Equitas specialises in providing loans to small entrepreneurs. Based in Chennai, southern India, it lends money to three million microfinance customers across 12 Indian states.
Equitas currently employs 7,000 staff. The company prides itself on being a responsible employer. It has introduced benefits and policies that are aimed at supporting all aspects of its employees’ lives.
"Our approach to employees has always been to look at them as a whole person and not only as a resource. It’s about engaging their body, mind, heart and spirit. All our human resources benefits and policies have been designed to touch one or more of these four aspects of employees. That’s been the process right from day one."
How CDC supports Equitas
Since 2013, CDC has invested US$22 million in Equitas. The investment has helped the company to grow. Direct employees at Equitas have increased from over 3,400 employees just before investment to 7,000 employees today.
CDC, by nature, is a long-term investor which really looks into the value that it can add in the long term to a country’s economy… CDC has been really supportive of us.
How Equitas supports good quality jobs
Equitas offers a range of benefits for its staff. These benefits include generous medical insurance, a stock option scheme open to all employees, initial and ongoing training, and even a day’s leave for staff to celebrate their wedding anniversary.
Priya is a customer support officer at Equitas. Based in a small branch office in Chennai, Equitas promoted Priya to her current role.
She joined Equitas because she wanted to support women entrepreneurs. Many women living in her local area had benefitted from receiving a loan from Equitas, and this made her interested in working for the company.
Priya is pleased with the job’s benefits – in particular, the leave offered to employees for wedding anniversaries, and the health insurance. She likes the fact that the health insurance offered by Equitas covers not just employees, but their extended families too.
"The health card is a useful thing. If we get ill, we can use this card. I have experienced this benefit, as when my husband was sick, we received 100,000 rupees (US$1500) from Equitas. That was something I was very grateful for."
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