At PMLI, we differentiate ourselves with an open, ethical and performance based culture. We are a performance driven organization and we pride ourselves with rewarding talent through principles of meritocracy.
PMLI has competitive financial rewards in line with its philosophy of pay for performance. Our compensation program sharply differentiates pay increases based on performance. In order to ensure that our compensation strategy remains cutting edge and competitive, we not only review our compensation year-on-year but also participate in various compensation and benefits surveys. This includes a syndicated survey with Aon Hewitt which evaluates and assesses all comparator companies in the Life Insurance sector in India, with which we compete for Talent. Almost all of our compensation and benefit decisions are based on well-established market facts, which are an outcome of this benchmarking survey. Annual pay increases are also based on employee performance and market benchmarking, designed to provide fair compensation while also encouraging productivity and self-motivation.
All employees in PMLI have an opportunity to earn Variable Pay i.e Performance Bonus or Sales Incentive. Annual Variable Incentive Program is applicable to all roles in the company that are non-sales, whereas all sales roles have robust programs of Sales Incentive(s), both of which are directly linked to achievement of key business targets.
We at PMLI firmly believe that success is sustainable only when our employees are happy and healthy, which is possible only when they have the time, flexibility and opportunity to balance their personal commitments and obligations alongside their deadlines and deliverables. We understand that there are times when employees need personal time off to handle day-to-day situations like medical appointments, child’s school meeting, etc. That is why we launched our Flexibility at Workplace policy that allows employees to work from home 3 days a month. Additionally, all full time employees can vary their start or finish times up to 2 hours earlier or later from our standard working hours. This lets them sync their schedules with their child’s school drop off, or even give them time to train for a marathon!