We believe in directing and controlling the business with the overriding objective of optimizing return for the shareholders. The company aims to achieve this by providing long-term visibility of its business, ensuring effective relationship with stakeholders, establishing systems that help the board in understanding risk appetite and monitoring risk at every stage of corporate evolution process.
The biggest assets of the company are our honest, dedicated, diligent, ethical and responsible employees. It is them who have sustained the company for decades and will continue to do so. Welfare of employees and responsibility to improve living conditions and standard of life are at the core of the company’s philosophy. In fact, this is as integral as providing healthy returns to the shareholders. For the employees and their families, the natural resources of SMIORE’s mines are the wealth, while the promoters and management of the company are only their trustees.
We believe that our employees are the most treasured part of the company. A number of schemes and programmes benefit the 3000 + employees of SMIORE. Apart from the statutory welfare amenities to its employees, we offer schemes such as Subsidized Ration Scheme, clothing subsidy, subsidized L.P.G. cylinder, solar hot water system, departmental stores, recreation clubs, tailoring centers for women, transport facilities and allowances for marriages, conveyance or any other personal needs. The employees also benefit from medical schemes, pension plans and other assistance such as housing loans and access to our in-house health center, Arogya. We also support employee children with education at all levels, including scholarships. Housing, electricity, ex gratia funeral expenses and access to the community hall for functions are some of the other ways in which we extend our gratitude to our team.
Food security is given specific priority as part of employee welfare. All employees are given ration cards for monthly supply of essential commodities at highly subsidized rates. A food package sufficient for an average family of 5 for a month is also provided.
Apart from priority to food, clothing, health, medical care and education, there is focus on technical training, food subsidies, housing loans, cash gifts, and electricity, access to medical facilities, festival gifts, education scholarships and financial help for sundry affairs on a case-by-case basis.