MITRA INNOVATION | LMD

Proclaims USD-pegged Sri Lankan salaries to assist the monetary wellness of staff

Colombo, March21, 2022 – Mitra Innovation, which celebrates its tenth 12 months in enterprise this 12 months, rolled out a USD pegged wage scheme as one among its key monetary wellness initiatives for all staff in Sri Lanka initially of 2022, the corporate introduced.

The Firm attributes its super development to its market differentiated providers and powerful deal with its individuals – a price that the corporate has continued to foster since its inception in March 2012. The choice to implement a USD pegged wage scheme comes from an understanding that employers want to seek out inventive methods to make sure the monetary wellness of their groups. In a great state of affairs with a great financial system, employers want comfortable, wholesome and expert staff, whereas staff anticipate nice alternatives, profession development and a great supply of revenue. Nonetheless, when confronted with an financial disaster, it’s vital to discover totally different and modern methods to uphold worker wellness.

“At the beginning of this 12 months, upon cautious consideration, the Board of Mitra Innovation made a swift determination to peg all salaries to the USD efficient Q1 2022.” acknowledged Chinthi Weerasinghe, Chief Government Officer, Mitra Innovation.

Moreover, the World Management Workforce acknowledged that this determination was taken in the perfect pursuits of their staff in Sri Lanka, contemplating how greatest to assist the present workforce, given the present financial atmosphere within the nation.

“With this rollout, all staff of Mitra Innovation SL will obtain a remuneration package deal that proportionally will increase in worth because the USD appreciates in opposition to the Sri Lankan Rupee.” added Sanjeev Palihawadana, Chief Working Officer at Mitra Innovation.

Analysis exhibits that monetary wellness packages can enhance worker satisfaction and assist scale back worker stress.  Whereas the corporate’s ‘hyper development’ gives its staff with nice alternatives, lowered monetary stress is essential to retaining staff and to cut back mind drain, particularly throughout making an attempt financial instances.

Mitra Innovation, which grew its high line and backside line exponentially in FY2021, elevated its international headcount from 180 to 300 throughout the identical interval, with a lot of the additions being recorded in Sri Lanka, the place its foremost software program growth centre is situated.

As the corporate continues with trade main development this 12 months and expands its international presence, the variety of alternatives it creates for abroad employment can even enhance exponentially. In line with the Individuals First mantra within the firm, Mitra prefers to provide alternatives to its workforce members first, earlier than in search of exterior choices, by way of the ‘Develop With Us’ initiative.