Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>IT sector has been at loggerheads with employees for years now</li><li><keyword id="64527" type="General" weightage="100" keywordseo="Moonlighting" source="Orion">Moonlighting</keyword> is a sign of a deeper malaise not the cause</li><li>White collar workers in tech are demanding better working conditions and HR policies from employers Bangalore to Silicon Valley</li></ul> Moonlighting has become a hot topic ever since Wipro’s Executive Chairman Rishad Premji called it “plain and simple cheating”. Many industry captains have jumped onto the bandwagon to share their views liberally on the subject matter and most of them are against it, barring CP Gurnani of Tech Mahindra. In a tweet he wrote, “My thoughts on the trending 'M word'... It's necessary to keep changing with the times, and as always, I welcome disruption in the ways we work”. <div type="twitter" handle="C_P_Gurnani" handlename="CP Gurnani" image="http://pbs.twimg.com/profile_images/1555109168540839937/zECHTjEe_normal.jpg" favoritecount="36" retweetcount="6" status="My thoughts on the trending 'M word'... It's necessary to keep changing with the times, and as always, I welcome di… https://t.co/WLCnZL3ELO" createdat="1661664718000" id="1563761285128663040"></div> For those who have joined this conversation late, moonlighting is nothing but taking on assignments outside of one’s regular day jobs, and may I add, full-time jobs. There are many who will support his view as it is a breach of contract, but the IT industry is fraught with human resource problems that it cannot wish away. <cmsannotation type="cmsannotation" annotationid="Moonlighting trends" comment="subhead" text="Moonlighting trends">Moonlighting trends</cmsannotation> Moonlighting may have become a conversation point in India now, but it has been a trend that’s been on the uptick in the United States since 1996. According to US Census Bureau’s Longitudinal Employer-Household Dynamics, multiple jobholding rate has increased to 7.2% in 2018 from 6.8% in 1996. More women in the US hold multiple jobs than men. In the US, employers tend to put in place policies for employees that require disclosures from them to avoid conflict of interest and use of office resources for other jobs. It is time, employers in India recognise the writing on the wall instead of using strong-arm tactics that will further alienate employees. Moonlighting has been around for the longest time and professionals from creative industries have toyed with the idea, but it has become mainstream only after the pandemic. <div type="image" title="Moonlighting has become mainstream only after the pandemic" msid="94260234" hostid="261" caption="&amp;lt;p&amp;gt;Moonlighting has become mainstream only after the pandemic&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="Why is the workforce disengaged?" comment="subhead" text="Why is the workforce disengaged?">Why is the workforce disengaged?</cmsannotation> Before vilifying their employees, threatening them or by throwing the employee code at them, industry captains need to smell the coffee and ask themselves if they are in any way responsible for the disengagement that most of the IT workforce feels. Work from home may have enabled more people to explore moonlighting compared but the real cause is not that. At the start of the pandemic, WFH seemed like a very good idea to the bosses of IT companies as it led to enormous savings for them from the September quarter of FY2021. As costs declined, margins jumped and stocks rallied. Not surprisingly, the companies were willing to make this a permanent feature and were looking to repurpose their large tech parks and real estate. Two years down the line, they are taking to Twitter and calling their employees unethical and in doing so have put the spotlight on their “people problem” yet again. The pandemic has only accentuated the problem of disgruntled employees and their cry for better wages. While many of my friends who head human resource functions tell me that moonlighting is a breach of contract, people practices of India’s large IT companies can surely improve from where they are right now. <cmsannotation type="cmsannotation" annotationid="Time on Floor" comment="subhead" text="Time on Floor">Time on Floor</cmsannotation> Scratch beneath the surface or better still visit Glassdoor or Quora and search for “Time on Floor” and you will find horrifying stories of how India’s IT companies are run. One employee from a leading IT services company in Bangalore told me that he had to clock a number of hours on his seat while he was on a project, which had to add up to eight hours or more and to achieve his target he curtailed his toilet breaks and even time eating his lunch. In 2017, one tech services major sacked women who had returned from maternity leave and another one in Kolkata stopped providing women employees transport to and from the campus. The “chatter around moonlighting” has only come as the latest pain point for an industry that has found it hard to manage its people or keep them happy, which is perhaps why they rely so heavily on freshers. Moonlighting is a problem that may have surfaced after the pandemic started in 2020 and work-from-home gave people the latitude to explore other avenues of income since they were not sitting in office and saving on time. There is a deeper malaise that tech companies in India need to address upfront as the Big Techs are doing in Silicon Valley. <cmsannotation type="cmsannotation" annotationid="Problem of disgruntled employees is not new" comment="subhead" text="Problem of disgruntled employees is not new">Problem of disgruntled employees is not new</cmsannotation> From times immemorial, the IT industry in India has been battling high attrition levels and margin pressure due to wage hikes. Given the sheer number of employees that each of these companies have, it is hard to create a sense of ownership, loyalty and engagement. Nearly two decades ago, at a town hall of a large IT company, the much respected founder was asked why the variable pay was not paid out despite the very high growth trajectory of the company – those days some IT companies were growing by 100% year-on-year. The venerated founder told him that the company had its own internal goals, which were not met, therefore, the variable pay was not given. Wages at IT services companies are a lever to manage margins and to keep costs under check, thousands of freshers are hired each year. Any industry that treats employees like labour and not capital are bound to see low engagement and commitment levels. <div type="image" title="Tech CEO salaries zoomed in a decade while fresher salaries remained stable" msid="94260292" hostid="261" caption="&amp;lt;p&amp;gt;Tech CEO salaries zoomed in a decade while fresher salaries remained stable&amp;lt;/p&amp;gt;"></div> One only needs to compare the wage growth of senior management with that of freshers to see the disparity. Between 2012 and 2022 the salary of the CEO of Infosys grew from ₹80 lakh to ₹79.75 crore, while that of freshers rose from ₹2.75 lakh to ₹3.6 lakh. The story is no different for the other big IT services players (see table). Town Halls, Quora and Glassdoor are a testimony of this trend. <cmsannotation type="cmsannotation" annotationid="Are employee unions the answer?" comment="subhead" text="Are employee unions the answer?">Are employee unions the answer?</cmsannotation> In a bid to improve the working conditions of the IT and ITES sectors and make these companies adopt better human resource policies, employees came together to form a union in November 2017. The labour department in Karnataka certified the formation of the Karnataka State IT/ITES Employees Union (KITU) under the Trade Union Act 1926 and Karnataka Trade Unions Regulations 1958. The first such trade union was born in the midst of large scale retrenchment by the industry in 2017. The trade unions never took off as few employees were willing to join the union. But it does not take away the problem people have with their employers. One would wonder why would white collar workers want to come together and fight for their rights considering they are already privileged and enjoy “higher salaries” and free lunches? There is a reason as tech workers across the globe are pushing back practices of their employers be it on their business practices or treatment of outspoken employees. Tech workers across Silicon Valley too are looking at organising themselves to push their employers to adopt policies that are more inclusive. An <a href="https://www.washingtonpost.com/technology/2021/01/26/tech-unions-explainer/">article by The Washington Post</a> in April 2021 says, “Union advocates say discrimination faced by women and people of colour at the tech companies proves the need for stronger worker protections. Unions can also be a way for workers to have their voices heard about the issues they have with decisions executives are making, such as — which politicians to give money to or whether to sell software to the military and police.” Unlike the industrial age, the white collar unions are today seeking answers to bigger questions on equity, treatment of employees and broader company policies. SEE ALSO <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/adani-group-enters-into-a-no-poaching-pact-with-mukesh-ambani-led-reliance-industries/articleshow/94353862.cms">Adani Group enters into a no-poaching pact with Mukesh Ambani led Reliance Industries</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/sundar-pichai-lost-a-fifth-of-his-wealth-last-year-check-the-net-worth-of-other-indian-origin-ceos/articleshow/94353534.cms">Sundar Pichai lost a fifth of his wealth last year – check the net worth of other Indian-origin CEOs</a>

SIMPLY PUT: Moonlighting is wrong... but is it really?

