Starting July 1st, we must collectively aim to create a fund of funds to support several people who have lost jobs because of downsizing, due to the current situation facing society. We will start by offering this facility to those in public relations (in-house and consulting) and journalism. It is purely optional, and one needs to opt-in to be considered. All donations are purely voluntarily.
This will be the first wave that will ensure support till December. The intent is for it to benefit those genuinely affected by the turn of events after March 31st 2020. So, if one wants to benefit from this fund he or she should be part of an organisation that laid off employees between April 1st and June 15th. This does not apply to those who were laid off due to lack of performance.
There are many different situations. Some have EMIs to pay, some have children’s fees to pay, some have rent to pay and so on. What will this fund do? This fund will ensure that an individual who has no other earning family member gets an interest free loan that he or she can pay back whenever he or she gets a job in future. The loan will be given monthly to ensure that basic needs to feed upto four people is ensured. A back-of-the-envelope estimate shows that a family of four needs Rs 10,000 for groceries per month on a healthy vegetarian diet. We will either partner with a grocery chain to ensure a package is delivered twice a month to cover all grocery needs, or offer the person cash for him or her to purchase these items.
Some aspects to consider
- If the person is between 25 and 50, to be given first preference. The assumption is anyone older is nearer to retirement and will have savings (Born between 1970 and 1995)
- The person should have been in the last job for at least a year which means joined before March 31st, 2018
- If the person has movable assets that they can sell, then they will get second preference
To be a donor one needs to fill this form > bit.ly/FOF-DONOR
- Paying from personal account or on behalf of organisation
- Prefer to pay fund or would like to directly support an individual
- How much money would you be willing to spare over a 6-month period with a monthly contribution to be made starting July 10th and until December 10th
To be a beneficiary one needs to fill this form and respond to these 15 questions > bit.ly/FOF-BENEFICIARY
- Date of Birth
- Current Address
- Whether staying on rent or own house?
- Number of people living in current household
- Name of Last Organisation
- Last Designation
- Date of being relieved
- Last monthly salary drawn
- Severance package until when?
- What are monthly household expenses excluding travel and EMIs?
- Who are other earning members?
- Monthly household income currently?
- LinkedIn profile
- Are you open to a direct transfer from a donor?