Dual Employment Not Allowed, But Employee Needs To Disclose If There’s No Conflict Of Interest: Mindtree

During the earnings call for Q2 FY23, Mindtree made it clear that dual employment is not allowed as per its employment contract when asked about the issue of moonlighting.

Addressing BW Businessworld’s question on moonlighting at the earnings call of Q2 FY23, Mindtree’s Chief Financial Officer Vinit Teredesai made it clear that the company does not allow dual employment contracts. 

Adding to this, Teredesai said wherever there is no ‘conflict of interest’ Mindtree employee had to make a disclosure about their ‘side activity’. This would be reviewed and then either allowed or disallowed. 

Mindtree’s opinion has been echoed by all the three other IT majors including Infosys earlier on Thursday, which said that it does not support dual employment either. 

On Wednesday, Wipro CEO Thierry Delaporte said that the company was comfortable with the idea of side jobs but highlighted the fact that working for a competitor is definitely a ‘question of ethics’. HCLTech too clarified that dual employment while working for the company was not allowed.

Mindtree in its Q2 FY23 recorded 27.5 per cent year-on-year (YoY) growth in its consolidated net profit at Rs 508.7 crore. The company also posted a consolidated net profit at Rs 398.9 crore in the quarter a year ago. Its revenue from operations grew 31.4 per cent to Rs 3,400.4 crore compared to Rs 2,586.2 crore in the corresponding quarter last year.

“We owe our consistent profitable growth to the confidence that our clients and partners have placed in our vision, and to the passion of our more than 38,200 talented professionals who live and breathe that vision every day”, said Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree.

The company’s trailing 12 months attrition was 24.1 per cent in Q2 FY23.