<keyword id="64527" type="General" weightage="20" keywordseo="Moonlighting" source="Orion">Moonlighting</keyword> has become a hot topic ever since Wipro’s Executive Chairman Rishad Premji called it “plain and simple cheating”. Many industry captains have jumped onto the bandwagon to share their views liberally on the subject matter and most of them are against it, barring CP Gurnani of Tech Mahindra. In a tweet he wrote, “My thoughts on the trending 'M word'... It's necessary to keep changing with the times, and as always, I welcome disruption in the ways we work”. <div type="twitter" handle="C_P_Gurnani" handlename="CP Gurnani" image="http://pbs.twimg.com/profile_images/1555109168540839937/zECHTjEe_normal.jpg" favoritecount="34" retweetcount="5" status="My thoughts on the trending 'M word'... It's necessary to keep changing with the times, and as always, I welcome di… https://t.co/WLCnZL3ELO" createdat="1661664718000" id="1563761285128663040"></div> For those who have joined this conversation late, moonlighting is nothing but taking on assignments outside of one’s regular day jobs, and may I add, full-time jobs. There are many who will support his view as it is a breach of contract, but the IT industry is fraught with human resource problems that it cannot wish away. Moonlighting trends Moonlighting may have become a conversation point in India now, but it has been a trend that’s been on the uptick in the United States since 1996. According to US Census Bureau’s Longitudinal Employer-Household Dynamics, multiple jobholding rate has increased to 7.2% in 2018 from 6.8% in 1996. More women in the US hold multiple jobs than men. In the US, employers tend to put in place policies for employees that require disclosures from them to avoid conflict of interest and use of office resources for other jobs. It is time, employers in India recognise the writing on the wall instead of using strong-arm tactics that will further alienate employees. Moonlighting has been around for the longest time and professionals from creative industries have toyed with the idea, but it has become mainstream only after the pandemic. <div type="image" title="Moonlighting has become mainstream only after the pandemic" msid="94231884" hostid="261" caption="&amp;lt;p&amp;gt;Moonlighting has become mainstream only after the pandemic&amp;lt;/p&amp;gt;"></div> Why is the workforce disengaged? Before vilifying their employees, threatening them or by throwing the employee code at them, industry captains need to smell the coffee and ask themselves if they are in any way responsible for the disengagement that most of the IT workforce feels. Work from home may have enabled more people to explore moonlighting compared but the real cause is not that. At the start of the pandemic, WFH seemed like a very good idea to the bosses of IT companies as it led to enormous savings for them from the September quarter of FY2021. As costs declined, margins jumped and stocks rallied. Not surprisingly, the companies were willing to make this a permanent feature and were looking to repurpose their large tech parks and real estate. Two years down the line, they are taking to Twitter and calling their employees unethical and in doing so have put the spotlight on their “people problem” yet again. The pandemic has only accentuated the problem of disgruntled employees and their cry for better wages. While many of my friends who head human resource functions tell me that moonlighting is a breach of contract, people practices of India’s large IT companies can surely improve from where they are right now. Time on Floor Scratch beneath the surface or better still visit Glassdoor or Quora and search for “Time on Floor” and you will find horrifying stories of how India’s IT companies are run. One employee from a leading IT services company in Bangalore told me that he had to clock a number of hours on his seat while he was on a project, which had to add up to eight hours or more and to achieve his target he curtailed his toilet breaks and even time eating his lunch. In 2017, one tech services major sacked women who had returned from maternity leave and another one in Kolkata stopped providing women employees transport to and from the campus. The “chatter around moonlighting” has only come as the latest pain point for an industry that has found it hard to manage its people or keep them happy, which is perhaps why they rely so heavily on freshers. Moonlighting is a problem that may have surfaced after the pandemic started in 2020 and work-from-home gave people the latitude to explore other avenues of income since they were not sitting in office and saving on time. There is a deeper malaise that tech companies in India need to address upfront as the Big Techs are doing in Silicon Valley. Problem of disgruntled employees is not new From times immemorial, the IT industry in India has been battling high attrition levels and margin pressure due to wage hikes. Given the sheer number of employees that each of these companies have, it is hard to create a sense of ownership, loyalty and engagement. Nearly two decades ago, at a town hall of a large IT company, the much respected founder was asked why the variable pay was not paid out despite the very high growth trajectory of the company – those days some IT companies were growing by 100% year-on-year. The venerated founder told him that the company had its own internal goals, which were not met, therefore, the variable pay was not given. Wages at IT services companies are a lever to manage margins and to keep costs under check, thousands of freshers are hired each year. Any industry that treats employees like labour and not capital are bound to see low engagement and commitment levels. <div type="image" title="Tech CEO salaries zoomed in a decade while fresher salaries remained stable" msid="94231907" hostid="261" caption="&amp;lt;p&amp;gt;Tech CEO salaries zoomed in a decade while fresher salaries remained stable&amp;lt;/p&amp;gt;"></div> One only needs to compare the wage growth of senior management with that of freshers to see the disparity. Between 2012 and 2022 the salary of the CEO of Infosys grew from ₹80 lakh to ₹79.75 crore, while that of freshers rose from ₹2.75 lakh to ₹3.6 lakh. The story is no different for the other big IT services players (see table). Town Halls, Quora and Glassdoor are a testimony of this trend. Are employee unions the answer? In a bid to improve the working conditions of the IT and ITES sectors and make these companies adopt better human resource policies, employees came together to form a union in November 2017. The labour department in Karnataka certified the formation of the Karnataka State IT/ITES Employees Union (KITU) under the Trade Union Act 1926 and Karnataka Trade Unions Regulations 1958. The first such trade union was born in the midst of large scale retrenchment by the industry in 2017. The trade unions never took off as few employees were willing to join the union. But it does not take away the problem people have with their employers. One would wonder why would white collar workers want to come together and fight for their rights considering they are already privileged and enjoy “higher salaries” and free lunches? There is a reason as tech workers across the globe are pushing back practices of their employers be it on their business practices or treatment of outspoken employees. Tech workers across Silicon Valley too are looking at organising themselves to push their employers to adopt policies that are more inclusive. An <a href="https://www.washingtonpost.com/technology/2021/01/26/tech-unions-explainer/">article by The Washington Post</a> in April 2021 says, “Union advocates say discrimination faced by women and people of colour at the tech companies proves the need for stronger worker protections. Unions can also be a way for workers to have their voices heard about the issues they have with decisions executives are making, such as — which politicians to give money to or whether to sell software to the military and police.” Unlike the industrial age, the white collar unions are today seeking answers to bigger questions on equity, treatment of employees and broader company policies.

