Q: Can you share some best practices adopted by Mahindra Ideal Finance to tide through the unprecedented challenges brought about by the economic crisis?

A: During a year in which the impacts of the economic crisis spared no one, we gave priority to helping our valuable team members by finding ways to ease some of the economic pressures brought on by scarcities and inflation, such as the provision of transport and an inflation allowance to meet the rising cost of living.

This allowance was given based on their income levels with a considerable portion of the budget being allocated for lower level income earners who were most impacted. Subsequently, the allowance was added to their monthly salaries since inflation continued to remain high for most part of the year and it soon became obvious that it would continue to do so for some time.

Furthermore, we provided year-end bonuses to all employees even though the year was not a successful one in terms of business growth. In addition, the company reached out with financial help through its welfare fund to help employees who were faced with crisis level challenges amidst the operating conditions during the year.

We also facilitated flexible working arrangements to keep the cost of attending work low for team members by providing laptops, internet connectivity and shift operations.

Even though some of our business products were inactive, the individuals who were in such functions were paid their relevant remuneration and no employee was laid off during the period.

Q: Could you outline how your organisation strives to enable the ‘employee experience’ in the workplace?

A: Our operational model ensures minimum stress levels for our team members as we strongly believe that individuals with zero stress show higher productivity and make our customers happy.

More importantly, we ensure that employees can complete their work during working hours. It’s very rare for employees to work long hours as the work is planned and organised well. We encourage teamwork at all levels so that when an employee is absent, another person is assigned to complete the necessary tasks, which eliminates the need to work additional hours.

We’ve inculcated a culture of celebration and appreciation within the workplace. We celebrate achievements both big and small, as it boosts self-confidence, motivation and performance in the workplace.

One unique factor about our culture is that team members perceive each other as family. Therefore, some aspects of a family such as respect, empathy, caring and a sense of belonging add more value to our continuous success, and make the workplace a pleasant one for all. It creates a positive, motivating and morale boosting culture.

Our staff welfare refers to all aspects of employee wellbeing, and includes physical safety, mental health and stress management programmes. Beyond general programmes, the welfare fund makes contributions to provide cash donations for significant life events such as marriages, childbirth, birthdays or even deaths of family members.

Q: What is the role of senior management in promoting an open and engaging culture at Mahindra Ideal Finance?

A: We encourage a culture of open communication in which any member of the staff can speak directly to the Chief Executive Officer (CEO) or Chief Operating Officer (COO). This helps us to understand the ‘pulse and pain’ of team members, and allows us to take appropriate and immediate action, which is highly appreciated by the staff.

The management team also visits all branch locations every three months, giving employees at those sites the opportunity to voice their concerns.

All senior members of the leadership hold the responsibility for people over and above their core functional responsibilities. They have been made accountable for ensuring the transparency of work, making staff aware of the company’s direction, and creating various platforms to gather employee feedback and input.

Our senior management team takes the lead in setting the tone, and providing resources and communication on creating an engaging culture to show team members that they are important and valued.

Q: How can organisations pursue the philosophy of creating a ‘great workplace for all’?

A: We’ve always advocated for equal opportunity and accordingly, created a fair and inclusive workplace for our entire staff across the country. We value the diversity of perspectives, ideas and talents as important to enhancing the value we create for our customers and shareholders.

As an equal opportunity employer, our workforce represents diverse ages, ethnicities, religions and genders, and we do not discriminate against people on the grounds of age, gender, marital status, sexual orientation or caste. The only consideration for prospective employees is if they meet the described job criteria and satisfy the company’s employment requirements.

New hires, salaries, benefits and opportunities for growth are strictly merit-based and depend solely on the ability to perform the job. We also ensure that all employees have equal opportunities to benefit from training and development for career progression.

– Compiled by Yamini Sequeira
Duminda Weerasekare | Chief Executive Officer

Telephone 0712 228000  |  Email duminda.weerasekare@mahindraifl.lk  |  Website www.mahindraifl.lk