With the rise in the COVID-19 cases in India, OYO has come up with measures that help aid their employees, oyoprenurs and Alumni. In the past months of the situation, they had come up with “Project V” which gave the employees 3 non-working days a week for the month of May, vaccination camps where 500 plus families of OYOpreneurs have been vaccinated and more.
As of for the month of May, the company announced they will be providing COVID-19 bereavement support for the families of OYOpreneurs who have lost the battle to COVID.
In the unfortunate event of the death of an OYOpreneur due to COVID the company has given a statement that they will support the family with an 8 months’ pay in full with an upfront payout of 2 months’ salary and a term insurance payout which equals three years of their annual pay.
The company is to also extend the medical coverage to the family of the deceased bearing a spouse and children for a period of 5 years. Support the Childs education for 5 years.
The legal heir/nominee of the deceased and will be provided with an opportunity to liquidate and settle the vested options or exercised in the next liquidity event. Also providing them with Laptops to make it easier for them to communicate with Banks.
They have also have provided additional support and resources by giving their alumni acess to OYO’s COVID-19 war room, OYO COVID CHAMPIONS – a community of volunteers widespread to ensure response and support for verified information on facilities, oxygen supply, medicines, and to OYO sourced oxygen concentrators and cylinders, among others.
Ritesh Agarwal, Founder & Group CEO, OYO also stated that, “COVID-19’s second wave has been devastating for many. During this time, the well-being of OYOpreneurs and their families is our utmost priority. Unfortunately, some of our colleagues have lost their battle with COVID-19 and we hope that our bereavement support will help their kin in this difficult time. We are further extending COVID support and resources to our OYO alumni, till the pandemic persists. We want to do more, not just for OYOpreneurs, but also for our extended OYO family. We are all safe only when each one of us is safe.”
The company aims and is on its way to set up more camps for its employees across the country for the welfare of its employees and everyone a part of its brand.