As the coronavirus lockdown is hampering the economy at its core, most of the organizations around the world are cutting the salaries of their employees. However, there is an organization that has done vice-versa.
Asian Paints, India's biggest paint maker is doing the reverse to boost employee morale.
The benefits that the company has offered to its sales staff include hospitalization and insurance, full sanitization facilities for partner stores, and direct cash support. Asian Paints also transferred Rs 40 crore into the accounts of its contractors.
Asian Paints MD Amit Syngle said, “We have to set an example of true leadership and an organization that takes care of all its stakeholders. I have been updating the board regularly on all such initiatives and have received their approval for these actions."
"I see this as a big opportunity to step in and interact with every single employee and assuage their concerns in an uncertain marketplace. We are not in the hire and fire business and as a mature brand have reassured employees that we all are together in this,” he added.
Further, the company has donated Rs 35 crore toward the central and state Covid-19 relief funds. It is also making sanitizers to aid the nation’s fight against the virus.
Syngle also said "The germination of the idea of sanitizers came from the Ministry of Chemicals, nudging us to make them….We came out with a range of hand and surface sanitizers under the brand name Viroprotek. This launch also resonated with our health & hygiene space foray where we already have Royale Health shield, an anti-bacterial and anti-asthma paint."
Asian Paints shares traded 0.53% higher at Rs 1,530.95 apiece. Its shares have gained 16% in the last one year.