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Iffco Tokio hired 400 employees during lockdown; gave annual increments

Iffco Tokio has not scaled back its hiring plans despite coronavirus pandemic, and has also rolled out annual increments at a time that saw many employers scaling back costs

twitter-logoBusinessToday.In | June 5, 2020 | Updated 12:27 IST
Iffco Tokio hired 400 employees during lockdown; gave annual increments
Iffco Tokio hiring during lockdown

Iffco Tokio General Insurance has onboarded as many as 400 employees during the lockdown period, when most companies were laying off workers. The company's board had decided to expand its network, for which it had already received applications earlier in the year.

According to a report in The Times of India, the insurer onboarded 400 employees between March and May. Some of the employees were supposed to be hired in the first quarter but the nationwide lockdown changed its plans. Iffco Tokio completed the process over video calls and an app for induction of new staff.

The hiring conducted was for sales and distribution departments in Tier I to Tier IV locations. Some of the employees are also expected to work out of single-person offices. iLeap is the mobile application that the company used for its online induction training. Some of these employees have also started working remotely.

The insurer has not scaled back its hiring plans despite coronavirus pandemic, the daily stated.

The insurer also rolled out annual increments at a time that saw many employers scaling back costs. Ramesh Kumar, ED (HR, training, admin & CSR), Iffco Tokio General Insurance told the daily that they revised the salaries according to performance and vintage, ranging from 10 per cent to 30 per cent for all deserving employees. "In our 20th year of operations, we wanted to retain all deserving employees and at the same time bring in fresh blood to meet new challenges in this new financial year," he said.

Kumar said that all the newly-hired employees were onboarded in a seamless manner keeping in mind the social distancing norms. "We also trained them digitally during the lockdown so that they are ready to be in the market as and when the norms are relaxed," he said.

Also read: Despite high unemployment rate of 23.5% in May, India added 21 million jobs, says CMIE

Also read: Infosys BPM to not lay off employees for now, optimise bench strength

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