<ul><li>According to a report by job-finding platform Indeed India, about one in five employees in the IT sector are keen on <keyword id="64527" type="General" weightage="20" keywordseo="moonlighting" source="Orion">moonlighting</keyword> to make extra money. </li><li>A majority of employers in e-commerce, construction and real estate preferred to have their staff working from the office. </li><li>However, remote working is still expected to continue in the job market. </li><li>Employee wellbeing has become central to many companies, who have started revising their existing employee policies to reflect this.</li></ul>The Covid-19 pandemic has completely changed the way people work. The year 2022 was all about moonlighting, getting back to office, employee wellbeing and quiet quitting. Industry experts believe that these workplace trends will continue to persist in India in 2023 as well. <cmsannotation type="cmsannotation" annotationid="Moonlighting: The debate rages on" comment="subhead" text="Moonlighting: The debate rages on">Moonlighting: The debate rages on</cmsannotation> Moonlighting — which became one of the most-talked-about trends this year — means taking up an additional job or more alongside an existing job. Business leaders of big companies have been very vocal about the issue. IT major Wipro has been the harshest critic of this trend, firing 300 staff for moonlighting. TCS and Infosys have also been critical of the practice that has been seen as unethical. Critics of the practice say that the employee offer letters clearly prohibits dual employment, and if they are found to be in transgression, companies have the right to fire them. However, advocates of moonlighting argue that as long as the employee’s moonlighting is not aiding a competitor or affecting the employer’s work, it is not unethical. The government also got in on the debate and clarified the law with regards to moonlighting. Minister of state for labour Rameswar Teli – in a written reply to a question on moonlighting in the Lok Sabha on December 19 – said that staff can’t take up additional work that is against the interest of its employer. “As per the Industrial Employment (Standing Orders) Act, 1946, a workman shall not at any time work against the interest of the industrial establishment in which he is employed and shall not take any employment in addition to his job in the establishment, which may adversely affect the interest of his employer,” he <a href="https://economictimes.indiatimes.com/epaper/delhicapital/2022/dec/20/et-front/staff-cant-take-up-work-thats-againstcos-interests-govt/articleshow/96353586.cms?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=ETepaper_paid&amp;utm_content=front-page&amp;ncode=211413ee85287150a754ff7e50c041059418e496c5e7536be1491acba8354da29ed130a02baa6260e0cce56432d0d1741465e6345732e701f5280df01c88f8849c4466db6834e525538d035e05acd84e">said</a>. However, according to a report by job-finding platform Indeed India, about one in five employees in the IT sector are keen on moonlighting to make an extra buck. Aligned to this, companies like IT major Tech Mahindra, online food delivery platform Swiggy and employee wellness platform Nova Benefits have said that their employees are allowed to take up side hustles as long as it doesn’t affect their own work. As long as employees remain keen on additional sources of income, companies will have their hands full trying to figure out strategies to retain talent while satisfying their need for extra income and challenging projects. <cmsannotation type="cmsannotation" annotationid="Remote working to stay relevant" comment="subhead" text="Remote working to stay relevant">Remote working to stay relevant</cmsannotation> This year saw a partial reversal of a key pandemic era trend, the work-from-home (WFH) option – with many companies, including IT majors, calling their employees back to office and doing away with the WFH option. However, most companies and employees are struggling to get back to normal after getting used to the ‘new normal’ of WFH. In 2023, there will be more companies who might turn strict about workplace presence. According to data shared by Indeed India, a majority of employers in e-commerce (95%), and construction and real estate (90%) prefer to have their staff working from the office, while 37% of employers in the IT sector planned on having their employees work remotely. Employees in the IT sector have already restarted working physically from the office, at least for three days a week, with WFH being allowed only on health grounds. Chandigarh topped the list of cities where employers preferred to have people working from the office, followed by Mumbai and Bangalore, where 26% and 21% of employers, respectively, preferred hybrid/remote work, as per Indeed India. However, companies could face a lot of resistance from employees who are reluctant to get back to offices. According to <a href="https://economictimes.indiatimes.com/jobs/remote-working-new-normal-82-employees-prefer-working-from-home-study/articleshow/89201519.cms">Tech Talent Outlook</a> by job site SCIKEY, 82% of employees in the IT sector want to work from home rather than from the office. The remote working trend, which was initially forced on employees at the beginning to Covid-19 pandemic, has now become a preferred mode of working. A more recent Nasscom and Indeed India’s Gen Z and Millennials: Reshaping the Future of Workforce report said that while the future of work would continue to be hybrid, their survey found that <keyword id="11964015" type="General" weightage="80" keywordseo="gen-zs" source="Orion">Gen Zs</keyword> were more willing to go to office – 85% of Gen Zs preferred to either work completely from office or in a hybrid mode (a combination of office and remote working) Employees believe that working from home allows for more autonomy and productivity while cutting down commute time. “Increasingly, employees are showing a preference for organisations that value employees’ time, have an inclusive work environment and prioritise initiatives such as diversity and sustainability. These elements will be crucial for organisations to create a work model that best suits their sector,” said Sashi Kumar, head of sales, Indeed India. While there could be a move back to office, some degree of remote working will persist, believe experts. “Hybrid mode and remote working will continue to stay relevant in the coming years owing to the large-scale organisational benefits they offer,” said Anil Agarwal, CEO and co-founder, InCruiter, a Bangalore-based human resource consulting platform. <cmsannotation type="cmsannotation" annotationid="Can companies overcome quiet quitting?" comment="subhead" text="Can companies overcome quiet quitting?">Can companies overcome quiet quitting?</cmsannotation> Quiet quitting is another trend that emerged this year due to employee stress and burnout. It refers to an employee doing just enough work to cover the contractual obligation and nothing more, in order to spend time on personal activities. According to Indeed India's report, 33% of the employers surveyed believe that low general job satisfaction (boredom, lack of challenges, etc.) is the main reason for the growing trend of quiet quitting, while 21% believe it is a lack of commitment to jobs. Other employees believe excessive burnout, being overwhelmed with work and a lack of support from managers or bosses, has led to the rise in quiet quitting. If businesses want to attract and retain talent, they will have to pay close attention to their employees’ needs, especially that of the Gen Zs and millennials since they form a large chunk of the working population. To illustrate, Gen Zs and millennials together constituted almost 90% of the total employee base in the <a href="https://www.businessinsider.in/careers/news/as-more-freshers-are-hired-genzs-share-in-it-workforce-grows-to-18-20-nasscom-indeed/articleshow/96276835.cms">tech industry</a> in FY22. While for Gen Zs, better financial benefits, career growth and job satisfaction are what matter the most when deciding to continue working in an organisation, millennials look at job stability and flexibility to make this decision, as per the <a href="https://www.businessinsider.in/careers/news/as-more-freshers-are-hired-genzs-share-in-it-workforce-grows-to-18-20-nasscom-indeed/articleshow/96276835.cms">Nasscom-Indeed report</a>. Many companies have now started revising their existing employee policies, making them more employee-centric. They are also starting to focus more on the mental wellbeing of employees, trends that are likely to continue into the new year. For instance, e-commerce platform Meesho gave its employees 11 days of mental health leaves this year to help them reset and recharge after a hectic festive season. This is the second time that Meesho has given mental health leaves to its employees this year.The company also announced an unlimited leave policy that allows employees to avail up to 365 days of paid leaves. “They (the companies) also strive to make the current work culture more inclusive, where employees are recognised for their hard work and diligence. Most importantly, driving work-life balance has become a priority, especially after the pandemic,” Agarwal added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/tata-communications-to-acquire-us-based-switch-enterprises-for-486-crore/articleshow/96422481.cms">Tata Communications to acquire US-based Switch Enterprises for ₹486 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/planning-to-stay-indoors-for-the-christmas-weekend-here-are-top-ott-releases-you-can-stream/slidelist/96421177.cms">Planning to stay indoors for the Christmas weekend? Here are top OTT releases you can stream</a>

Work from office, moonlighting, mental well-being — Workplace trends of 2022 that are likely to persist in the new year

<ul><li>A new Indeed report reveals that 81% of the employees don’t wish to take up another job alongside the one they currently work in and cited the practice to be ‘<keyword id="933295" type="General" weightage="20" keywordseo="unethical" source="Orion">unethical</keyword>’. </li><li>However, 19% of the employees in India are interested in <keyword id="64527" type="General" weightage="20" keywordseo="moonlighting" source="Orion">moonlighting</keyword>, according to the <keyword id="14814201" type="General" weightage="80" keywordseo="indeed-hiring-tracker" source="Orion">Indeed Hiring Tracker</keyword> report. </li><li>A large percentage of employees in the healthcare and pharmaceutical sector, FMCG and manufacturing sector believe moonlighting to be violating the contract.</li></ul>Moonlighting has taken over the conversation in the job sector, with heavy debates on the moral dilemma it poses. In fact, many business leaders regard moonlighting to be ‘cheating’. And as per the Indeed Hiring Tracker report, many Indian employees also consider moonlighting to be an ‘unethical’ practice. A new Indeed report reveals that 81% of the employees don’t wish to take up another job alongside the one they currently work in and cited it to be ‘unethical’. However, 19% of the employees in India are interested in moonlighting, according to the Indeed Hiring Tracker report. The survey was conducted among 1,281 employers and 1,533 jobseekers and employees between July and September, 2022. Moonlighting is a practice in which an employee works more than one job. It means that the employee who is moonlighting concurrently works for a company in a full-time role along with part-time jobs in other companies, typically held secretly. A large percentage of employees in the healthcare and pharmaceutical sector, FMCG and manufacturing sector believes moonlighting to be violating the employment contract. While in the IT sector, around 43% of employees find moonlighting favorable. However, business leaders of the <a href="https://www.businessinsider.in/business/corporates/news/indias-it-giants-are-worried-about-moonlighting-employees-sharing-their-corporate-secrets/articleshow/95077652.cms">tech companies</a> have been very vocal and expressed their concerns about this, calling moonlighting to be ‘cheating’ and ‘illegal and unethical’. In fact, tech major <keyword id="10862" type="General" weightage="50" keywordseo="wipro" source="Orion">Wipro</keyword> fired 300 employees in the month of August this year, who were found to be moonlighting. As per the report, the top reasons why employees choose to moonlight is to safeguard against job loss (37%) and supplement their incomes (27%). Contrastingly, 23% employers believe that employees moonlight because they have ample time on hand for a second job. “What people want from work has changed forever - It is not just about just clocking in hours and going back home. The pandemic has made employees step back and reevaluate priorities. In an era where talent is valued more than ever, employers are shifting from a focus on employee experience to employee life experience - more open PTOs, flexibility at work, a movement towards hybrid work etc.,” said Sashi Kumar, head of sales, Indeed India. <cmsannotation type="cmsannotation" annotationid="Employees are stressed and burned out" comment="subhead" text="Employees are stressed and burned out">Employees are stressed and burned out</cmsannotation> Another trend which has been growing in the <keyword id="58378" type="General" weightage="20" keywordseo="Indian-workforce" source="Orion">Indian workforce</keyword> is ‘<keyword id="14609778" type="General" weightage="20" keywordseo="quiet-quitting" source="Orion">quiet quitting</keyword>’ and employees feel that this is due to stress and burnout among employees. According to the report, 29% of employees surveyed believe that the feeling of burn-out or being overwhelmed with work is the root cause behind this, while 23% believe that lack of support by managers or bosses, has led to the growth of the trend. However, on the other hand, 33% of the employers surveyed believe that low general job satisfaction (boredom, lack of challenges, etc.) is the main reason for the growing trend of quiet quitting. “In the past few weeks there have also been several global uncertainties that have led to layoffs across the globe. Amidst this, it's important for employers to relook at their workplace culture and address the underlying issues that are driving such trends. The world of work is transient right now and we might see more such trends play out as we acclimate to the new normal of work,” Kumar further added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/big-fat-indian-weddings-back-but-with-slimmer-guest-lists/articleshow/95657820.cms">Big fat Indian weddings back but with slimmer guest lists</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/share-of-domestic-investors-in-real-estate-market-is-rising-colliers/articleshow/95664688.cms">Share of domestic investors in real estate market is rising: Colliers</a>

