70% of Employees Considering ‘Extra Work’ as Pay Continues to Lag Behind Inflation

With cost-of-living pressures at record highs, Australian workers are increasingly turning to second jobs and side hustles to stay afloat—posing a wake-up call for SMEs to rethink how they attract and retain talent.

New research from global talent firm Robert Walters reveals that 70% of Australians are open to taking on additional work, while over one million Australians are now working multiple jobs, according to the ABS—the highest on record. Younger workers are particularly affected, with 9% of 20- to 24-year-olds juggling more than one job.

Shay Peters, CEO of Robert Walters Australia & New Zealand, says the era of prioritising work-life balance has shifted.

“While work-life balance was once a priority, today it’s clear that salary has retaken centre stage. People simply can’t afford to stay in roles that don’t pay enough to keep up with their lives,” he says.

The data is stark: Australian wage growth is failing to match inflation, with a 3.2% wage increase lagging behind a 2.4% rise in the Consumer Price Index. For workers on an $80,000 salary, that’s a net loss of around $3,000 in real terms, thanks to rising costs across groceries, rent, fuel, and other essentials.

For SMEs, the implications are clear. Workers are seeking ways to bridge the gap—whether by moonlighting in second jobs, moving interstate, or switching employers altogether. The Robert Walters survey found that 54% of Australians are considering relocating for better pay or lower living costs.

“Employers need to act now, not wait for government intervention, to retain their workforce,” Peters warns.

“This is a warning bell for businesses. If salaries don’t reflect the realities of today’s economy, companies will lose skilled talent—either to better-paying roles, second jobs, or to other states.”

Practical tips for SMEs:

• Review pay structures regularly to ensure they keep pace with inflation.

• Consider flexible side hustle policies—acknowledging that some staff may need additional income streams.

• Offer non-financial benefits, like training, mentorship, or wellbeing programs, to help ease financial stress and boost engagement.

• Communicate openly with staff about financial challenges and potential support options.

For many Australians, financial survival is driving career choices—and SMEs who fail to adapt risk being left behind.

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