Source | economictimes.indiatimes.com | Kala Vijayraghavan, Rajesh Mascarenhas
MUMBAI: Asian Paints is swimming against the tide. Instead of slashing pay and jobs – standard industry responses to the current demand destruction – India’s biggest paints maker is raising salaries to boost staff morale.
Its scope of assistance to the sales channel includes hospitalisation and insurance, full sanitisation facilities for partner stores, and direct cash support. Asian PaintsNSE 0.19 % also transferred Rs 40 crore into the accounts of its contractors.
“We have to set an example of true leadership and an organisation 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,” MD and CEO Amit Syngle told ET. “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