Mahindra & Mahindra set industry standards with innovative pricing strategies and pioneering women-centric workplace policies, marking a new era in automotive business practices.
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Price Revamp Amidst Festive Season Demand
Mumbai, India – With the festive season ushering in heightened demand, the automobile industry is seeing a tide of change.
Mahindra & Mahindra Limited (M&M), a prominent figure in India’s automobile history since 1945, has announced a price increase for some of its most sought-after models.
The Mumbai-based giant has adjusted the prices of its cherished vehicles – Thar, Scorpio, XUV 300, and XUV 700, with an increase of up to Rs 81,000.
In a ripple effect, industry stalwarts like South Korea’s Kia and others, including Hyundai and Honda, have followed M&M’s lead.
Kia’s SUV Seltos and the versatile Carens will now see a price surge of up to Rs 50,000.
As explained by the manufacturers, this price restructuring stems from a rise in input costs from the previous year.
While companies initially shouldered these increased costs, the enduring demand, evidenced by waiting lists for some models, has led to a price revision.
Groundbreaking Employee Policy for Women at M&M
It is more than just the roads where M&M is setting the pace.
The company is breaking barriers with its innovative policies in boardrooms and office spaces, especially concerning its women employees.
A shining testament to their commitment to gender diversity is the recent introduction of a five-year “career reassuring and flexibility” policy.
Tailored to support women through the myriad stages of motherhood, this policy positions M&M as a forerunner in championing workplace diversity.
The policy’s timeline is as comprehensive as its vision – offering support a year leading to childbirth, during the maternity year, and for three subsequent years.
It underscores M&M’s resolve to enable women to harmonize their familial responsibilities without sidelining their career aspirations.
Ruzbeh Irani, the group HR president at Mahindra Group, elaborated on the policy, emphasizing the company’s aim to provide a well-rounded support system for five years.
The policy’s hallmark is the unprecedented three-year post-childbirth support.
It offers a flexible six-month work arrangement, succeeded by a 24-month hybrid work model.
Moreover, for critical overnight business trips, female employees can travel with their infants and a caregiver, ensuring they are not forced to choose between work commitments and motherhood.
With women constituting 8% of M&M’s workforce, this initiative aims to boost the appeal for potential female talent.
Comparatively, as highlighted by a study from ‘Avtar & Seramount,’ M&M’s progressive stance outshines many existing policies in the manufacturing domain.
Industry influencer Saundarya Rajesh, founder-president of Avtar Group, lauds M&M’s trailblazing initiative, believing it could redefine the manufacturing sector’s outlook towards female professionals.
Inspired by such pioneering moves, corporate giants like Tata Sons are recalibrating their policies to be more women-friendly.
In today’s dynamic business environment, M&M’s dedication to transparent pricing and holistic employee welfare cements its industry leadership and stands as a beacon for other corporations to emulate.