Not only companies, but employees too find moonlighting ‘unethical’: Indeed report

The dirty little secret on how congressional staff thrive in the always-on world of modern politics is doing moonlight work like 80-hour weeks, including unpaid Saturdays and Sundays

<ul class="summary-list"><li>A popular TikTok suggests many women are "looking for a man in finance" who's also tall and wealthy.</li><li>Five women who have experience dating men in finance told Business Insider what it's actually like. </li></ul>Last week, I went looking for women dating men in finance."You want to hear our pain firsthand?" is one of the first responses I got when I <a target="_blank" href="https://x.com/mariaanoyen/status/1806703626577990034">posted on X</a>, formerly Twitter, asking people to share their experiences.If that rings a bell, you've likely been earwormed by 27-year-old content creator Megan Boni, who shot to fame in April for <a target="_blank" href="https://www.tiktok.com/@girl_on_couch/video/7363742421588512043">a 19-second video she posted on TikTok</a>. The clip shows her singing, with vocal fry, "I'm looking for a man in finance. Trust fund. 6'5". Blue eyes."After her video racked up over 53 million views, Boni <a target="_blank" href="https://www.billboard.com/business/record-labels/man-in-finance-tiktok-sound-creator-label-deal-1235692123/">signed a deal with a major record label</a> and performed <a target="_blank" href="https://www.tiktok.com/@grxciefox/video/7375795789601279278">a remixed version of her catchphrase</a> with electronic DJ David Guetta.If nothing else, Boni has turned the spotlight back onto the rarefied Wall Street world of suits, ties, and Patagonia vests. The Wall Street Journal has already declared it "<a target="_blank" href="https://www.wsj.com/lifestyle/man-in-finance-song-tiktok-09ac3457">The Summer of the Finance Bro</a>."She may have also unwittingly boosted their appeal to potential suitors. The League, a dating and social networking app that says it's for "ambitious" singles, reported male users who said they work in finance received likes "10% faster than before" and increased matches since Boni's TikTok blew up.As someone who is dating a man in finance, I'll be the first to admit that having a relationship with someone in an industry <a target="_blank" href="https://www.businessinsider.com/how-wall-streets-culture-is-contributing-to-the-loneliness-crisis-2023-11">reputed for toxic workplaces</a> isn't always as fun as it sounds. There have been date nights interrupted by an urgent work call or email, and times when I woke up at 3 a.m. to my partner getting home from the office, bleary-eyed and exhausted.Working in finance, however, can mean many things, and the average "finance guy" in the United States is most likely far from "The Wolf of Wall Street."The <a target="_blank" rel="noopener noreferrer" class="c-link c-link--focus-visible" href="https://www.bls.gov/ooh/business-and-financial/home.htm">Bureau of Labor Statistics</a> put the number of Americans — not just men — working in "financial activities at <a target="_blank" rel="noopener noreferrer" class="c-link c-link--focus-visible" href="https://www.bls.gov/news.release/pdf/empsit.pdf">over 9.2 million</a> as of May. That number includes middle- and back-office employees in operational roles like tech and marketing who are often paid in the low six figures. While still well above the nation's median salary, their compensation pales in comparison to the jobs people think of when it comes to Wall Street: <a target="_blank" href="https://www.businessinsider.com/investment-bank-analyst-associate-starting-salaries-goldman-sachs-jpmorgan-citi-morgan-stanley">investment bankers,</a> <a target="_blank" href="https://www.businessinsider.com/wall-streets-hiring-plans-from-jpmorgan-goldman-blackrock-citi-more">private-equity dealmakers</a>, and <a target="_blank" href="https://www.businessinsider.com/investment-bank-analyst-associate-starting-salaries-goldman-sachs-jpmorgan-citi-morgan-stanley">traders</a>. Those roles can make millions of dollars a year.Here, five women with firsthand experience dating a man in finance share their experiences. Some women spoke to Business Insider on the condition of anonymity so they could speak freely about their dating experiences. Their identities are known to BI.Some women dating men with demanding jobs discussed the challenges, from getting stood up due to work running late and endless conversations about golf and money. Others, however, said qualities they appreciated in their finance-industry partners were their ambition and ability to pay their own way.<h2 id="042a6d9f-4515-4c07-9112-6f4af4b5324b">They're often unavailable and can be self-involved</h2>A self-described "hopeless romantic," Cristina Vanko gravitates toward guys who are "clean cut" and professional, with a good sense of humor.Vanko, a 35-year-old advertising art director based in NYC, has dated enough men in finance that she can now spot them from their outfits (vests and expensive watches) and how they hold conversations (charming, but never diving "too deep").Her recent experiences include a February first date with a 37-year-old JPMorgan banker who wouldn't stop talking about his work schedule and how "unavailable" it made him.It came off like a warning but also a test, she added, almost as if he was trying to gauge whether she'd be OK with him prioritizing work going forward."When you're in love with somebody, I think you could still make yourself available," she said. "My mom's a doctor. Like, you're not saving lives."<div type="image" title="wall street bankers" height="1333" width="2000" msid="111485034" hostid="261" sizebytes="94924"></div>Vanko described a different romantic encounter with a guy she met up with more than once who worked in private equity.He was open about his reluctance to commit due to work and travel. At one point, she asked him if he was seeing anyone else. She said he responded frankly: "I have a London girl. You're my American girl, and I have a girl in Berlin."One of Vanko's longest entanglements was with a vice president at Goldman Sachs, whom she met on a dating app in 2023. Their first date was at a wine bar. From the cable-knit sweater he'd thrown on to the Rolex watch poking out from beneath his sleeve, Vanko clocked him as a "finance bro" instantly.After a few more dates, she went on vacation to Los Angeles and returned to find he was dating someone else. Vanko said he slid back into her DMs when that relationship ended, complaining about his inability to find a partner and settle down.Reflecting on his attitude, Vanko said, "I'm not your therapist. I'm happy to be your friend. But it got to the point that I was just like, 'You're complaining about this other girl. Weren't you trying to date me?'"<h2 id="4afb4115-d492-48ea-a34c-1e8dba288f57">Couples need trust to feel comfortable with the long workdays</h2>A 24-year-old based in Chicago said her fiancé, a financial analyst for the auto industry, is proof that not all men in finance are cut from the same cloth."He's an extremely humble person, and he just has the biggest heart," said the Chicago resident, who works in PR and communications. Because they've been a couple for eight years, she said, she knew him before his "excruciating work hours."If she didn't know him so well, she said, she might feel "anxiety" about the lack of communication and access to his phone he typically has during long days on the job.She said she understands why people trying to pursue relationships with men in finance might wonder: "Does this guy even like me? He's not responding to me. He doesn't want to hang out with me."She said they've had to have "hard conversations" and set "boundaries" to ensure they prioritize each other despite their demanding careers.Big date nights happen a handful of times a month — and always on weekends — but they try to have dinner together during the week without phones or laptops present, she said.I asked her about the Journal's claim of a "finance bro" summer."What finance bro is actually having a finance bro summer?" she asked. "They don't really get a lot of time off."<h2 id="5a83f23b-e080-42d0-b553-bcc9c441ad77">Some seem obsessed with playing golf and making money</h2>In the summer of 2023, a woman interning at a private investment management firm in Boston met a senior investment consultant on a dating app. The woman, who asked to be referred to by her middle name, Summer, is now 23 and based in Washington DC.On paper, he fit her type — older, good-looking, and ambitious. They went on to date most of that summer.According to Summer, he was "obsessed" with two things: golf and money. These interests were obvious from how often he brought them up in conversation and also from the miniature golf set in the apartment he repeatedly told her cost him $4,000 a month in rent.<div type="image" title="A man plays golf from afar." height="936" width="1280" msid="111485039" hostid="261" sizebytes="132864"></div>"One time, I told him, 'You know what? I really want to go to the Hamptons,'" she said.His response? "Well, I don't make enough money to go there. You should date someone who has more money.'" Her response? "That's not why I'm dating you. I'm dating you because I enjoy your company."In addition to other misgivings about him, Summer said their conversations never went beyond the surface despite her efforts to dig deeper.The relationship ended abruptly toward the end of her internship, Summer said, a week after they became exclusive.In text messages shared with BI, Summer's former fling said they were going in two "different directions." She also said he told her he couldn't see her because he was getting shoulder surgery, which would prevent him from being intimate with her.Looking back roughly a year later, Summer said she thinks he only saw her as "an attractive person.""I don't think he saw me as an actual person," she added.<h2 id="ad918266-304f-417d-aefa-53d0eebafc50">It can be a relief to be with someone who earns a good salary</h2>A 25-year-old working in marketing in NYC said she's drawn to men in finance because she works in an "industry that you don't make a lot of money.""My ex-boyfriend was literally a starving artist, and it was awful," she said. "I just wanted someone who made money and who would give me a nice lifestyle."Not to mention, she added, "ambition is sexy.""Someone who works hard is better than a bum," she said.Still, dating her current partner, an investment banking analyst, since 2022 hasn't always been smooth sailing.The work hours are tough, and there have been nights, especially in the first year of the relationship, when she'd turn up at his apartment only to be let in by his roommate and be left waiting hours for him to come home from work.She and the investment banker are preparing to move in together. Last Sunday, she said she was left packing boxes by herself after he said he had too much work to help.It's tough, but she said it's not like he's just ditching her to go drinking with his buddies. As she put it, it's more like he has to do his work or he "will get fired."Overall, she feels like she "got lucky" with her boyfriend because he makes an effort to prioritize her, like working from home whenever he can manage it just to be close to her — something she knows not all bankers do.She warned anyone dating an investment banker that it's "nice in theory and hard in practice.""You will get canceled on," she added.<h2 id="33264a7c-4b53-48a6-8493-310e72ed3e23">You may have to live by their schedule</h2>A 24-year-old marketing professional in NYC was friends with a man who worked in finance for years before their relationship blossomed into something more romantic.They dated for a year and a half, during which he worked in investment banking.Physically, he fit Boni's TikTok to a T. "I swear to God that TikTok was made about him," she said. "Someone must have seen him on the street."When they started dating, the marketer said she told herself, "He works a lot, but I can manage. I'll just see him when I can see him."But endless work hours, which sometimes stretched until 4 a.m. and took over weekends, proved too much, especially as he'd routinely ditch dinners with her family or cancel date nights due to his schedule.The marketer said her mantra became telling herself the trying schedule wouldn't last forever because many investment bankers eventually transition to easier-going roles.But by November 2023, she said was done being "second to someone's job.""I was like, 'Listen, man, you want to have your job, I totally respect that, but I need to have my own life,'" she recalled to BI.In hindsight, they just weren't "meant to be," she added.That aside, her advice to anyone in NYC taking the viral TikTok about looking for a man in finance to heart is to "widen their horizons.""There's so much more than just the finance bros," she said.<h2 id="1070e09c-bf9e-4d4a-a077-42d66efb46ff">He's been 'saving' his entire life for me</h2>Aniesia Williams — a 43-year-old entrepreneur and chief client officer for a tech firm Epigen — had little experience dating men in finance.But in January, Williams matched with her now-boyfriend, Dennis Morrow, on Bumble.Williams, based in Raleigh, North Carolina, said Morrow lives about three hours away, in Charlotte. He works for Bank of America combatting fraud and moonlights as a comedian, Williams added.She usually dated people in her sector older than 40. Morrow is 36.From their first date, Williams said she was transparent that she was "dating to marry."Morrow was completely on board, something that she found refreshing. "He was like, 'I have prayed, I have worked, and I have been saving for this,'" she said.<div type="image" title="Aniesia Williams and Sir Dennis Morrow posing in a selfie." height="1400" width="1050" msid="111485036" hostid="261" sizebytes="99834"></div>Williams said they've been conscious about planning to spend time together thanks to the distance between their cities and their busy work schedules.But she's noticed that a benefit of his career is how well he manages his personal finances."This is my first relationship where I have had a man to come to me like, 'I am ready for you,'" she said.Williams and Morrow plan to move in together in Charlotte in September. While she enjoys his financial savvy, she said his job didn't make a huge difference."I could have cared less," she said. "I just wanted to make sure that he was a good human."

