iCare increases benefits for women workers
iCare increases benefits for women workers
ICare has set itself a target to get 20,000 women factory workers to join its scheme ‘iCare benefits' to make their lives better while they learn some financial management.
The scheme allows women on low incomes to buy household appliances through monthly payments.
Over the next two years iCare expects its business will grow by 30-35 percent as the demand for this type of product is high.
During the recent launch of iCare, the company's CEO Ms Toomkham Phoungmachan said that iCare was a subsidiary of Mobivi Vietnam, a company which focuses on workers with low incomes, especially female workers who also look after the family home. Despite their low incomes these women are eager to use electrical equipment and other modern household appliances to make their lives easier.
iCare believes that if women on low incomes can acquire essential products as well as learn to manage their finances better, they will have money left over to save.
The current situation where people usually go to markets to buy the things they need is what the company is hoping to change.
Market goods are of variable quality and a buyer cannot be sure of getting a good product, and it is unlikely to come with any reliable form of guarantee.
Membership of iCare benefits would change all that.
The company imports internationally recognised branded goods, so their members can be sure of both quality and service.
Ms Toomkham said there are 250 members registered to use the company's services at present, and their standard method of paying for goods is to have 30 percent of their salary deducted at source and paid to iCare, leaving them with 70 percent for their everyday living expenses.
This is one way that iCare can benefit female factory workers, helping them to manage their finances better amid today's high cost of living.
Anyone interested in joining the iCare benefits membership must sign a registration form, after which they are eligible to purchase essential items like a refrigerator, washing machine and other household appliances.
Members can also make transactions via SMS, the internet, by ordering from designated relationship managers, or by calling the iCare number for more information, 856-21 255661.
Most importantly, there is no cost to employers who participate and, just for cooperating, iCare wil l share part of its proceeds with its employer partners, enabling them to offer free benefits to their workers.
The company is offering its services to factories and is working with so many local authorities, and its good mind set suppliers to ensure that all members can access funding to purchase essential products without impacting their salary too much.
iCare is one response to the government's poverty reduction policy, and it intends to improve the lives of women on low incomes, eventually expanding their purchasing power to cover other items such as health insurance, package tours, air tickets, and education.
iCare seeks to promote innovative business in Laos, along with social entrepreneurs, towards business and social development.
