Amid collapsing workplace confidence, business owners break the trend

Amid consistently low job satisfaction and employee engagement, business owners are bucking the trend with greater well being and engagement. A recent Gallup survey reveals that nearly 70% of owners consider their lives to be “thriving”, compared to just half of all other workers. This stark contrast highlights the potential benefits of entrepreneurship, particularly when it involves building and leading a team.

The survey's findings shed light on the unique challenges and rewards of being an owner-employer. While these individuals face the financial burdens of providing staff benefits and the emotional toll of supporting their employees' well-being, they also enjoy the satisfaction of creating a positive work culture and the empowerment that comes with being in control of their own ventures.

Interestingly, the survey also found that self-employed individuals without employees had the lowest scores among all groups, suggesting that the key to entrepreneurial success and well-being lies in the ability to employ others.

Against the backdrop of the owner/employee divide in engagement, so-called “side hustles” are gaining popularity. The rise of generative AI helps to streamline the process of launching a venture, allowing aspiring entrepreneurs to test their ideas more efficiently. Economic uncertainty, a loss of trust in employers and fears about the future are also leading to a post-pandemic boom in entrepreneurship.