Confessions from 5 women who've dated men in finance

<ul><li>50% of employees are preparing for new opportunities by reskilling/upskilling. </li><li>28%of those who’re looking for jobs have said that they will prioritize happiness and flexibility. </li><li>Ongoing <keyword id="6357067" type="General" weightage="20" keywordseo="layoffs" source="Orion">layoffs</keyword> are impacting the employees in such a way that 65% of them are unwilling to go the extra mile in their jobs. </li><li>Over 35% of employers are looking forward to adopting AI/digital/social media for talent acquisition in 2023.</li></ul>The pandemic has not only changed the way people work, but also led them to reconsider how they want their career to progress. According to the October’22 - December’22 <keyword id="15857414" type="General" weightage="20" keywordseo="quarterly-hiring-tracker" source="Orion">quarterly hiring tracker</keyword> report by job search engine <keyword id="6035866" type="General" weightage="20" keywordseo="Indeed-India" source="Orion">Indeed India</keyword>, more than half of all the employees (57%) are unenthusiastic about or bored with their current jobs. In fact, 50% of employees are preparing for new opportunities by reskilling/upskilling. Mental health matters the most for employees now. About 28% of those looking for new jobs have said that they will prioritize happiness and flexibility and 19% have indicated that a good work life balance is a priority. “2022 has been characterized by various shifts in the workplace - from trends like quiet quitting to moonlighting gaining prominence. Going into 2023, it is evident that employees are prioritizing mental wellbeing and work life balance amidst the various fluctuations that are occurring in the world of work,” <keyword id="323873" type="General" weightage="80" keywordseo="sashi-kumar" source="Orion">Sashi Kumar</keyword>, head of sales, Indeed <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> said. The ongoing <a href="https://www.businessinsider.in/careers/news/if-youve-been-laid-off-heres-how-you-handle-awkward-questions-from-your-next-employer/articleshow/96245166.cms">layoffs</a> have also had a debilitating impact on employees, with 65% of them unwilling to go the extra mile in their jobs, as per the report. “Given the market uncertainties and economic climate, jobseekers are hesitant in their current work, demotivated by layoffs and are not willing to fully commit to their current job as well,” said the Indeed India report. <cmsannotation type="cmsannotation" annotationid="Positive sentiment around hiring in 2023" comment="subhead" text="Positive sentiment around hiring in 2023">Positive sentiment around hiring in 2023</cmsannotation> Employers, across all sectors, are keen to step up their <a href="https://www.businessinsider.in/careers/news/indias-hiring-intent-rises-in-q4-led-by-positive-sentiment-in-ecommerce-telecom-and-educational-services-industries/articleshow/96424123.cms">hiring</a> processes in 2023. Over 35% of employers are even looking forward to adopting AI/digital/social media for talent acquisition and 26% of them are planning to explore hyper-local/niche job boards. Overall, 45% of employers surveyed foresee an increase of as much as 20% in hiring. This indicates a change from the sentiment at the end of 2022 that saw slower hiring. Only 64% of the surveyed employers hired between October to December- this marks a significant dip (down from 78%) and reflects a slower pace of hiring activity compared to the previous two quarters, as per the report. “As organizations wait to see how global movements affect the Indian jobs landscape, it’ll be integral for them to also relook at workplace culture and the current sentiment at work, in order to retain talent,” Kumar added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/indias-hiring-intent-rises-in-q4-led-by-positive-sentiment-in-ecommerce-telecom-and-educational-services-industries/articleshow/96424123.cms">India’s hiring intent rises in Q4 led by positive sentiment in ecommerce, telecom and educational services industries</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/work-from-office-moonlighting-mental-well-being-workplace-trends-of-2022-that-are-likely-to-persist-in-the-new-year/articleshow/96423772.cms">Work from office, moonlighting, mental well-being — Workplace trends of 2022 that are likely to persist in the new year</a>

