Today, work and life blend into each other like never before. Employees who believe that management is concerned about them as a whole person - not just an employee - are more productive and satisfied. So employers need to rethink the experiences they create for their employees at the workplace and outside of it. According to Metlife, 76% of employees and 81% of employers say that when work and life enrich each other, everybody wins.
One of the ways Axelerant expresses its concern towards their employees’ well-being is by regularly tweaking employee benefits. Here, we’ve not only detailed out the benefits offered by Axelerant but also discussed the modifications to these benefits over a while. Why modifications? Because it can’t be denied that employee benefits designed keeping in mind what majority employees ask for will undoubtedly help retain the best talent out there.
Some Basic Benefits
Competitive Salaries: We’re paying competitively based on skills and experience. Industry salaries are monitored annually.
Consolidated (Regular) Leave: All team members are eligible for 35 days consolidated leave effective immediately from their start date.
Maternity Leave: The paid period for which any woman shall be entitled to maternity benefit is for twenty-six weeks in India and sixteen weeks, elsewhere.
Referrals: Axelerant will pay 2% of the annual gross salary of a referred person permanently hired.
Extremely Flexible Work Hours. Etc. Etc.
You aren’t interested in reading about these primary benefits, are you? Your current company probably provides all of these. But as mentioned earlier, these are just the basics, the most common, or the mandated benefits. Now, we move on to the most appreciated, team-wide surveyed and accordingly ranked benefits at Axelerant.
#1 BYOD (Bring Your Own Device) Assistance
We’ll cover 50% of the purchase & repair costs for laptops & mobile devices. 9 out of 10 employees take advantage of this benefit.
When BYOD allowance was first introduced, costs up to only 20,000 INR were covered. With popular demand and positive outcomes, the costs covered were first raised to 30,000 INR and then 50,000 INR.
Now, the price limit has been removed entirely. This means, for example, that if you decide that a device worth 2,00,000 INR will help you excel, Axelerant will pay 50% of the costs i.e., 1,00,000 INR. If you don’t have the remaining 1,00,000 INR, Axelerant will also lend you a no-cost EMI loan. The loan will be for a 12-month period, with equal monthly payments. You can then be a proud owner of the best machines in the market without spending a single penny to start with.
Plus, every employee is eligible to change the device every three years. And we're considering including secondary devices under BYOD, like another laptop or tablet.
When can you avail the BYOD benefit? The moment you sign our offer letter! Yes! We want our employees to be ready with their machines before their start date with Axelerant or at least within the first week of induction.
A substandard device is not acceptable. An employee needs to be on leave until they have a device that meets the requirements.
Hussain Abbas, Engineering Manager
#2 Insurance For Family Members
We provide medical insurance cover for all team members and their immediate family, inclusive of parents.
Companies do provide a group or corporate insurance policy which covers mostly only the employee or in some cases, the employee and the spouse. Employees have to pay an additional amount to register their parents under the insurance cover. And paying this extra premium for parents is not easily possible for every employee because more the age, the higher the premium.
Initially, Axelerant’s insurance policy also covered just the person and the dependents. Parents were not included, but many employees made that request. It mattered to our people, so we did it. Today, the medical insurance cover at Axelerant, covers the employee, the spouse, up to two kids and parents. The insurance of 200,000 INR is allocated between the team member and their family for a year. It’s standard for every employee at Axelerant. Plus, a maternity benefit of up to 50,000 INR for first two children is also covered. The management is also hoping to increase the benefits of insurance this year.
#3 Annual Continuing Education Allowance
Every department at Axelerant has a set of mandatory certifications to be acquired by team members. For example, the mandatory certifications for Drupal developers include certifications from Acquia up to Advanced Level Test Manager.
DevOps engineers are encouraged to be AWS certified, and Project Managers are supported to be Project Management Professional (PMI - PMP) certified. Plus, software subscription reimbursements are also covered under this benefit.
This benefit empowered our Life Coach, Mridulla Harshvardhan, to get trained into different training modalities such as NLP Practitioner and Masters, As Advanced Life Coach and be Heal Your life Internationally licensed Teacher.
Employees also buy industry-relevant books of their choice under this benefit. Mentors, managers, and the Life Coach always push people to enhance their skills, and this benefit proves to be a perfect aid. Different departments have organically formed their book clubs. All the books you can read: we pay!
#4 Monthly Co-working Stipend & Home Office Setup
Axelerant will pay up to INR 8000/USD 200 monthly towards renting a co-working space.
We will reimburse one-time purchases of INR 30000/USD 400 needed to create a comfortable work environment within your existing home structure.
With a distributed team relishing the remote work culture, the space our employees call their office matters to us. And so we contribute to helping our employees be comfortable in their offices. Some employees prefer to be at home with their family. Some prefer a cafe whereas some prefer a co-working space for extra calmness when working. Whatever your choice, Axelerant supports you by providing either the monthly co-working stipend or the home office setup assistance. 8 out of 10 new employees are availing the home office setup assistance benefit.
#5 Health And Wellness Allowance
A remote work culture, when done wrong, may cause lethargy. Employees tend to eat, sleep, drink, and work from their bed, causing them to gain weight and eventually feel dull due to lack of physical activity. In most cases, this also hampers the employee’s productivity.
The monthly fitness allowance was introduced to push our employees to take good care of their health and not be lethargic. Axelerant will pay up to INR 12000/USD 300 annually for your gym membership, yoga studio membership or whatever activity you do to stay in shape.
#6 Event Sponsorship
Employees submit their sessions to various Drupal Camps and other relevant events all across the globe. Upon acceptance of sessions, the event sponsorship committee reviews your request. If approved, Axelerant covers domestic and international conference attending costs. We have a very high approval rating. 9/10 if your talk gets accepted, you get to go - all expenses paid.
Well, this benefit isn’t exactly unique to Axelerant but what’s exclusive to Axelerant is the way our mentors and managers push their team members to actively look for conferences and events to attend each year that will benefit their work.
Our Director of Marketing, Nathan Roach, finds this benefit to be the most beneficial because event sponsorship means that he gets to learn and engage with others in the broader community. He can share, spread awareness of our brand. And he firmly believes that there's nothing like on the ground evangelization. It's fun and rewarding.
Why Isn’t Remote Work Mentioned in the List?
Well, because remote work isn’t a benefit, it’s our culture. That’s how every employee at Axelerant works. All you need is an Internet connection, and you can work from anywhere that suits you. Rather than wasting countless hours and valuable energy commuting to and from work, remote working enables our employees to stay productive in their comfort zones.
With technology blurring the lines between work and life, a chance for you to be a digital nomad should be the main reason to look for a job change!
What I enjoy the most about working at Axelerant is the fact that everyone recognizes we have lives outside of work- that everyone has kids, parents, extended family, people for whom they can always be around when needed.
Hetal Mistry, Project Manager
A healthy work-life balance is a significant element that contributes to attaining job satisfaction. We know that to build a rewarding employee experience, employers need to understand what matters to their people. The benefits mentioned above are just a few of the many efforts Axelerant management take towards their employee’s well-being.
Which benefit at your current company do you most appreciate? If you are planning to apply at Axelerant, or have already applied, which benefit are you excited to profit from? Do let us know your views in the comments section below.
This article was updated to reflect internal policy updates on November 4th, 2020.