Pune-based Panchshil Realty has taken a bold step in its commitment to people and community by issuing financial support in full repayment capacity. Guided by the belief that true vision and growth calls to ‘build back better’ and revisit the social bond of reform, the real estate developer announced a first-of-a-kind initiative to support employees by returning 100% compensation including pay cuts incurred during the coronavirus pandemic.
Talking about this, Atul Chordia, Chairman of Panchshil Realty stated, “We count on you, and you can count on us – that is the message we want to give to our team. The two values that a big part of why we started our company are giving back and being optimistic about the future.”
He added that the key goals to this initiative are decreasing the spread of the disease through the company’s ‘Employee and Family Vaccination Drive, helping those who contract it recover with its Employee Support HR Policies. “We want to protect the economic and social well-being of local communities by committing a ‘total return of paycuts incurred’ during the outbreak,” Chordia added. “At Panchshil, we approach everything we do with a deeper level of care and respect. It’s a recognition of us all as individuals, who thrive when we have the resources that meet our own unique needs. We are committed to supporting those impacted by this global crisis, especially in the communities where we operate.”
By committing total compensation to employees, the Panchshil Realty group aims to address the financial vulnerability, hardship and social dislocation that this pandemic has brought about, as families grappled with job disruptions, school closures and unexpected parental, childcare and medical costs.
Company culture is more highly valued
As the economy and industry is adapting to a host of recent changes, from a rapid work shifts to altered business dynamics, Panchshil Realty emphasises the breadth of potential changes to better prepare employees for the road ahead. The organisation has fully rolled back pay cuts and restored salaries to pre-COVID levels.
While there is acceptance that the pandemic will play out through the year, fiscal agility is the need of the hour. The luxury real estate company is committed to helping bridge the gap. As the industry starts to come out of crisis management, it strongly believe that there is an opportunity for a reset in work and rewards. The key is to balance short-term cost management with the need to build resilience in order to rebound when required.
With talent migration almost certainly on the horizon, Chordia strongly advocated that companies that cultivate cultures reflecting what is most important to employees will win the upcoming talent war. “At Panchshil, we are focused on cultivating thriving cultures of internal mobility, prioritising continuous learning, and delivering robust benefits to support employees. The workplace of the future is here; and we aim to approach each component of this new normal as an opportunity to maximize our company culture and differentiate ourselves as an employer of choice. A prioritisation of well-being in the workplace leads to more benefits and supports for our employees, such as in physical and mental health,” he added.
A SENSE OF BELONGING
The Panchshil Foundation fosters a strong sense of community, belonging and ownership as it believes that better communities are built when people lead better lives. Since its employees are a part of its family, they are the first to benefit from the company’s social initiatives.
One of Panchshil Foundation’s core initiatives is the facilitation of education for all. In keeping with this belief, the company sponsors the tuition fees for all of its employees’ children from class I until XII.
“We strive to create sustainable social projects and make maximum impact in bettering lives. We shoulder the responsibility of being accountable and transparent to the community such that, with our endeavours, we may set benchmarks in all our social initiatives and be a source of pride for all stakeholders,” said Chordia.
