The second wave of the pandemic is continuing to cause fear, loss, and grief. Our thoughts are with you and your family during this extremely difficult time.
The well-being of our OYOpreneurs is a top priority for us at OYO and we will continue to support you with everything that helps sail through this difficult time. Recently, as a part of Project V, we introduced a few measures, including a 4-day work week for the month of May and ‘No Questions Asked’ flexible off until July. We have also conducted two vaccination camps in Delhi NCR in partnership with Max Healthcare and will soon be conducting more across the country to ensure that you and your families are safely vaccinated against the virus.
Today, we are introducing COVID-19 bereavement support for the families of OYOpreneurs who have lost the battle to COVID. We recognize the unbearable grief, loss, and challenge that comes with the death of a family member. We’re here to lend a helping hand to the families of those impacted.
In the unfortunate event of the death of an OYOpreneur due to COVID-19 we will support the family with:
- 8 months pay in full with an upfront payout of 2 months salary
- Child education support to employee’s children (upto 2) for 5 years
- Extend medical coverage upto 3 lakhs to the family of the deceased, including spouse and children (upto 2) for a period of 5 years
- Term insurance payout equals to three years of the employee’s annual pay
- For RSU/ESOPs options granted to the deceased employee, the liquidation shall vest in their legal heir/nominee and will be provided with an opportunity to liquidate and settle the vested options or exercised shares upon the occurrence of the next liquidity event in line with the ESOP plan 2018
- We’re also aware that in many homes, family members may not have access to a computer or laptop, which is necessary to communicate with banks and other institutions in the unfortunate event of the demise of a family member. To eliminate this roadblock, we will offer a laptop to each impacted family for mitigating any additional stress and financial burden.
We understand the importance of being prepared for adversity. While any loss is irreplaceable, we sincerely hope that this offers you some comfort during this unpredictable time.
We are further extending support to OYO alumni and providing them with access to a slew of COVID-related resources. OYO has opened up COVID-19 related healthcare benefits for its alumni, including access to OYO’s COVID-19 war room, OYO COVID CHAMPIONS – a community of 200+ volunteers across 50+ cities to ensure response and support for verified information on facilities, oxygen supply, medicines, and access to OYO sourced oxygen concentrators and cylinders, among others.