As the cofounder and Chief Compliance Officer (CCO) of a fully remote business, I faced a challenging situation earlier this year when I discovered that one of my employees was secretly working a second full-time remote job. This experience led me to make a difficult decision, ultimately resulting in the termination of his employment.
Our company is headquartered in Barcelona, but the employee in question was based in Peru. He was hired in 2022, and initially, his performance met expectations. However, over time, I began receiving complaints from clients about missed deadlines and incomplete assignments. He also became less responsive to communications, and the complaints became a recurring issue.
When he began declining shifts he had routinely worked in the past, my suspicions grew. I had a gut feeling that he might be involved in another job on the side, but without concrete evidence, I held off on taking any immediate action. Instead, I scheduled one-on-one meetings with him to discuss his declining performance and reiterated the importance of improvement. I made it clear that if things didn’t change, I’d have no choice but to let him go.
Although there was some marginal improvement after these discussions, his overall performance remained below the required standard. This placed a heavy burden on the rest of my team, as they had to cover his shifts and compensate for his missed deadlines. The strain on the team was evident, and the situation could not continue indefinitely.
How I Discovered the Issue
In December, my company introduced time-tracking software called DeskTime as part of a broader initiative unrelated to this employee. My long-term goal is to implement a four-day workweek for the company, and the first step in that process was to better understand how my employees manage their time. The software would help us identify areas for optimization to boost overall productivity.
All full-time employees and freelance contractors were required to install DeskTime on their computers. The team was fully aware of this change, and the software tracked their activities during work hours.
After a few weeks of using DeskTime, I reviewed the tracking data for the employee whose performance had been concerning. What I found confirmed my suspicions—there was another company’s name, a U.S.-based business, consistently appearing in the tracking data. It was clear that this employee was working on tasks for another company during his regular work hours with us.
Armed with this information, I made the decision to terminate his employment the next day.
The DeskTime data revealed that he had been using various software applications unrelated to his role with us. The software’s screenshot feature also captured his computer screen, showing him actively working on tasks for the other company. Based on this data, I estimate that nearly half of his work hours were spent on tasks for his second job. It seemed that he had forgotten the software was tracking his activity automatically, without the need for manual adjustments.
While the missed deadlines, unresponsiveness, and shift refusals had already led me to believe he was working another job, the DeskTime data provided the concrete proof I needed. In fact, I likely would have terminated him regardless of the tracking software, but this data made my decision much easier. Shortly after I fired him, he updated his LinkedIn profile to reflect that he was working full-time for the other company, further confirming my suspicions.
Why Overemployment Can Be Unethical
I realize that some may view my decision as harsh, but I don’t support the trend of overemployment—particularly when it’s conducted in secret. In my view, it can be unethical and detrimental to both the team and the business.
First and foremost, it’s unfair to the rest of the team. When one employee fails to carry their weight, others must pick up the slack. In this case, the rest of my team had to absorb his missed shifts and manage client issues caused by his unresponsiveness. This created unnecessary stress and pressure on the team, which was neither fair nor sustainable. His actions were selfish, and retaining him in the company was not an option.
Secondly, I don’t believe it’s possible to effectively manage two full-time jobs without the quality of work suffering. Even with AI tools or automation, an individual’s attention will be divided between competing responsibilities, which inevitably leads to a drop in performance. As a business owner, my priority is ensuring that my clients receive the best possible service. I can’t afford to lose clients because one of my employees is trying to juggle two jobs at once.
I’m not opposed to side hustles, and I fully understand why someone might want to pursue additional income streams. However, I firmly believe that any additional work should be done outside of regular business hours and in a way that doesn’t compromise the quality of the primary job. In this case, my employee’s actions affected his ability to perform his duties, which in turn impacted my business and clients. That’s simply unacceptable.
For wealth advisors and registered investment advisors (RIAs) working in fully remote environments, this experience serves as a cautionary tale. With the rise of remote work, it’s more important than ever to ensure accountability and transparency within your teams. Implementing tools like time-tracking software can provide valuable insights into employee productivity and help catch issues before they spiral out of control. However, these tools should be used thoughtfully, with clear communication to the team about why they are being implemented.
In my case, DeskTime played a critical role in uncovering the truth, but it wasn’t the only factor. Open communication, regular performance evaluations, and a culture of trust are equally important in maintaining a productive remote workforce. Wealth advisors, like any other business leaders, need to strike a balance between offering flexibility to employees and ensuring that work standards are met.
Ultimately, this experience reinforced the importance of maintaining a strong and reliable team. For RIAs managing client relationships, the stakes are even higher. Clients trust advisors to be fully engaged, responsive, and committed to delivering results. If one employee’s actions compromise that trust, it can have far-reaching consequences for the entire firm.
While the world of remote work offers incredible opportunities for flexibility and work-life balance, it also comes with new challenges. For wealth advisors, navigating these challenges requires a proactive approach to managing teams and ensuring that everyone is aligned with the firm’s values and goals. In the end, the success of a business depends on the collective efforts of its team—and there’s no room for distractions or divided loyalties.
