Online food delivery aggregator Swiggy on Wednesday rolled out a new policy under which it will allow its employees to work on second jobs after working hours, a move that the company believes will help develop the individual’s work-life balance.
Under the ‘moonlighting policy’, staff can take up external projects for pro-bono or economic consideration based on internal approvals. This could encompass activity outside of office hours or on weekends that does not impact their productivity on the full-time job or have a conflict of interest with the company’s business in any way, Swiggy said in a statement.
The move comes just five days after the unicorn had announced shifting to a permanent remote working policy for a majority of roles on Friday last. The SoftBank and Prosus-backed platform follows suit with a list of other companies moving to remote working. Recently, Meesho, NoBroker, Magicpin, Spinny and Zerodha also announced similar permanent work from home setups.
Swiggy, operated by Bundl Technologies Pvt. Ltd, raised $700 million in a funding round led by Invesco, earlier in January. The fundraise valued Swiggy at $10.7 billion, which is double its last valuation in July, according to a person with knowledge of the matter.
“With the moonlighting policy, our goal is to encourage employees to pursue their passion without any constraints due to their full-time employment with us. This is yet another step in our journey towards building a world class people first organization,” said Girish Menon, Head of Human Resources at Swiggy.
The company further said in the statement said the policy can be availed by all full-time employees of Bundl Technologies, including subsidiaries, affiliates, associate and group companies.
Last month, Swiggy appointed Rohit Kapoor as the head of its food delivery business, VCCircle had reported. Kapoor, who is currently Oyo’s global chief marketing officer, will be Swiggy’s first chief executive officer of its food delivery business. He will report to founder and CEO Sriharsha Majety.
The unicorn agreed to acquire Times Internet-owned table booking platform Dineout in May, in a deal valued at about $150 million, said a person familiar with the matter.
In June, Swiggy announced buyback of shares up to $23 million issued under its employee stock option plan (Esop). This is part of Swiggy's two-year Esop liquidity program worth $35-40 million that was rolled out in October last year. The next round of ESOP liquidity under this program will be held in July next year.
Swiggy also launched a new program - Build Your Own Dollar (BYOD) - to allow its employees across the company to invest in Esops.
