OYO announces COVID-19 bereavement support with 8 months salary, 5 years education support for children

COVID-19 second wave: COVID-19 second wave has been devastating for many, which is why OYO has announced a notable initiative in the form of bereavement support. In a series of tweets on Wednesday, OYO founder and Group CEO Ritesh Agarwal announced the company’s decision to support the families of the employees who passed away on account of COVID-19. Their families will be given 8 months’ full pay alongwith term insurance payout that is equal to 3 years of their annual pay and their children’s education will be supported for 5 years as part of OYO’s bereavement support.

Another notable step is that OYO has further extended group coverage to spouses and kids.

With more families being directly impacted and livelihoods undergoing phases of uncertainty for many, there are few brands that have stepped up and taken responsibility for employees by several notches ahead of others.

While we are still grappling with information about the virus and its many variants, the suffering and grief that pervades the nation’s ground reality is one that defies words.

Noting that the ongoing battle against COVID-19 is hardly over, OYO founder and Group CEO Ritesh Agarwal shared his hopes that such initiatives as taken by the company will help ease out the numerous difficulties faced by the bereaved families.

2/For families of OYOpreneurs who have lost their lives due to COVID
????OYO to pay full salaries for 8 months & term insurance payout equal to 3 yrs of their annual pay
????Support the education of their kids for 5 yrs
????Extending group medical coverage to spouse + kids

— Ritesh Agarwal (@riteshagar) May 19, 2021

In another of the many tweets, the founder added that more than 200 OYO volunteers spanning 50 cities are continuing to help the company’s current employees even as OYO is gearing up to extend further round the clock support ranging from oxygen concentrators to medicine supply for OYO alumni and their families.

More efforts will continue to do more to alleviate the sufferings that OYOpreneurs and their families are going through, Agarwal has indicated through the series of tweets that were put out on the micro blogging platform.

The pandemic has also shone light on how companies such as OYO are valuing the untold contributions of their employees and their families amidst the grim reality of tackling the second wave of COVID-19.