Good morning. Many CFOs now rank talent—whether hiring, retention, or skill gaps—as their companies’ top internal risk. And “polyworking,” where employees hold multiple jobs or roles at once to make ends meet, shows no signs of slowing.
TL;DR
- Polyworking, holding multiple jobs, is a persistent trend driven by essential earnings and underpayment.
- Nearly half of employees hold multiple jobs, with 51% needing extra income for basic needs.
- Employers should pay market values and consider bonuses/raises to address polyworking and burnout.
- Companies must adapt to retain workers gaining new skills and potentially new career paths.
The trend of holding multiple jobs is expected to persist through 2026, as indicated by Vicki Salemi, a career specialist at Monster, the company focused on job searching and recruitment. She references a recent polywork survey that revealed almost half of employees are engaged in more than one job at the same time, with 51% stating that the additional earnings are “absolutely essential” for meeting their fundamental monthly financial obligations.
“This is underscored by the data point that 38% of respondents said they plan to keep working multiple jobs for the long term, which ultimately points to their salary at their full-time job,” Salemi noted. “As long as workers are underpaid, the data points to polyworking continuing.”
Monster’s Cost of Living Report earlier this year found that 95% of respondents say their wages have not kept up with rising costs. “The pay deficiency triggers financial stress and the pursuit of side hustles,” Salemi said.
Anecdotally, polyworking is prevalent among junior employees, she stated. Many haven't experienced a conventional 9-to-5 schedule. “Their frame of reference is not pre-pandemic of a ‘traditional’ workplace—it’s more fluid, hybrid/remote, and flexible,” she stated. “Plus, since they’re digital natives, they may be more interested in pursuing influencer roles and content creation in addition to a full-time job and side hustle.”
More experienced professionals tend not to engage in polywork, partly due to the increased logistical challenges of managing several positions when they travel often or bear greater domestic duties, she remarked.
Higher pay is a critical part of the solution. “To address polyworking head-on and realize workers may be more lethargic, less engaged, and less productive as a result, first and foremost, employers should pay them according to market values,” Salemi said. If that’s not possible, then they should implement other compensation strategies such as quarterly bonuses or incremental raises to make them whole and bring them up to the cost of living, she added. Workers are also looking for financial independence and flexibility, so she suggests companies consider those aspects alongside base pay.
Complicating matters, U.S. Salary increase budgets are expected to hold steady at an average of 3.5% in 2026, matching actual increases in 2025, according to WTW’s July Salary Budget Planning Report based on 1,569 U.S. Organizations. About 31% of employers plan to reduce their salary budgets because of weaker financial performance and cost pressures, while the few increasing budgets cite competitive labor markets and inflation. WTW is expected to release an updated report this month with finalized 2025 actuals and a refined 2026 outlook.
Given these constraints, employers should anticipate that their staff will be engaged in multiple work arrangements and establish unambiguous expectations. Salemi recommended formalizing directives within HR procedures and initial employee training, followed by consistent reinforcement. Additionally, companies must proactively address employee exhaustion. “By working multiple jobs, workers may unfortunately reach burnout,” she states. “They may need mental health support and stress-management programs.”
Disengagement is another risk. “When workers pursue external employment, they’re not only earning more money, they’re gaining new skills, making new connections, and perhaps laying the foundation for a new career path,” Salemi says. The question for employers is whether they will adapt fast enough to keep those workers—and their growing skills—inside the organization.
SherylEstrada
[email protected]
Leaderboard
Mike Lenihan was appointed CFO of Texas Roadhouse, Inc. (NasdaqGS: TXRH), a dining establishment firm, starting December 3rd. Keith Humpich, who had been acting CFO, has been named the company's chief accounting and financial services officer. Lenihan brings almost three decades of financial expertise, with the last 22 years spent in the restaurant sector. Prior to this role, he held the position of CFO at CKE Restaurants, Inc.
Brett Stubbs was appointed CFO of Kind Lending, a wholesale mortgage provider. Stubbs possesses over 25 years of expertise in finance and operations. This appointment occurs after a deliberate succession plan with Gary Fabian, who has held the position of Chief Financial Officer since the company's inception and is scheduled to retire by year's end. Fabian will continue to assist with the handover until December 31st.
Big Deal
A mere 28% of business leaders express optimism regarding the economy's trajectory in the coming year, a decrease from the 34% recorded in the previous quarter. The prevailing worries for businesses continue to be domestic economic circumstances and the rate of inflation, which have switched their positions as the primary two concerns compared to the last quarter. Political leadership has ascended to the third position, marking its most significant ranking since the middle of 2021.
Over half (52%) anticipate an economic downturn by the close of 2026, with 17% thinking it has already begun. Notwithstanding diminished economic sentiment, business leaders express greater optimism regarding their individual firms (41% compared to 37%) and a larger proportion intend to grow (48% versus 46%).
Hiring outlooks remain mostly consistent. A majority report adequate staffing, although the proportion indicating a shortage of personnel dropped to 32%, and those believing they have an excess of staff decreased to 13%.
“Despite a slight dip in economic optimism, we’re seeing a mixed picture beneath the topline figure,” Tom Hood, EVP of Business Engagement and Growth at the Association of International Certified Professional Accountants, the alliance formed by AICPA and CIMA, said in a statement. “The good news is executives feel more confident in their own companies, reflected in modest gains in profit and revenue projections.”
Revenue growth expectations rose to 2% from 1.5% last quarter, while profit projections climbed to 0.8% from 0.1%, according to the findings.
Going deeper
"Inside Silicon Valley’s ‘soup wars’: Why Mark Zuckerberg and OpenAI are hand-delivering soup to poach talent" is a Coins2Day report by Eva Roytburg.
Roytburg notes: "In the intense competition between Meta and OpenAI for AI supremacy, the preferred tool has changed. Initially, it was unlimited compute,, followed by $100 million signing bonuses. Currently, the conflict has advanced to a peculiar, personal stage: soup conflicts.”
You can read the complete report here.
Overheard
“If you are massively dyslexic, you cannot play a playbook. There is no playbook a dyslexic can master. And therefore we learn to think freely.”
Palantir CEO Alex Karp shared his thoughts at the New York Times DealBook Summit on Wednesday. Karp disclosed that his lifelong battle with dyslexia, rather than prestigious academic credentials, political affiliations, or family background, fostered the independent, unconventional thinking that has fueled his leadership and Palantir's ascent into one of the nation's most highly valued technology firms, Coins2Day reported.
