Finolex Industries Ltd (FIL), India’s largest manufacturer of rigid PVC Pipes & Fittings took a slew of initiatives to reassure employees, dealers and associates amid the lockdown that has taken a toll on businesses.
FIL has increased the Turnover Discount Scheme (TOD) across its dealer network which is in addition to the TOD that the company pays to incentivize its dealer network. The company has a network of over 18,000 retailers, dealers and sub-dealers.
The additional TOD is being paid to the dealers who have achieved their target and for those who could not, will be paid a token amount as a gratitude to cushion the impact of the challenging business environment.
Second, to reassure employees, the company has taken a progressive step by not deducting staff salaries. This gesture was widely appreciated by employees across the rank and file of the organization.
FIL along with its CSR partner Mukul Madhav Foundation rose to the occasion and handed over PPE suits, ventilators, disinfectants, grocery kits and other essential commodities to hospitals and organizations.
The lockdown also disrupted the lives of the most vulnerable sections of the society namely the migrants and the daily-wage workers and the foundation extended all possible support to them in Pune. The company has also paid dividend in the month of March this year to the shareholders.