Business
Matrix security watchdog launches new moonlighting check product
Global Banking & Finance Review®
Company
LONDON, October 31, 2023 – Matrix Security Watchdog (MSW), experts in all areas of UK and international background screening and pre-employment checks, today announced the launch of their latest product, the MSW Moonlighting Check.
Employee Moonlighting, defined as individuals holding additional employment alongside their primary job, has become a significant issue in recent years and especially in the current global cost of living crisis and evolving flexible work environment and there is no doubt that these factors have contributed to a surge in second-job arrangements. Addressing these concerns and supporting the well-being of both employees and organisations has become paramount. With these concerns in mind, the Moonlighting Check has been developed as a multi-occupation screening assessment that leverages Open Banking technology to verify an individual’s employment and income details.
Open Banking technology allows MSW to access candidates’ financial data safely and securely, shared only with the candidate’s consent. This data enables the identification of additional income sources, highlighting earnings that come from other sources beyond the primary employer.
Susie Thomson
Commenting on the launch Susie Thomson, managing director of MSW, said: “Employee moonlighting is not illegal in the UK. While organisations can implement non-compete and moonlighting policies and contracts to manage related risks, it is not a legal requirement. For many living through this tough economic climate, holding multiple occupations is a necessity, and organisations have a moral duty of care to ensure employees are allowed to make enough income to survive. However, employees need to open about their additional employments. Without such transparency, there is a risk of impacting both the employee and employer negatively.”
Thomson emphasises the potential consequences of overlooking moonlighting issues, including an adverse impact on employee well-being, such as chronic stress, poor work-life balance, conflicts of interest (e.g., data misuse or the leakage of company information to competitors), and misuse of company resources, which can collectively diminish an organisation’s productivity and performance. She states: “These factors can lead to higher rates of staff absenteeism and financial losses”.
The Moonlighting Check is designed to foster transparent and effective communication between organisations and employees. By ensuring that employees disclose secondary employments, this assessment helps organisations better understand their workforce’s commitments outside their primary roles.
Thomson comments on the significance of this product: “At MSW, we are committed to offering cutting-edge solutions that address the evolving landscape of employment. The Moonlighting Check underscores our dedication to promoting well-being and fostering honest, open relationships between organisations and their employees. We believe that this tool will prove invaluable in managing Employee moonlighting and its potential effects on both individuals and businesses.”
Employee moonlighting refers to individuals holding additional jobs alongside their primary employment, often to supplement income.
Compliance policies are guidelines established by organizations to ensure adherence to laws, regulations, and ethical standards in their operations.
Explore more articles in the Business category
