pay advances, increased insurance caps, and doctors on call. To help out its over 20,000 workers in India, Barclays has implemented a new range of initiatives including encouraging vaccinations, increased insurance limits, uncapped paid leave, financial assistance, and support networks. Families of the London-based Barclays, whose India activities incorporate finance, securities, technology, and shared services, are also open to some of the aforementioned benefits.
According to the statement of the bank, hospitalization premium limits have been increased, and that some expenses that are not covered by insurance, such as PPE equipment charges, would also be covered. The statement said, “All employees can take uncapped paid leave to give sufficient time to recuperate from Covid-19, get vaccinated, and for taking care of a family member. Junior colleagues will receive one month’s salary in advance to help manage unforeseen expenses”.
According to the bank, employees can make use of the following services anytime: 24-hour Covid treatment helpline, online medical counselling, a peer-to-peer support network, and a 24-hour confidential helpline that offers free counseling services.
Standard Chartered stated that its extensive benefit package for its over 25,000 workers in India will incorporate financial compensation of expenses brought by Covid-19-related health care for parents and parent-in-laws up to 2.50 lakh per patient with ICU confirmation and up to 1.25 lakh per patient for other hospital treatment for Covid-19. The London-based bank announced that it would include an interest-free salary advance of up to six months gross pay to cover costs incurred as a result of health emergencies related to Covid-19 and that after a six-month moratorium period, reimbursement will begin.
According to the statement from Standard Chartered, in the tragic event of an employee’s death, their families would receive financial insurance as four times as the yearly gross pay. All workers would benefit from the expanded insurance coverage. In terms of medical assistance, the bank has formed a group to help employees during their hospitalization.
