Welcome to The Juice!

This month we're pulling back the curtain on "polyworking," Sound interesting? You might find the idea particularly interesting if you're a Millennial. But either way, the idea of working multiple jobs can be financially rewarding, intriguing and a way to diversify your skills. Read on to learn more and take our polls!

How Polyworking Millennials Can Avoid Burnout - and what other generations can learn from us.

A research team from Academized surveyed 2,500 Millennials between the ages of 26 and 41 to study the growing trend of polyworking.

Polyworking simply means: working more than one job at a time—which is what many Millennials have turned to as a way to increase their earnings and, in some cases, to manage the risk of burnout. As the world of work continues to change, increasingly, Millennials manage multiple jobs and side hustles to stay afloat or save money due to a combination of low or stagnant wages and student loan debt. The growing gig economy has only helped workers juggle remote jobs and freelance work, which many people find not only financially stabilizing, but also fulfilling because they can pursue passion projects and personal interests outside of a core full-time or part-time job.

According to the Academized survey, "52% of Millennials are working side hustles to supplement their income, with a quarter juggling three jobs and a third managing an incredible four or more income streams simultaneously." The research further found that "Millennials with side gigs earn an additional $12,689 yearly, [and in some cases, up to] $45,000 annually."

Millennial or not, you may even find yourself working multiple jobs out of economic necessity. But what can polyworking also teach us? Some Millennials argue that the benefits of polyworking actually outweigh the consequences (e.g., burnout), because you have more control over your time, and often get paid to work on passion projects.

Here are some of the more positive outcomes of polyworking:

1—Psychological Security—Having multiple income streams offers the peace of mind in that if one job becomes jeopardized, you can lean on the other(s). Polyworkers can take more calculated risks in their careers because they have supplemental income coming in apart from a core job.

2—Accelerated Career Growth—Polyworkers flex a multitude of skills based on multiple, related jobs. And skills developed in one role often carry over into other similar roles, which can also help reduce the learning curve in each job.

3—Diversified Network—With a core full-time or part-time job and added side hustles or freelance work, polyworkers cast a wider professional network. This creates additional career opportunities that may otherwise be unavailable.

4—Increased Autonomy—Workers with multiple jobs are not dependent on just one employer, which can create leverage. Polyworkers can more easily set boundaries with employers, and accept or reject projects based on their personal needs and schedules.

5 Ways to Avoid or Reduce Burnout

Some Millennials do risk burnout by taking on too many roles and responsibilities. It's important to take inventory of your time, resources, and bandwidth to help reduce job fatigue.

If you find yourself among the growing population of polyworkers, here are some strategies to help you maintain multiple jobs while keeping your well-being intact.

1—Determine the Right Work Model—Are you more comfortable working one core job and multiple side hustles? Or maybe you maintain two part-time jobs and a side gig. Deciding what works for your time, energy level and project bandwidth is the first step.

2—Create Systems and Set Boundaries—Especially when working multiple jobs, it's critical to have systems and even automations in place to help you be more efficient. Set boundaries with others so that they don't trample on your time.

3—Set Financial Goals—Determine how much you would like or need to make in a year and work backward from there. It's important to figure out what your quarterly and monthly earnings will be so that you can plan your finances accordingly.

4—Know the Warning Signs of Burnout—Burnout is real. Early signs of burnout include persistent fatigue, headaches and irritability. Burnout can quickly become problematic, affecting the quality or timeliness of your work. Make sure to give yourself grace.

5—Have a Plan—Think about setting a timeline for how long you will take on extra work. Not only that, but also have an exit plan. Define in advance what issues or circumstances might require you to reduce your overall workload.

Polyworking may just be the way of the future. Have you tried it? Would you be open to working more than one job at a time? Take our polls ^^ above and we'll share the results next time!

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