Over half of the employees in India bored with their current jobs: Indeed

<ul><li>While industry leaders like N Murthy expect 70-hour work weeks, the situation on ground is much different, say managers.</li><li><keyword id="4970209" type="General" weightage="20" keywordseo="genzs" source="Orion">GenZs</keyword> are amongst the first to log off right after their shift and clearly communicate that they do not intend to work for longer hours.</li><li>The need to get more out of life than work is a result of their upbringing, say HR experts.</li><li>A better reward system is needed to make them go beyond their working hours, experts say. </li></ul>Rohan Kashyap (name changed), an investment banker is tired of dealing with his younger team members. Being an early millennial, he tries to cut them some slack, but that isn’t working either, he complains. “None of them want to sit beyond their shift. I was interviewing a few people and a candidate did not know anything about our company. When I asked him why he didn’t read up on the company he was interviewing at, his answer was that he attends many interviews and doesn’t have time to read up on every company,” an aghast Kashyap. Many managers face the same conduct from their under-29 team members or GenZs. While industry leaders like Narayana Murthy are batting for 70-hour-work-weeks for youngsters, the situation on ground is much different, say HR experts. Work, but not ‘just’ work The reason for their seemingly willful conduct is not apathy, but their priorities in life are much different than the generations before – be it millennials or GenXers. “It’s not that they are disinterested in work. In fact, they’re among the first to find a tech solution to a problem. It’s just that they want more to life than work,” Varda Pendse, strategic HR consultant and coach tells Business Insider India. Hormazd Mistry, CEO, consulting firm ROI Institute India also agrees that GenZs speak their mind, and for them work is only one of their main priorities. Many GenZs chase other passions after work, be it hobbies, music, sports or attend parties etc, which is a mainstay for them. “It’s not that they aren’t passionate either but they’re passionate up to the salary that they get and that is between 9 am to 5 pm,” Mistry tells Business Insider India. Besides, the authoritarian work culture of the 1990s and 2000s have undergone a sea change and few of the younger generation are subscribing to it. While most managers are baffled with GenZs’ attitude, they also grudgingly admit that their honesty and being upfront about what they want to do, very refreshing. “It’s not that we did not have work shirkers in our time. It’s just that they lied and played games. At least, with these guys, we know what to expect,” says Kashyap who runs a team of eight GenZs. Pendse also adds that GenXers bring in a lot of passive aggressiveness into their work culture, which is fairly absent with GenZs. It makes a workplace fairly transparent. ‘Follow your heart’ GenZs seem to mean well, but little about their workplace conduct belies it. Their conduct is tied very strongly to their upbringing ethos. Most of the GenZs were raised in late 90s and early 2000s which is when most people saw their average salaries go up significantly. “The affluence of their parents is providing them with financial stability which is why they’re confident that if this job doesn’t work out, they can always shift to another one and keep looking until they find what they like,” says Pendse. Mistry also adds that GenZs are mostly raised by people who were frustrated because they couldn’t do more with their lives and had worked constantly. “Baby boomers were taught that work is their priority. But GenZs were told to do what makes them happy and that’s what they do and prioritize experiences, satisfaction as opposed to just working,” he adds. Besides, the digital natives have seen more globalization than any other generation. They’re influenced by global cultures which are giving them wings to break the traditional systems. Show me the money! GenZs’ parents might have seen their salaries go up which allowed them to step ahead. But that’s not true with the younger generation. In fact, fresher salaries have become stagnant and the jobs now are also fewer for many reasons being AI and other disruptions. According to a report State of Working 2023 released by Azim Premji University paints a distressing picture of youth unemployment. “Despite a post-Covid decline, unemployment rates remain high, particularly for graduates, with a concerning 42% rate among graduates under 25 years old,” the report says. Yet, no fear of the future is transferring into GenZs unlike millennials who also started working during the boom period of 2000s, but have seen many ups and downs since then across industries. “The job situation has changed too. Gig economy has picked up and most youngsters are confident that they can make money and survive,” says Mistry. So what does it take for managers to make these confident workers invest more into their work? HR managers say that it’s time for companies to invest more. Sumit Kumar, chief business officer at TeamLease Degree Apprenticeship says that employees in sectors like hospitality, healthcare or banking need people to login for more hours. He believes that working longer should be made optional and they should be duly compensated. “The GenZ are very conscious of work-life balance, but an additional income could be an added incentive or benefit could encourage them to clog in extra hours, however, it made it mandatory, there is a possibility of push back. In fact the option to earn extra bucks by clogging in extra hours could also restrict or prevent moonlighting which became popular to earn extra money,” adds Kumar.

My shift is over: Why do GenZs say it, and is it a bad thing?

<ul><li>The overall <keyword id="15856070" type="General" weightage="20" keywordseo="demand-for-residential-properties" source="Orion">demand for residential properties</keyword> is expected to sustain in the first quarter of next year but will remain skeptical later - depending on the impact of repo rate hike. </li><li>In comparison to the previous quarter, new launches grew by 57%, but saw a 24% decline on a year-on-year basis in NCR in Q3. </li><li>The number of <keyword id="13737890" type="General" weightage="20" keywordseo="Grade-A-office" source="Orion">Grade A office</keyword> leases across the top 7 cities is down by 6–10% over 2021 by the end of the third quarter this year.</li></ul>Despite recording an upbeat performance in residential properties in terms of sales, the year 2023 will continue to witness controlled supply of new launches in most of the top cities, says <keyword id="6420759" type="General" weightage="50" keywordseo="anuj-puri" source="Orion">Anuj Puri</keyword>, chairman — Anarock Group. “The launch trend in 2022 was calculated caution, with developers refraining from putting more inventory on the market than it could reasonably absorb - especially in already abundantly supplied markets,” Puri said. NCR is a clear example of this. In 2022, NCR saw restricted new supply, which played a major role in reducing unsold inventory, added Puri. The NCR region accounted for 7% of the total new supply in Q3 2022 across the top 7 cities (MMR, NCR, Chennai, Hyderabad, Kolkata, Bangalore and Pune). Approximately 6,400 new residential units were launched in NCR between July and September 2022, as per <a href="https://www.businessinsider.in/business/news/mumbai-tops-in-new-property-launches-in-q3-delhi-saw-the-highest-decline-anarock/articleshow/95531567.cms">Anarock’s Q3 2022 Residential Market Overview - Delhi-NCR report</a>, which came in November. In comparison to the previous quarter, new launches grew by 57%, but saw a 24% decline on a year-on-year basis in NCR. “Reduced stock earnings suppress the appetite for discretionary spending and making long-term financial commitments, especially in the cost-intensive housing sector that stays afloat on home loans. Developers have already factored in this possibility, causing them to hold an even tighter rein on new supply until more clarity emerges,” Puri further said. Ready to move in properties will continue to draw the most demand among homebuyers in 2023. The overall demand for homes will sustain at least in the first quarter of next year and is expected to remain skeptical afterwards - largely depending on a few important factors like repo rate hike and consequently, hiked home loan interest rates. The demand is expected to contract if the home loan interest rate rises above 9.5%, according to Anarock’s most recent Consumer Sentiment Survey. <cmsannotation type="cmsannotation" annotationid="Commercial real estate sector may be impacted by global recession" comment="subhead" text="Commercial real estate sector may be impacted by global recession">Commercial real estate sector may be impacted by global recession</cmsannotation> Puri believes that the commercial real estate sector in India depends heavily on expansion by domestic and international corporate companies, and global recession could have direct and considerable repercussions on the Indian commercial office market. After witnessing a dull year in 2020, the <keyword id="15856071" type="General" weightage="20" keywordseo="demand-for-commercial-properties" source="Orion">demand for commercial properties</keyword> picked pace in 2021 with supply and demand recording a 21% and 34% growth respectively, over the previous year. The first half of 2022 also remained upbeat with companies started opening their offices, and asking for employees to work from the offices. But the imminent threat of recession in the US considerably changes things. Currently, 70% of offices in this country are occupied by foreign companies who focus on cost advantages like sub-dollar rentals for good quality Grade A offices, and almost 80% lower operating cost per full-time employee in India compared to the tier II cities in the US, according to Puri. However, the number of Grade A office leases across the top 7 cities was down by 6–10% over 2021 by the end of the third quarter this year. In fact, Puri shared that with each passing quarter the pace of decreased leases has increased - leading to increased caution and reticence by MNC occupiers in the last quarter of 2022. A recession in US in 2023 will only compound this caution, further slowing down MNC leasing. However, the deals concluded in 2022 offer a sliver of hope. “Though the number of leases is declining, the deals that were concluded in 2022 showed that occupiers are confident about the future and are taking positions that are leading to an increase in rentals,” said Puri SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/work-from-office-moonlighting-mental-well-being-workplace-trends-of-2022-that-are-likely-to-persist-in-the-new-year/articleshow/96423772.cms">Work from office, moonlighting, mental well-being — Workplace trends of 2022 that are likely to persist in the new year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/indias-hiring-intent-rises-in-q4-led-by-positive-sentiment-in-ecommerce-telecom-and-educational-services-industries/articleshow/96424123.cms">India’s hiring intent rises in Q4 led by positive sentiment in ecommerce, telecom and educational services industries</a>

