During this pandemic, companies have stepped up and truly embraced the concept of a corporate citizen and helped out their employees and other stakeholders in their ecosystem

In a free enterprise, the community is not just another stakeholder in business, but is in fact the very purpose of its existence. Quotes

Jamsetji N Tata, the great Philanthropist and Founder of the Tata group, famously said these words

Truer words have never been said!

For Corporations, finding their purpose means focusing on the core questions: Why do we exist? Why are we here? Whose needs are we here to meet?

The year gone by has changed the ways companies do business. For organisations, the responsibility of 'Giving back to Society' was never more important than today. The current uncertain situation has also profoundly influenced the individual's approach towards the larger purpose of life. Given that employees spend significant part of their days at work, it is apparent that they look up to the employer as the source of purpose.

Though executives talked about the purpose of business before COVID-19, the topic is even more relevant today. There was never a better time to communicate and demonstrate corporate 'purpose' than the last 15 months. For the organisation, employees are just not just stakeholders; but, the very core. Therefore, it is absolutely critical that organisations engage more deeply with their workforce. As a result, we see conscious efforts on the part of the organisation to prioritise employees' physical, emotional, and financial wellbeing.

Many companies stepped up in their own way, guaranteeing job safety and salaries during the lockdown, giving allowances for equipment for the employees to work from home and ensuring provision of safety products such as masks, gloves, sanitisers and PPE kits as required according to the line of business conducted.

While a lot has been said on how millennials are looking to brands and companies to deliver on their purpose beyond profit, this is generally true for all employees. They want to know why they are going to work each day. After all, who would not like to work for a company with a mission and business philosophy that resonates with them intellectually and emotionally? The values of the organization are equally important to establish a deeper connection. As the society we serve is equally important, opportunities offered by organizations towards volunteering and giving back are gaining importance to find the purpose employees are seeking.

Organizations are now moving from engagement to belongingness to immersion, and as HR practitioners, the onus is on us to ensure the crucial alignment between employee purpose and organizational purpose. These include robust diversity and inclusion practices as fundamental essentials of progressive organizations that employees relate to and open and transparent communication is substantially important in today's world. Regular employee connect both horizontally amongst peers and vertically with leadership and teams is clearly the clincher as we move to a hybrid working environment. Companies have undertaken various efforts towards the same as these crucial elements ensure the employees stay with the organization for an extended period while being meaningfully engaged and productive.

Companies have introduced a host of measures to offer holistic wellbeing to their employees and their family members. To protect against the financial and health risks, in addition to existing Group Term and Mediclaim cover, they are offering Covid Kavach policies. Realising the importance of vaccination, facilitating vaccination appointments, paid vaccination leaves, and reimbursing vaccination expenses. They also organize doctor consultations and oxygen concentrators and provide post-COVID care assistance through emotional counselling.

During this pandemic, companies have stepped up and truly embraced the concept of a corporate citizen and helped out their employees and other stakeholders in their ecosystem. Customers, distributors, members of the local community have also benefitted from efforts and donations intended to alleviate their distress.

The pandemic has been a transformative period and has led to many companies re-evaluating their corporate obligations to their employees, the government, the environment, and other stakeholders; and reviving the reason for existence – their purpose.

Over the years, we have seen a direct linkage between employee wellbeing and organisational success. Engaged and delighted employees create an efficient and productive workforce. It's time we involve employees in delivering the corporate purpose to truly make it their purpose and bring meaning to their lives.

(The given article is attributed to Kristyl Bhesania, Executive Vice President and Head – HR, TATA AIA Life Insurance and solely created for BW People)