The moonlighting phenomenon: exploring the motives, effects & potential remedies

Abstract

The Indian job market is growing at a rapid pace, with the increased technology enabled flexibility of the market, there has been a downturn in employee-company loyalty, faster job switches and higher unemployment risks. Due to these trends, employees are now required to follow alternative strategies to maintain job security & stable income stream. The lightning-fast pace of technological advancements and the ongoing need to improve one's skill set, job mobility has become increasingly crucial in today's competitive labor markets. The above volatility of the market encourages employees to adopt the strategy of holding multiple jobs or moonlighting that helps in hedging of risks. These multiple job helps in upskilling, enables extra side income & also provides career advancement opportunities due to skill sets gained across various industries & job roles. With the increased flexibility of the Indian market, moonlighting is a trend that is on the rise over the past few years. The impact of COVID-19 has also increased its adoption with more job roles becoming remote. The practice of moonlighting to the practice of having a second job in addition to a primary job. Side jobs are growing more and more common in India. With salaries stagnating across all job levels and limited increments, income hasn't kept pace with the cost of living, making it tough for people to make ends meet. This act of taking side jobs increases the disposable income of the family. For a deeper understanding of compensation and career advancement, as well as for the purposes of developing future legal policies, it is critical to examine the relationship between employeeemployer experience, moonlighting, and job mobility. Additionally, moonlighting can also have potential negative consequences, including conflicts of interest, exhaustion, and burnout, and legal or ethical violations. Innovative HRM practices are being practiced across the globe to motivate the employees & increase their work efficiency. Every company is competing for the best talent, so employee retention becomes a key focus for these companies. The work culture is becoming increasingly tech-focussed and those who refuse to change will face defeat. It is thus necessary for organisations to practice best human resource practices that keeps employee engaged.