Thursday, March 30, 2023

MMBL Makes Massive Policy Changes to Financially Empower Employees amidst Inflation

Mobilink Microfinance Bank Limited (MMBL) said that empowering all of its contract employees may get given full-time jobs (FTEs). The new program will gradually change contract employees into permanent workers. Giving them and their families access to health insurance benefits.

Changes to the FTE policy show that MMBL cares about its employees’ financial security.

As part of this project, the bank gives full-time jobs to more than 500 contract workers. Contract employees are likely to choose from a variety of insurance plans and a pay continuation plan.

MMBL is a reliable company because empowers its employees and wants to make sure they are did take care of. The Bank will continue to give the employee’s dependents their monthly stipend for three years after the employee’s untimely death.

All employees are going to get a higher out-of-pocket medical expense allowance starting in January 2023. (OPD). With the way the economy is right now, the medical OPD allowance will help workers increase their monthly payments and deal with rising medical costs.

Along with these new benefits, employees whose monthly income is less than PKR 50,000 will also get a raise. These changes are the first of their kind in business, and they will serve as examples in the future.

“The changes to the FTE policy couldn’t have come at a better time. As rising inflation has made it harder for everyone to buy things,” said Ghazanfar Azzam, President and Chief Executive Officer of MMBL. The Bank is aware of the problems its employees face and does everything. It can help them meet their financial obligations without giving up their savings.

He said, “This project shows that MMBL is keen to ensure that its staff. As well as its clients and communities can get the money they need.”

“MMBL does know as an Employer of Choice because it gives its most valuable asset, its employees, the power to make decisions,” said Muhammad Haroon Khan, MMBL’s Chief People Officer.

Read more: India has posted the most anti-Muslim tweets worldwide

He also said, “The recent changes we’ve done make to our People & Organization Policy show that we want to keep our staff happy and loyal by giving them the best in the business. Whether that’s in terms of salary, perks, or culture.”

In 2021, MMBL used a lot of growth, and the Association of Certified Public Accountants approved the company as an “Approved Employer”. Because it cares about the professional and personal growth of its employees (ACCA).

To give its employees the best possible working conditions. The Bank puts a lot of emphasis on promoting a positive work culture, increasing diversity, and also making sure everyone is doing treat the same.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Inline Feedbacks
View all comments
Latest news
Would love your thoughts, please comment.x