"We Do Not Bifurcate Opportunities Based On Gender," Sharad K Sharma

In today's fiercely competitive and ever-evolving work landscape, the emphasis on inclusion and diversity has reached unprecedented levels. Pramerica Life Insurance is deeply committed to fostering a culture of diversity and inclusion, with a particular focus on empowerment. Under the leadership of Sharad K Sharma, Chief Human Resources & Ethics Officer, Pramerica Life Insurance., the company has implemented several impactful initiatives aimed at creating an equitable workplace where everyone can thrive.

1.    Can you share the vision behind Pramerica Life Insurance’s commitment to diversity and inclusion?

At Pramerica Life Insurance, our commitment to diversity and inclusion stems from our belief that a diverse workforce drives innovation and success. We understand that when individuals with different backgrounds, perspectives and experiences come together, it creates an environment that fosters creativity, problem-solving, and growth.

Our hiring practices reflects this vision. 
1.    We use gender-neutral language in job descriptions and actively source candidates from diverse backgrounds. 
2.    We also prioritize internal movements through our Internal Job Posting system, ensuring that all employees, regardless of race, gender, or other characteristics, have equal opportunities to grow and succeed.

Over the past two years, we’ve made significant strides in gender diversity, improving women representation from 20% to 27%. Our vision is to continue fostering a culture where diversity is embraced and inclusion is lived every day, knowing that it is key to driving sustainable success for our people and our business

2.    How do the maternity and adoption benefits at Pramerica Life Insurance compare to industry standards? What has been the response from employees for the menstrual hygiene initiative?

Pramerica Life Insurance supports its female colleagues with maternity and adoption benefits as per industry standards. 
⦁    Female employees receive 182 days of paid maternity leave and 12 weeks of adoption leave. 
⦁    Options for extended maternity & Adoption leave and flexible work schedules to empower women to balance their professional responsibilities with motherhood without compromising their career growth. 
⦁    Comprehensive health coverage for both mother and child.

To support menstrual hygiene and well-being, we have implemented an initiative at corporate office that provides sanitary napkins in all our washrooms. This ensures that our female employees have easy access to these essential products whenever they need them. Additionally, we also organize regular awareness workshops for our female colleagues. These workshops cover important topics related to menstrual health and create a supportive environment where employees can discuss their needs and concerns.
The initial response to these workshops has been very positive and encouraging. We have seen participation from over 150 women colleagues, which shows a strong interest and need for such programs. Given this enthusiastic response, we are planning to organize more interactions and workshops in the future to continue supporting and educating our female employees on this important aspect. Our goal is to create an open and supportive environment where women feel comfortable discussing and managing their menstrual health.

3.    Can you discuss the measures taken to ensure a safe work environment, particularly in adherence to the POSH Act?

At Pramerica Life, ensuring a safe work environment is our top priority. With a commitment to provide a safe and respectful work environment for all employees, we enforce policies that prioritize the safety and well-being of our women employees, including:

⦁    No late stays beyond 8 pm
⦁    Providing safe drop facilities
⦁    Detailed information posted on the office notice boards, including the names and contact numbers of Internal Committee members

We strictly follow the Prevention of Sexual Harassment (POSH) Act, which is designed to protect female employees from sexual harassment at the workplace. This law ensures that everyone has the right to work in an environment free from harassment. There are regular refresher training conducted for the Internal Committee members to reinforce awareness and a zero-tolerance policy towards harassment to ensure a respectful workplace culture.

4.    What inspired the creation of the SheShines Initiative and what has been the impact?

At Pramerica Life, we value the contributions and hard work of our women workforce and the success that they bring to the table. The genesis of the ‘SheShines’ initiative comes from the understanding that supporting women in the workplace leads to greater job satisfaction and better business outcomes. This initiative works as a platform for open communication and empowerment for our women colleagues. Under this, we organize hi-tea/breakfast sessions with our CEO, where women employees engage in: 
⦁    Candid discussions on career-related topics
⦁    Share inspiring stories
⦁    Gain insights from leadership to help them overcome challenges
This provides a platform empowering woman to seize growth opportunities. Since it’s inception in March 2024, over 133 women colleagues have had the opportunity to meet with our CEO.

5.    How have the SheStrong & SheSavvy sessions contributed to the overall well-being of female employees at Pramerica Life Insurance?

The SheStrong and SheSavvy sessions are integral components of the SheShines Initiative, focusing on the physical and financial well-being of female employees at Pramerica Life Insurance. These sessions cover topics such as women’s health, financial planning, and investment strategies. By providing expert-led discussions and practical advice, these programs empower women to make informed decisions about their health and finances, contributing to their overall well-being. 
We keep organising knowledge sessions under these initiatives. For instance, on the occasion of Women’s Day, two special talks were organised for our female employees. One featured a renowned gynecologist who spoke about important health topics such as female health, PCOS and menstrual hygiene. The other session was led by a Securities market trainer who discussed the importance of savings and tax schemes for women.

6.    Can you tell us more about the Second Career Program and its success in reintegrating women returning from sabbaticals?

Ans. The Second Career Program at Pramerica Life Insurance is designed to support women returning to the workforce after a sabbatical. We believe in breaking the career break and encouraging and welcoming women to reignite their careers and join us in our second career program for both sales and non-sales roles. 
The program has been successful in attracting talented women who were on career breaks and providing them with opportunities to contribute to the company's growth. In a recent event, we welcomed a female employee back to our finance team after a 9-year sabbatical. Her return to the workforce highlights our commitment to supporting our women workforce in balancing their personal and professional lives and providing opportunities for them to reintegrate into their careers whenever they are ready.

7.    Pramerica Life has achieved a notable increase in gender diversity, with women now comprising 26% of the workforce. What strategies have been most effective in achieving this growth and what steps are you planning to take to further enhance diversity and inclusion, particularly in leadership roles?

Pramerica Life Insurance has implemented several strategies to enhance gender diversity, resulting in women comprising 27% of the workforce. Targeted recruitment initiatives, employee referral programs, leadership development programs for women and initiatives like SheShines have been particularly effective in attracting and retaining talented women. We are proud of the progress made so far. 
Women now hold key roles, making up 15% of our total leadership team. From our Officiating CFO to our Chief Compliance Officer, Renewals Head and Company Secretary, we have women leaders that exemplify excellence and contribute significantly to our success.

As we look ahead, we remain committed to further advancing diversity and inclusion. However, it’s important to note that at Pramerica Life, we do not bifurcate opportunities based on gender. We are an equal-opportunity employer, and our focus is on competency-based merit. Every individual, regardless of gender, has a seat at the table, their voice is heard, and their contributions are valued. Our objective is to continue fostering an environment where diverse talent can thrive, innovate, and drive the company toward sustainable growth.