“Equal opportunities with equal financial benefits and better planning”
Key Takeaways:
Introduction:
One of the leading apparel and accessories retail brands in India with a significant footprint in the south of India. After the consolidation of its multiple branded apparel businesses in the year 2019, it is now anchored by a force of over 17,000+ employees. It takes pride in hiring a diverse set of employees from multiple cultures and economic backgrounds, giving opportunities to the underprivileged. Part of its orientation involves rigorous training which enables the employees to get paid equally and also get equal opportunities at work. It is also built on the foundation of stakeholder value creation. 55% of its business comes from overseas operations via the e-commerce platform, trade exhibitions, and boutique tie-ups and partnerships. Having a diverse footprint also makes it necessary to have automated systems of compliance and payments in place.
The Challenge:
The endeavour of the company to give equal opportunities to all employees does not change the fact that there is a discrepancy between individuals based on financial background and their financial needs. To meet this gap, employees also need to be given the added benefit of access to funds. Also, with offices not just in India but overseas as well, and the reliance on overseas operations, automated systems had to be in sync. This also poses a greater challenge to ensure that compliance is in place. Unipe offered a solution to both problems through the partnership with the company.
Getting to the heart of the problem:
Delivering superior value to all its stakeholders is one of the visions of the company. The workforce of the company forms a significant part of meeting that vision. About 42% of employees in the retail sector expect their employees to secure their financial well-being. 81% of the employees face mental stress due to financial burdens and this affects their productivity. Unipe, with its ready solution, helped the company to get close to its vision.
The Solution:
The high percentage of employees in distress warranted immediate action and quick solutions. Unipe’ benefits served as a customized solution for the company.
Benefits of using Unipe include:
EWA program gave access to funds to employees from all walks of economic background. Timely access to their salary reduced mental stress and reduced the gap between the employees of the company.
Streamlining multiple systems in place to ensure timely and easier means to meet the stringent compliance requirements
Post-Unipe Picture:
