Statistics.
Whether it's rising rent prices, stagnant wages, or the unpredictability of single-income employment, many workers have found themselves looking for ways to supplement their primary income.
Dr. Shashi Karunanethy, consulting economist for Deputy, notes that financial instability is a key driver for most poly-workers. He points out that those in vulnerable groups—especially younger women and workers with family responsibilities—are turning to multiple jobs to meet basic financial needs.
For older generations, the motivations can differ. In the UK, research shows that poly-employment is particularly common among those over 60, many of whom take on additional roles to deal with inadequate retirement savings or keep up with inflation. Flexible job arrangements, such as shift work, allow older workers to balance other commitments—including caregiving—while maintaining some financial stability.
Flexibility, Freedom, and Financial Security as a Hedge Against Layoffs
But it's not all about necessity—there are other reasons workers are increasingly embracing poly-employment. One of these reasons is flexibility. Holding multiple part-time or contract roles can allow people to build a schedule that suits them, particularly those balancing family or other personal responsibilities. Additionally, poly-employment can serve as a form of career insurance, a hedge against economic uncertainty and the risk of layoffs that have continued to ripple across industries since the pandemic.
Remote work availability also allows for multiple jobs, a trend which, despite recent return-to-work mandates, has been increasing throughout the year according to Aura workforce data. Remote jobs now account for over 6% of all jobs posted according to Aura, a trend which would lend itself well to "poly-employment." Because of this, we may see more multi-job employment held by traditional "white-collar" workers, based on the higher prevalence of virtual positions.
Poly-Employment vs. Freelancing: What's the Difference?
You might wonder how poly-employment differs from freelancing or being an independent contractor. Freelancing typically involves short-term projects, including gig work, and a high level of autonomy. It is also a significant portion of the economy, but with a lack of quantitative research and government reporting. We will receive better data about freelance trends when the government begins reporting data from its new gig economy survey.
However, poly-employment is distinct, with it often implying holding multiple, more stable job roles. This could mean combining a part-time barista job with a weekend gig in retail or working in healthcare during the week while driving for a ride-sharing app on the weekends.
There's also a notable cultural shift happening. In the past, workers often kept their side jobs secret, afraid of judgment or backlash from their primary employers. Now, having multiple roles—whether it's a part-time consulting gig or a creative side hustle—is increasingly celebrated, even touted as a sign of versatility and drive.
What Does This Mean for the Future of Work?
The rise of poly-employment reflects deeper trends in the labor market, such as the decline of traditional, lifelong careers and the shift towards a more flexible, gig-based economy. As the stigma around holding multiple jobs continues to decrease, employers may need to reconsider how they retain talent in an era where loyalty is no longer a given. Providing greater flexibility, offering competitive wages, and fostering a work environment that values employee well-being may all play crucial roles in adapting to this evolving workforce.
Ultimately, poly-employment can be seen as an expression of adaptability. It represents a workforce unwilling to be limited by the constraints of a single job, seeking instead to diversify their income and experiences. However, while the term 'poly-employment' may make it sound trendy or empowering, it's important to remember that this trend could also be mainly a response to economic hardship rather than a preference. Rising costs of living and high levels of inflation are no doubt causal factors.
The Challenges and Opportunities for Shift Workers in Poly-Employment
Poly-employment comes with its own set of challenges. Balancing multiple job roles can lead to physical and mental fatigue, affecting a worker's health and well-being, and even psychological distress. For those with a physical or mental disability, holding multiple jobs may be particularly difficult, especially when essential functions of their roles require high energy and focus. Employers can provide invaluable support by offering resources that help poly-employed workers manage their responsibilities more effectively, such as mental health and well-being support services.
Economic pressures have forced many workers into poly-employment, but there are also benefits. Workers gain financial security, diversify their skills, and reduce reliance on a single employer. Workers with multiple jobs often gain a more comprehensive range of experiences, making them potentially more attractive to future employers.
Employers committed to providing equal employment opportunities should consider how they can better support poly-employed workers. This includes adhering to local laws regarding employment practices and ensuring that workers are not discriminated against based on marital status, sexual orientation, medical condition, or national origin. Employers can create a more inclusive and supportive environment by offering flexibility and understanding the unique needs of poly-employed workers.
As the rise of poly-employment continues, it's important for both workers and employers to recognize the difference between being forced into multiple jobs due to financial necessity and choosing multi-job employment to develop skills and pursue varied interests. The future of work will likely involve a combination of both, with technology playing a key role in enabling workers to manage multiple positions more effectively.
Poly-employment reflects the changing nature of work and the resilience of workers facing economic challenges. Whether in healthcare, retail, or education, poly-employed workers are shaping the future of the workforce, demonstrating that adaptability and determination are essential traits in today's job market.
If you want to stay ahead of these evolving workforce dynamics, Aura Intelligence can provide you with real-time insights and analytics to help you navigate the shifting landscape. By leveraging our AI-powered platform, you can make informed, data-driven decisions to build a resilient, adaptable workforce strategy. Learn more about how Aura can empower your workforce planning and help you stay competitive in this era of change.
