Key Points
Many companies in India Inc now help their employees multiply their money or put away a little something for a rainy day through financial awareness sessions and by providing access to various financial tools and, in some cases, trustworthy financial advisors...
With a predominantly young workforce that is looking to understand not just personal finances better but also invest effectively for maximum returns, the focus is on driving knowledge around mutual funds, shares, derivatives, as well as government-provided investment plans, industry insiders said.. Companies are also educating employees - even freshers - about retirement plans and family financial decision-making..
"While we do organise sessions which educate employees about government-run programmes like NPS and PPF, we've also partnered with banks and financial institutions to educate employees on how mutual funds work, what they need to keep in mind while investing, and how they can look at long-term investments like shares," said Yeshwinder Patial, senior director of HR at MG Motor India...
"Additionally, employers are also offering access to financial advisors including financial counselling, individual retirement planning for those approaching retirement, and family financial decision-making," he said.. P&G India has designed a benefits portfolio for employees, and focuses on their long-term wealth creation by enhancing their financial wellbeing capability..
"We also offer emergency financial assistance to our employees and their partners in case of natural calamity, demise, or hospitalisation of an immediate family member to cover expenses not covered in the company's existing medical policy," said Srinivas PM, head of human resources at P&G India..