US recession may impact demand for residential and commercial properties in 2023: Anarock

<ul><li><keyword id="1553175" type="General" weightage="100" keywordseo="vodafone-idea" source="Orion">Vodafone Idea</keyword>’s board of directors is scheduled to meet on October 21 to consider raising funds. </li><li>The meeting comes at a crucial time, when <keyword id="6375231" type="General" weightage="50" keywordseo="indus-towers" source="Orion">Indus Towers</keyword>, one of the main tower providers of Vodafone Idea, has demanded the telco pay up its dues. </li><li>Shares of the telco gained after the fundraising announcement. </li></ul>Vodafone Idea’s board of directors will meet on October 21 to consider fundraising via convertible debentures, the telco said in an exchange filing, without divulging details about the quantum of the fund raise. "We wish to inform you that a meeting of the board of directors of the company is scheduled to be held on October 21, 2022, inter-alia, to consider and evaluate a proposal for issuance of debenture securities convertible into equity shares on a preferential/private placement basis to a vendor," Vodafone Idea said in its exchange filing. Convertible debenture is a long-term debt that can be converted into equity shares after a specified period. Vodafone Idea’s latest attempt to raise funds is for investing in its network and also to pay its dues to its service providers, including Indus Towers – a tower company in which rival telco Bharti <keyword id="15491" type="General" weightage="50" keywordseo="airtel" source="Orion">Airtel</keyword> holds a 47.76% stake. Notably, Vodafone Idea’s parent company, <keyword id="105732" type="General" weightage="50" keywordseo="vodafone-group-plc" source="Orion">Vodafone Group Plc</keyword>, also holds a 21.05% stake in Indus Towers. Vodafone Idea<a href="https://economictimes.indiatimes.com/industry/telecom/clear-dues-or-lose-tower-access-indus-towers-to-vodafone-idea/articleshow/94492219.cms"> reportedly</a> owes over ₹7,000 crore to Indus Towers. The tower company has asked the telco to clear dues or risk losing access to towers from November. Reacting to the news, Vodafone Idea’s shares rose 1% to ₹8.55. This is, however, still below the ₹10 level that the government is reportedly waiting for before converting its debt to equity, as part of the <a href="https://www.businessinsider.in/business/telecom/news/telecom-relief-package-airtel-vodafone-idea-get-four-year-moratorium-on-agr-dues/articleshow/86227218.cms">telecom relief package announced in 2021</a>. The package gave telcos an option to go for a four-year moratorium on their adjusted gross revenue (AGR) and spectrum dues, among other things. <cmsannotation type="cmsannotation" annotationid="The tide that won’t stem" comment="subhead" text="The tide that won’t stem">The tide that won’t stem</cmsannotation> In 2022 so far, Vodafone Idea has lost over 12 million subscribers, according to data from telecom regulator TRAI. Its rivals <keyword id="6354504" type="General" weightage="50" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> and Airtel continue to add subscribers at a rapid pace. <div type="image" title="Airtel Reliance Jio Vodafone Idea subscriber additions Jan-Aug 2022." msid="94963881" hostid="261" sizebytes="23682" caption="&amp;lt;p&amp;gt;Telecom subscriber trends in 2022 so far&amp;lt;/p&amp;gt;"></div> While the telecom sector is<a href="https://www.businessinsider.in/business/telecom/news/telecom-sector-to-ring-in-stability-in-q2-jio-and-airtel-expected-to-grow-stronger-vi-weaker/articleshow/94709309.cms"> expected</a> to ring in stability in Q2, analysts suggest Vodafone Idea will continue to grow weaker. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/maggi-maker-nestl-indias-net-profit-grows-8-3-to-668-crore-in-q2/articleshow/94960866.cms">Maggi maker Nestlé India’s net profit grows 8.3% to ₹668 crore in Q2</a> <a href="https://www.businessinsider.in/business/corporates/news/moonlighting-is-fine-as-long-as-it-is-unrelated-to-what-we-do-for-our-clients-says-lt-tech/articleshow/94958101.cms">Moonlighting is fine as long as it is unrelated to what we do for our clients, says L&amp;T Tech</a> <a href="https://www.businessinsider.in/business/news/jaypee-and-amrapali-groups-collapse-leaving-buyers-in-the-lurch/articleshow/94961447.cms">70,000 housing units in trouble after Jaypee and Amrapali groups head into financial trouble</a>

Vodafone Idea board to meet on October 21 to consider fundraising via convertible debentures

