Empowering staff members to save for future
20 November, 2021, 6:15 pm
A Memorandum of agreement signed between the Motibhai Group and the Unit Trust of Fiji (UTOF) will see them work closely with UTOF in empowering their employees to save and invest for their future.
A joint statement from the two organisations said the Motibhai Group which had 950 staff members, had increased UTOF’s national EIS accessibility to more than 23,000 employees from across the multi-sector industries.
This makes the Motibhai Group the 62nd employer to register under the UTOF’s Employer Investment Scheme. Motibhai Group chairman and chief executive officer Kirit Patel thanked UTOF and said that he was very supportive of this partnership as he himself was a unit holder in UTOF.
He concluded saying that for the successful growth of any organisation, it was vital to take a step forward to encourage employees to be financially empowered.
UTOF chief executive officer Vilash Chand said the dynamics of being just an employer embodied a deeper understanding with the employees. Motibhai Group inclusion in the EIS program is exemplary of firm leadership and workforce engagement.
The EIS is a voluntary investment scheme that has been incentivised to financially empower the Fijian workforce.
Motibhai Group administration manager Sanjay Kumar said this year marked Motibhai Group’s 90 years of milestone and they were proud to provide an additional benefit to the group employees which was in line with their wellness program and financial wellbeing of the employees and their family.
“This was a perfect time to give an opportunity to our employees and help them in looking ahead and repositioning their financial efforts and expectations for the current reality,” he said.
Mr Kumar said the welfare and the future of their employees was always a priority, the scheme will essentially provide a platform for their employees to regularly invest their funds, through a salary direct deduction arrangement.