Moonlighting in Corporate is going to be a fact of life
Moonlighting in Corporate – IT industry veteran Mohandas Pai argued against the growing argument about working side jobs while employed full-time with an organization by saying that moonlighting is a fact of life because the technology industry has become global and the work itself can be divided into smaller tasks and performed. This argument has divided the IT industry.
“Numerous platforms for gig workers have emerged. Tech work has been divided into manageable chunks that employees can develop and deliver in two to three hours. The gig economy is made possible by technology. People would thus moonlight, according to the former Infosys director and chairman of Aarin Capital, who spoke to Business Today.
They cannot ban me from working on a Saturday if I want to make some money. The key thing right now is technology, which makes it possible for people to work remotely and earn significantly more money for shorter tasks. That’s why something was developed in the technology sector.
Rishad Premji, chairman of IT giant Wipro, revealed on Wednesday that his company had fired 300 employees after discovering they were working two jobs at rival companies. Pai’s remarks follow Premji’s revelation.
“The truth is that there are people working for Wipro today who are also working directly for one of our competitors, and we have actually found 300 people doing so in the last few months,” he remarked at a gathering.
Moonlighting in Corporate
When he tweeted about the practice being “cheating – plain & simple” around a month earlier, he had started the moonlighting discussion. Experts in the IT sector agree that despite the fact that the practice definitely peaked during the pandemic-induced “Work From Home” period, it is difficult to assess the scale of it.
While employees may see it as a means to earn some extra money or gain new skills, experts point out that it is mostly a grey area because opinions on what counts as moonlighting vary. Some people may consider any income-generating activity that diverts attention from the primary duty to be moonlighting, while others may only consider working for a direct rival to be moonlighting.
The “Great Resignation” and “Quiet Quitting” have become common phrases in the workplace during the time of this. With about 4.5 million software employees, IT companies are the largest employers of white-collar workers in the nation. They are also struggling with record-high attrition rates of 20% or more.
To attract new talent, Wipro itself, for instance, declared it would promote freshers on a quarterly basis, provide them with clear five-year career tracks, and train them as full-stack engineers before they joined.
Following the release of the findings in April, Wipro CEO Thierry Delaporte had stated that the business has chosen to raise the frequency of promotion cycles for 70% of employees in junior bands to a quarterly basis.
The 12-month attrition rate for Bengaluru-based Wipro decreased from 23.8% at the end of March 2022 to 23.38% as of June 30 2022. As of June 30, 2022, the company’s attrition rate was greater than TCS’ 19.7% but lower than peer Infosys’ 28.4%. The company had stated that it intended to double the number of freshmen it hired in 2022–23, exactly as it had done the year before. Compared to the 19,000 hired the year before, it had expected to hire 38,000 freshmen.