Business
Great Place to Work ranks Airtel Lanka among Best Workplaces in Asia
Pushing through the challenges posed through every evolving variant of the globally disruptive coronavirus since last year, Airtel Lanka marked a key milestone, when the youth preferred telco was recognised among the Best Workplaces in Asia – Small and Medium List 2021, by Great Place to Work.
This is the first time that Airtel Lanka was bestowed with this recognition, and is a testament to the company’s efforts for being one of the only telecommunication service providers to push innovation and early-adaption for a new and resilient workplace culture.
The entire process however, does not overlook the essentials and facilities that employees require. In fact, it increases focus on specific employee-centric areas to enable the workforce to be productive in the time they spend working, driven to achieve, and contented in nearly every aspect of their personal lives.
“In times like this, being connected is a key driver in ensuring the wellbeing of our employees. Increasing our engagement with them through innovative digital mediums really gave us the opportunity to support them in an emotional, physical and financial sense,” noted Bharti Airtel Lanka CEO Ashish Chandra.
According to Airtel Lanka’s Head of Human Resources Kanishka Ranaweera, for most organisations, much like Airtel, there are four key areas they should increase focus on.
Firstly, an increase focus on improving employee wellbeing, not only are they protected from the threat of the pandemic but also supported in their emotional, physical and financial wellbeing.
Secondly, the adaption to ‘Work from Home’. The WFH culture started as a novel alternative to physically going to work, but after a whole year, it’s evolved into a way of life.
Third, encouraging a comfortable and flexible working lifestyle. Employees can put in their own working hours and work when it is most suitable to them. We don’t monitor employees, rather trust them for a timely delivery.
Last, utilising effective tools and platforms for employee skills development. Organisations have witnessed platforms and digital tools rapidly improve and become more adaptable to employees and this was also the case for us.
“Focusing on these four areas is what gave us an edge over the competition. Implementing this train of change before the first lockdown even came into effect last year, helped the adaption process become more quick and efficient. So, our culture has become more collaborative and empathetic, making our workforce more equipped to handle even a higher demand,” commented Kanishka.
On top of the key focus areas, Airtel’s success is attributed to two main factors- the level of trust placed in employees and how they embraced and adapted to the new normal. “Humans thrive on good relationships and trust, and our approach towards our employees reflects the same,” he added.
Equipped with strategic business continuity plans, Airtel Lanka also emphasises on elevating the sense of security and safety among employees. They are provided with everything, from necessary personal protective equipment, to access to quality healthcare for preferential treatments, insurance covers for COVID-related testing and consultancy through oDoc, free-of-charge.
Also, in the unfortunate event that an employee tests positive for the coronavirus, the telco ensures paid leave and family support during that period.
“We also made it a point to enhance our engagement with our employees. Always being connected through new and innovative digital mediums, engaging through virtual games that are fun and helpful in development, and even hosting traditional events and competitions online, from Bakthi Gee and Carols to Art Competitions for the whole family to be a part of,” Kanishka said.
“Even on the corporate level, after realising the importance of increasing and improving communications, the CEO Connect and HR Connect sessions were birthed.”
For the telco, the return of all the investing and care for its employees is a very satisfied customer base. Airtel Lanka’s engagement scores have improved drastically, with attrition at an all-time low. With satisfied employees taking the organisation to new heights in the new normal, the telco commits to continuously innovating and enabling its workforce, proving indeed to be a great place to work for all.
Business
Political risks to Sri Lanka’s debt restructuring agreement recede: Fitch Ratings
Fitch Ratings Hong Kong says that the Sri Lankan authorities’ confirmation that they endorse the targets set under the country’s IMF programme, and intend to implement debt restructuring based on the terms agreed with international sovereign bondholders in September, reduces risks to the debt treatment process associated with the outcome of the presidential election on 21 September.
The election of Anura Kumara Dissanayake, of the opposition Janatha Vimukthi Peramuna (JVP), as president in September had increased policy uncertainty, raising the risk that the government could launch challenges to key elements of the IMF programme, potentially delaying Sri Lanka’s foreign currency debt restructuring. However, the Ministry of Finance announced on 4 October that consultations with the IMF and Sri Lanka’s Official Credit Committee had been successfully concluded, suggesting that any policy changes are unlikely to threaten the IMF programme or the debt treatment agreement-in principle reached under the previous administration.
The Ministry also indicated that the consultation had agreed that the preliminary agreement adhered to the principle of comparability of treatment between official creditors and bondholders, and was compatible with the IMF programme’s terms.
” We view this as a positive sign for the restructuring process’s prospects. Fitch has rated Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘RD’ (Restricted Default) since May 2022, and the government is not currently servicing its foreign-currency debt. We may move the IDR out of ‘RD’ upon the sovereign’s completion of a commercial debt restructuring that we judge to have normalised the relationship with the international financial community. Sri Lanka’s postdefault rating would depend upon our assessment of its credit profile. Fitch upgraded Sri Lanka’s LongTerm Local-Currency IDR to ‘CCC-‘ in September 2023, reflecting the completion of the local-currency portion of Sri Lanka’s domestic debt optimisation plan. We expect Sri Lanka’s government debt to remain relatively high, even if debt restructuring is completed successfully along the lines laid out in the agreements with its creditors,” Fitch says.