<ul class="summary-list"><li>Stephen Giaco ran a private-security company registered in his wife's name from a police station.</li><li>He didn't disclose his side hustle, but the NYPD didn't seem to care, a former colleague told Insider.</li></ul>For years, Deborah Giaco was a beloved technology aide for a small Long Island school district, praised by colleagues for her "warm and caring nature." On paper, though, she was also the owner of a security company that touts ties to the Secret Service and claims to have a roster of trained agents with experience as bodyguards, bomb detectors, hostage negotiators and SWAT team members.But while Deborah Giaco owned the company on paper, her husband Stephen, then an NYPD detective, was in charge. According to two former colleagues, Stephen Giaco ran the company, D. Sterling, from the Midtown North precinct where he was based, using public resources for his private benefit.He stashed metal detectors and charged walkie-talkies in the precinct's community affairs office, and gave employees keys so they could walk into what was supposed to be a secure facility and take the equipment to D. Sterling jobs.D. Sterling has provided security for awards shows, movie premieres, and other events hosted by some of the same institutions that Giaco was supposed to protect in his day job, like Radio City Music Hall and the Museum of Modern Art. On several occasions, Giaco was at the same events in his official capacity, collecting overtime. And he would dole out free tickets to some events to his superiors, a whistleblowing colleague told Insider.While the ultimate volume of D. Sterling's business isn't clear, contemporaneous notes and other evidence reviewed by Insider suggest it was a huge operation. But according to the NYPD's responses to Insider's record requests, Giaco appears to have violated NYPD policy by failing to disclose his family side gig. NYPD regulations require officers to provide detailed descriptions of their second jobs and get several sign-offs. NYPD records going back 2013 show Giaco never mentioned D. Sterling, even though he sometimes disclosed work for another employer.The operation illuminates the risks that can arise from police officers' unmonitored off-duty employment. Moonlighting without adequate oversight can mean conflicts of interest for cops — and it can leave them exhausted, potentially putting the public at risk when overworked officers get behind the wheel of a car or use force."Off-duty employment is ripe for abuse because if an officer feels they lack supervision, they'll do what other humans do, which is try to skate," said Keith Taylor, a former high-ranking NYPD official."I can't imagine an officer getting concert or baseball tickets and then handing those out as incentives or freebies to folks in management," said Ken Wallentine, a Utah police chief and law enforcement expert who has written about off-duty employment. "To me, that just stinks terribly."The Giacos didn't respond to several voicemails left at numbers listed for them in public databases, and D. Sterling didn't respond to messages sent to its email address.<h2>A detective blew the whistle and Giaco called him "rat boy"</h2>Giaco, who is now retired from the NYPD, ran D. Sterling from his precinct office at least as far back as the 1990s, according to Lance Trent, a retired crime-prevention detective who shared an office with Giaco and witnessed his conduct for years. Trent said he worked jobs for the company, but eventually called him out in an unsigned letter to the NYPD Internal Affairs Bureau in 2002, which he shared with Insider. Among other things, he wrote that Giaco was providing clients — he named seven — with perks that private-sector competitors couldn't.<div type="image" title="BI Global Image 1348956" height="0" width="0" msid="101599552" hostid="261" sizebytes="28544"></div>"His security business has become extremely large for the simple reasons that he can easily provide his clients with extras," like barriers, parking signage, city permits and special treatment, Trent wrote.Trent said Giaco came into the office one day and described having been confronted by Internal Affairs about the letter. He said he tried to play it cool, but suspected Giaco knew he'd written it. Eventually, Trent said, Giaco took to calling him "rat boy.""I was blackballed," Trent told Insider. At one point, someone put a small rubber rat on his desk. Even though it was typical for crime-prevention detectives to be offered the chance to move to a community-affairs role, Trent added, "I was passed over seven times because I was the rat."Midtown North is an enviable place to work. It doesn't have much violent crime, and it's home to some of America's top businesses and tourist attractions like Rockefeller Center. Some cops call it <a target="_blank" rel="noopener noreferrer nofollow" href="http://nypd-confidential.com/columns/2000/000320.html">Fort Hook</a>, because officers with a "hook" — a friend in the mayor's office or NYPD headquarters — have an easier time getting assigned there.As a detective in the community affairs unit, Giaco was essentially an ambassador for the police department. The connections he made on the job helped him find jobs for D. Sterling and land free tickets to events like a 2019 old-school hip-hop show featuring Vanilla Ice that he doled out to a chief, said Trent, who kept detailed notes on the activities he overheard and observed that he shared with Insider.Insider found that dozens of events in Trent's notes took place when and where he noted them. Trent also identified D. Sterling personnel, and provided reference photos, in the background of events like the <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.alamy.com/new-york-ny-usa-19th-mar-2019-freema-agyeman-at-arrivals-for-us-premiere-museum-of-modern-art-moma-new-york-ny-march-19-2019-credit-kristin-callahaneverett-collectionalamy-live-news-image241287577.html?imageid=C583CF8B-E443-442A-9542-EEC737D16D4F&amp;p=96050&amp;pn=3&amp;searchId=cd8c94dc928655b6c20c04bc83bb3b08&amp;searchtype=0">2019 premiere</a> of Jordan Peele's "Us" at the Museum of Modern Art and Nik and Lijana Wallenda's 2019 <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.youtube.com/watch?v=EKro4g3NBso&amp;t=1785s">tightrope walk across Times Square</a>.D. Sterling continued to use the Midtown North precinct to store its supplies even after Giaco retired in 2017 with support from his old pals at the precinct, Trent said. In photos from 2018 seen by Insider, Detective Mike Dugan can be seen packing up equipment for a D. Sterling employee standing nearby.In a statement for this article, the NYPD said only, "Det. Stephen Giaco retired in July of 2017" and referred Insider to its patrol guide.Trent said numerous senior officers were aware of the operation, but turned a blind eye. Mark Iocco, a former NYPD inspector assigned to the precinct who retired last year, once said that "there are three units in Midtown North: community affairs, crime prevention and D. Sterling," Trent recalled. Iocco didn't respond to calls or emails.At a 2016 Alicia Keys concert in Times Square, Trent wrote, "Sterling had 39 guys." Four men in D. Sterling shirts are visible when an ABC cameraman followed Nik Wallenda down a short corridor after his high-wire act.Despite efforts to combat corruption, policing in New York has been rife with misconduct. The current deputy mayor for public safety, Phil Banks, was <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.thecity.nyc/2021/12/14/22836898/eric-adams-criminal-justice-advisor-left-nypd-under-cloud">named in FBI affidavits</a> after failing to pay taxes on over $500,000 in rent and suspicious cash deposits, according to <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.thecity.nyc/2021/12/14/22836898/eric-adams-criminal-justice-advisor-left-nypd-under-cloud">The City</a>. (The mayor's office has defended Banks; Banks' lawyer <a target="_blank" rel="noopener noreferrer nofollow" href="https://nypost.com/2018/04/22/fbi-eyed-former-nypd-chiefs-mystery-money/">told the New York Post in 2018</a> the money came from rent, an inheritance, and "poker games.")Private security is a common second job for cops, two former NYPD officers told Insider, and Giaco probably wasn't the only one to do it under-the-radar."In all the precincts in Midtown…there were people that had security companies," one said. "I don't know what they net, but I'd say the big guys, their gross receipts were definitely seven figures."Trent said his negative experience with Internal Affairs in 2002 made him hesitant to reach out again, even though D. Sterling's activities continued until Trent's 2021 retirement.Everett Stern, a whistleblower-turned-security consultant who has worked with Trent, said he urged local and state authorities to investigate his claims and provided an intelligence report that summarized them to several agencies, including the New York Attorney General's office and the current commander of the Midtown North precinct. They either didn't respond or passed the buck, Stern said. The New York AG's office didn't respond to a request for comment."Not to at least open an inquiry or get back to me and say, 'Do you have more information,' or 'Who's the whistleblower,' it doesn't make sense to me," Stern said. "Why would they not do that?"<h2>Police officers' second jobs can create risks</h2>For years, groups like the International Association of Chiefs of Police have sought to spread awareness of the risks of not properly regulating and supervising police officers' off-duty work. But not all departments have heeded the warnings, and scandals persist.In Los Angeles, police captain Cory Palka wound up at the center of a firestorm after the New York Attorney General learned that he had tipped off CBS — where he moonlighted as private security — to a criminal complaint made against its CEO Les Moonves. He is reportedly still under investigation. Palka did not respond to a request for comment.And in Miami, police watchdogs <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.miaminewtimes.com/news/miami-police-commit-misconduct-during-off-duty-private-security-details-report-warns-11309639">wrote in 2019</a> that cops appeared to bend the rules to work at bars and clubs that officially barred their employment."The majority of security companies in New York City are heavily tied in with law enforcement, not just in the NYPD, but also in the feds," said John Macari, a retired lieutenant. "A lot of that stuff's not authorized."And issues posed by off-duty employment aren't unique to large departments. Wallentine, the Utah police chief, said he knew of a city where an officer was caught tipping off the manager of an event hall where he or she had worked off-duty to be wary of serving underage or inebriated patrons at a particular event because undercover police would be present.Second jobs can also leave officers exhausted and play a role in bad decisions — with fatal consequences. Mohamed Noor, the Minneapolis police officer who was convicted of manslaughter for killing Justine Ruszczyk Damond, went from working a <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.startribune.com/judge-rejects-motion-to-seal-medical-records-in-trial-for-officer-who-killed-justine-ruszczyk-damond/492518991/?refresh=true">seven-hour private security shift</a> to a ten-hour police shift. He was about seven hours into the shift when he shot Damond.Use of force isn't the only risk when cops work too long. New York City's Department of Investigation, which tracks city government conduct, <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.nyc.gov/assets/doi/press-releases/2023/May/21OIGNYPD.OT.Rpt.Release.05.03.2023.pdf">found that</a> police overtime correlated with lawsuits, civilian complaints, and car crashes.The department said it couldn't analyze the impact of cops' second jobs because the NYPD "does not require officers to report those hours and does not monitor or track them.""Ultimately, the agency — by allowing that off-duty employment to occur — is taking a risk," said Taylor, the former senior NYPD official.

You Searched For "Moonlighting IT sector" and got 11 results

SIMPLY PUT: Moonlighting is wrong... but is it really?

Malini Bhupta

SIMPLY PUT: Moonlighting is wrong... but is it really?

Work from office, moonlighting, mental well-being — Workplace trends of 2022 that are likely to persist in the new year

Vaamanaa Sethi

Not only companies, but employees too find moonlighting ‘unethical’: Indeed report

Vaamanaa Sethi

The dirty little secret on how congressional staff thrive in the always-on world of modern politics is doing moonlight work like 80-hour weeks, including unpaid Saturdays and Sundays

Kimberly Leonard,Warren Rojas…

Confessions from 5 women who've dated men in finance

Maria Noyen

Over half of the employees in India bored with their current jobs: Indeed

Vaamanaa Sethi

My shift is over: Why do GenZs say it, and is it a bad thing?

Katya Naidu

US recession may impact demand for residential and commercial properties in 2023: Anarock

Vaamanaa Sethi

Vodafone Idea board to meet on October 21 to consider fundraising via convertible debentures

Rounak Jain

An NYPD detective scored freebies and raked in money running a private security company from his precinct. His bosses didn't care.

Jack Newsham

Popular Keywords

Buying Guides