Purpose: 21st century is the century of knowledge
and only those individuals or organizations which harness this knowledge would
only be successful in their endeavours. New and unique technologies are coming
everyday and trying to capture as much market-share as possible rendering the
existing one’s as obsolete. This gives rise to an important question of the
time that what would be the future of those individuals who are working in this
information technology industry and trying hard to remain competitive with
various kinds of up-gradations in their existing intellectual knowledge base.
While analysing the recent lay-offs in the IT industry in the financial year
2015-16 and 2016-17 by big players like Cognizant, Cisco, Capgemini SA, it can
be inferred that jobs are being automated very rapidly and IT industry may soon
cut down its human workforce to bare minimum requirements. This makes the IT
workforce look for various alternatives for their survival and future security.
This has been investigated many times by various analysts that jobs are being
eradicated quickly in the IT industry but only a few have critically examined
the new opportunities that can be or are being created due to these dynamics of
industry. This paper aims to bridge this gap.
Research Methodology: A qualitative multi-reports analysis
has been used in this paper for data synchronization to gain fruitful insights
into this issue. Collection of data has been done from real case studies which
are available in the literature and in the internet resources.
Findings: It has been found that although the speed of
workforce cut-down with big players in the market has been exponential but
parallely there has been a creation of new kind of jobs for whom special kind
of knowledge, skills and competencies are required. Individuals working in this
industry are looking for various coping strategies to remain abreast with the
dynamics of rightsizing of the organizations. They prefer either of the
alternatives from Skill Diversification, Skill Enrichment, Planning and working
towards new ventures, Going to Academia parallely for knowledge enhancement
etc. This has been found out that all this can only be possible if an
individual is excellent at multi-tasking. This is giving rise to a new
phenomenon of multi-jobbing which is also referred to as moonlighting in the
context of emerging human resource development. Organisations are also trying
to keep track of the moonlighting practices of their key knowledge workers for
ensuring their retention because key knowledge workers are the primary assets
of the firm which decide its growth and prosperity even when there are
unpredictable dynamics in the industry.
Keywords: Moonlighting, Knowledge Workers, Knowledge
economy, IT/ITES professionals, emerging computing technologies, Job challenges
in IT industry.