“The IMF forecasts Sri Lanka’s gross general government debt/GDP ratio to decline only gradually to about 103% of GDP by 2028, from about 116% in 2022, after building in a local- and foreign-currency debt restructuring. The government’s revenue/GDP ratio remains low, but the effects of several revenue-raising measures passed since May 2022 are beginning to be felt. Revenue collection in 7M24 rose by about 43% yoy, well above the nominal GDP growth rate of 9.5% in 1H24. Our baseline projections assume an increase in revenue/GDP, from 11.4% in 2023 to 15.5% in 2026, reflecting the measures already in place. However, these forecasts could be affected, if the new government introduces fiscal reforms. The IMF programme’s targets offer some flexibility for changes in the government’s fiscal policy approach.
‘The president’s capacity to push through policy changes may depend partly on the outcome of the parliamentary election on 14 November. The JVP and its allies had relatively few seats in the outgoing legislature, though the trends evident in the recent presidential election suggest that there will probably be large changes in the make-up of the new chamber.
‘The economy more broadly remains on a recovering trend. Real GDP growth was 5.0% yoy in 1H24, after contracting by 7.3% during 1H23. We expect the economy to expand by 3.9% in 2024 and to average growth of 3.6% over 2025-2026. External liquidity stresses have also eased, with foreign-exchange reserves hitting USD6.0 billion in August 2024, up almost 66% yoy. Nevertheless, the speed of the recovery in reserves is likely to be set back when Sri Lanka resumes external debt-service payments,” Fitch notes.
Business
Rotary fights breast cancer with NCCP through early detection and prevention
October is Breast Cancer Awareness Month—a time to come together not only to acknowledge a disease that affects millions but to celebrate the resilience of women and the power of early detection to save lives.With a long-standing partnership of 20 years with the National Cancer Control Programme, Rotary Club of Colombo members came out in their numbers to create awareness and joined the recent NCCP Breast Cancer Awareness Walk on October 2nd.
It is a time to reaffirm our collective responsibility toward the well-being of our mothers, sisters and daughters and those thousands of women who may one day be struck down by this disease if not detected early.
Rotary has been a beacon of hope in the fight against breast cancer, working hand-in-hand with the Ministry of Health for 20 years since 2004. This partnership with the National Cancer Control Programme has been instrumental in addressing breast cancer, which remains the leading cause of death among women aged 40 to 55 years.
Rotary’s journey began 20 years ago with the sole focus on screening and early detection and prevention to fight the rising incidence of cancer. Together with NCCP they set up a dedicated Cancer Screening and Early Detection Centre focused on breast cancer, first in Colombo and then extended to other cities to ensure no woman is left behind. These regional Breast Cancer Early Detection Clinics will bring lifesaving services closer to those who need them most.
Rotary Club of Colombo has led the way in the screening and early detection of breast cancer and invested in state-of-the-art technology at the main Cancer Early Detection Centre in Narahenpita run by NCCP, including installing a 3D tomosynthesis Digital Mammography Machine. This machine provides highly accurate screenings for breast cancer, five days a week, entirely free of charge. This represents Rotary’s unwavering commitment to ensuring early detection, which is key to improving breast cancer survival rates.
Rotary Club of Colombo was also a pioneer in introducing HPV DNA testing at the Centre for cervical cancer screening —an initiative that highlights their approach to tackling women’s cancers holistically.
Business
Pepsi® unveils its new logo with street art murals in Sri Lanka
Honouring its 125 years long legacy, Pepsi®, a brand that has been at the center of global pop culture, unveiled its new identity in Sri Lanka through its groundbreaking campaign, ‘Pepsi® Street Kala’. The ‘Pepsi® Street Kala’ campaign represents a groundbreaking moment for the brand, introducing its revamped brand identity through public art for the first time globally. With 17 murals featured across the country, this initiative is an attempt to democratize art through dynamic experiences that invite public interaction and make art and culture more accessible.
Pepsi® celebrated this milestone with a spectacular launch event at the iconic Lotus Tower – South Asia’s tallest self-supported tower. The event brought its bold identity to life through immersive experiences, captivating the audience from start to finish. Media, influencers and individuals from the art community in Sri Lanka enjoyed a sensory feast, with the aura of Pepsi® resonating throughout, showcasing the brand’s vibrant spirit. The highlight of the evening was the illumination of the Lotus Tower in Colombo with Pepsi®’s new bold colors, transforming the city’s skyline.
Speaking on the launch, Anuj Goyal, Associate Director, Area-Countries Region, PepsiCo said, “Pepsi has consistently been at the forefront of youth culture and with this initiative, we are extending that dedication to the streets of Sri Lanka. The new Pepsi logo represents a bold new chapter for Pepsi, bringing it to life through street art with the ‘Pepsi® Street Kala’ campaign – enabling us to expand the horizons of visual narrative. The grand launch event, including the striking projection of our brand colors at the iconic Lotus Tower and the murals altogether, are a celebration of youth, creativity, and the spirit of Pepsi.”
Also commenting on the launch, Sandeep Kumar, Country Head at Varun Beverages Limited (VBL) – Sri Lanka also added, “We are excited to bring the ‘Pepsi® Street Kala’ campaign to life in Sri Lanka, showcasing the refreshed brand identity of Pepsi. This campaign and today’s event celebrates creativity, culture, and the unbreakable bond Pepsi shares with the people of Sri Lanka. We’re proud to be part of this milestone that reflects the vibrant energy of the Pepsi consumers, while integrating public art experiences in their routine commute.”
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