: What is moonlighting? How can companies prevent it? #IndiaNEWS #Business Moonlighting means working a second job along with a regular nine-to-five employment. The concept has been in the industry

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What is moonlighting? How can companies prevent it? #IndiaNEWS #Business
Moonlighting means working a second job along with a regular nine-to-five employment. The concept has been in the industry for some time, but the pandemic-induced culture has increased moonlighting flexibility for employees. As a result, various food delivery applications, like Zomato, have changed policies to accommodate dual employment opportunities for employees. However, many IT players, such as IBM and Wipro, are against moonlighting because it raises multiple security concerns. It increases the risk of accidentally or intentionally revealing the company’s confidential information to another firm, causing revenue losses.
What is moonlighting?
According to the Cambridge Dictionary, “moonlighting is the act of working at an extra job, especially without telling your main employer. ” The concept emerged from the moon, which means that the employee is working at a primary job during the day and working at another job during the night.
Why do employees moonlight?
According to research by Kotak Institutional Securities, nearly 65% of respondents from the IT/ITeS industry conveyed that they are either moonlighting or know someone who is engaged in moonlighting. There are various reasons for employees to opt for moonlighting; the following are some of them:
Fulfilling financial needs
Many employees are not able to pay their bills or bear the overall expenses with the salary earned from a single job. They may have multiple responsibilities such as loans, family, and medical expenses that can be fulfilled with an extra income. This financial crunch leads them to take another job.
Taking advantage of the talent shortage
According to the ManpowerGroup Talent Shortage Survey, nearly 75% of organizations reported a talent shortage and difficulty in hiring in 2022. Along with the IT industry, many knowledge and service-based industries such as finance, design, marketing, and others are facing a talent crunch and opting for gig work platforms to find talent for various job profiles. Therefore, it has encouraged the talented workforce to take a second job.
Safeguarding against sudden layoffs
According to the Wall Street Journal, Meta, one of the tech giants and the parent company of Facebook, laid off thousands of its employees in November 2022.
The possibility of layoffs is encouraging employees to take second jobs to secure their future and cope with the financial crunch that may occur.
Pursuing passion
While working in the primary job, many employees begin working on a side hustle or a business venture they have always been passionate about. It is a safe way to pursue passion and continue a full-time job when more than venture earnings are needed to pay monthly expenses or secure the future.

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