In a post-pandemic reality, the balance between work and life may be challenged by the desire for more experiences, earnings, and accomplishments, potentially fueling a hustle culture. Moonlighting, receiving significant attention in discussions and media, holds potential implications for industries, economies, and business talent pools.
What is Moonlighting?
Moonlighting, the practice of holding an additional job alongside a full-time role, has raised concerns regarding intellectual property (IP) rights, ethics, productivity, and employees' freedom of choice. New-age talent may utilize moonlighting as a transitional strategy, testing their suitability for the gig economy while maintaining a secure job.
Moonlighting should be examined collaboratively, considering factors like employees' life stage, current work complexity, ability to manage multiple workstreams, personality types, and mindset.
For instance, an ambitious employee with average skills may aspire to achieve more but may feel constrained by their limited capabilities to grow within the organization. Moonlighting could offer them opportunities to pursue external roles. On the other hand, a content employee who is both intelligent and skilled may prioritize work-life balance and be less inclined to take on additional employment.
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Moonlighting Ethics and Equity
As moonlighting becomes more prevalent, its nuances and complexities come to light. Debates surrounding it have intensified, with arguments both for and against. While unethical behaviors such as data security breaches or working for direct competitors are clear-cut concerns, the potential benefits of moonlighting, such as skill diversification, finding purpose, creating additional income streams, and expanding professional networks, warrant further exploration.
Another aspect of this ongoing debate is the contrast between the commonplace acceptance of CEOs managing multiple companies and the scrutiny faced by average employees who moonlight. Figures like Elon Musk, Jeff Bezos, and Jack Dorsey exemplify this disparity. Many Fortune 500 CEOs hold positions on other company boards, invest in startups, and engage in external ventures. Over the past year, CEO pay has surged by 11%, amplifying the pay gap, which is now 399 times greater than typical employees. Much of this compensation is tied to stock awards.
Elon Musk's compensation plan, primarily consisting of stock-based benefits from Tesla, amounts to a remarkable $56 billion, ranking among the largest ever seen. This compensation structure links the CEO's pay to the company's performance. However, salary bands for technology professionals are typically determined by job titles and experience levels rather than individual skills or performance outcomes. Consequently, even exceptionally talented and productive individuals, such as engineers who outperform the average software developer by ten times, may still find their wealth potential restricted by these predetermined salary bands.
Is Moonlighting The Future of The Modern Workforce?
Taking on additional commitments during downtime may seem daunting for a generation already burdened mentally, but Tamboli emphasizes that burnout is situational. For someone feeling unmotivated or underemployed, moonlighting offers a path to transition between jobs, start a business, supplement income, or gain insight into another industry, she explains. However, moonlighting could exacerbate burnout if long hours and multitasking are not your strengths. Tamboli suggests moonlighting after primary work hours, allowing time to shift focus to entrepreneurial pursuits and maintain productivity without risking exhaustion. She warns that juggling multiple responsibilities at the expense of leisure or social connections may lead to burnout.
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