Initiatives taken by Credit Suisse India as part of its CSR program
At Credit Suisse, our corporate citizenship strategy is to build a more inclusive future where all people can access the required resources to enable them to develop the financial, entrepreneurial and other skills needed to thrive in today’s economy and society. We do this by focusing on the key strategic areas of Future Skills (Entrepreneurship & Skills Development), Education (Financial Education, Primary and Secondary Education) and Financial Inclusion.
Our India philanthropy initiatives also focus on the environment as well as broader community development projects, adapted to the needs of local communities.
A core part of our strategy is to closely partner with the social organizations we support, to help them build their capacity by leveraging the energy and skills of our staff. The enthusiasm and commitment of our staff to volunteer with our partners is a strong cornerstone of the impact we are able to make as an organization. We try to give employees across all levels an opportunity to make a meaningful difference in communities as an important part of their Credit Suisse journey.
Elaborate on the essentials of your partnership with the PanIIT Alumni Foundation?
Credit Suisse’s partnership with the PanIIT Alumni Reach for India Foundation (PARFI) promotes skills development, a key pillar of our CSR efforts. Through the partnership, we will be able to benefit 12,500 family members from underserved backgrounds with training provided to the main breadwinners in various fields, to equip them with the necessary skills that will enhance their chances of employability. A two to three-month training program is offered in the fields of construction, infrastructure, textiles, logistics and manufacturing, with longer-term training courses offered in nursing, manufacturing and the culinary arts. Following the completion of the training, the foundation provides assured job placements.
How will Credit Suisse’s partnership with PanIIT Alumni Foundation help migrant workers?
Through the collaboration with PanIIT Alumni Foundation, we support young individuals and migrant workers in getting assured job placements and ensure that they receive regular minimum wages, overtime and others benefits such as Provident Fund / ESI and Accidental insurance, and a decent accommodation on site, as relevant. Around 2,250 below the poverty line (BPL) migrant workers from under-developed states across India have so far received assistance through the program over a period of three years.
How many people have been employed and lives impacted till date with this partnership and initiatives?
During the past two years of our association with PARFI, Credit Suisse has helped to place 1,500 candidates across sectors such as construction, textiles, manufacturing and logistics. The demographics of the candidates placed are as follows: 53% / 47% male to female ratio and an average monthly salary of INR 15,000; they hail from the states of Maharashtra, Karnataka, Tamil Nadu, Telangana, Bihar and Delhi NCR. With these placements, we have benefitted around 7,500 family members, and expect to be able to support an additional 750 migrant workers – or approximately 4,000 family members benefitted – in the current financial year amidst Covid-19.
Any final thoughts?
Supporting organizations like PanIIT Alumni Reach for India Foundation that are committed to providing skill development and assured job placements to migrant workers is the need of the hour. The impact of Covid-19 on migrant workers and their livelihoods has been profound, and this has further highlighted the need for more such initiatives that provide long-term benefit to these workers. At Credit Suisse, we have a long history of commitment to supporting such valuable initiatives.