Sanasa Life Insurance; creating an environment for employees to develop and to be developed

Sanasa Life Insurance Head of HR Madusanka Vidanagamage 

Sanasa Life Insurance Head of HR Madusanka Vidanagamage is an old boy of St. Sebastian’s College, Moratuwa where he completed his GCE Advanced Level in 2007. As a student fresh out of school he took his first step forward which has made him an HR professional today. He started on his certificate in HRM and subsequently proceeded to successfully complete his professional qualification in HRM which enabled him to see the field of HRM in a different perspective.

As Elin Nordegren once very truly said, “Education is one thing no one can take away from you,” and that has been what he has always believed in and which made him pursue his MBA in HRM at the OUSL. Following are excerpts of an interview with 

Vidanagamage:

Q: How does Sanasa Life Insurance manage the current economic crisis?

A: At a time when most companies have had to resort to several drastic measures for survival, Sanasa Life Insurance has recognised that our employees are our biggest asset. It has certainly been a challenging time for the entire country, but we have not reduced or cut back on our employees’ salaries. Sanasa Life Insurance also did not reduce any staff benefits. Instead we have increased all staff salaries by 25% for the new financial year.

Q: What are the new HR initiatives to reduce the company overhead?

A: Over the past couple of years Sanasa Life Insurance has looked at digitising all our business-related work. Before the COVID-19 pandemic struck in 2020, we were testing work from home for our employees. We equipped them with flexible work solutions like laptops. So when the pandemic struck, it was very easy for our company as well as the employees to adjust to the new working conditions. 

In terms of Human Resources, I believe that the Performance Management component should be revised in line with the current trends of Human Resources. 

The present performance management mechanism evaluates the traditional components such as, Business Target Achievements, KPI Achievement, etc. However, as the Head of Human Resources, I am currently looking into possibilities of adopting a 360 degree performance review mechanism. Adopting a 360 degree evaluation mechanism will benefit both the staff member and the superior in terms of knowing their review isn’t siloed to a conversation between just them and their boss and encourage mutually agreed-upon standards to ensure fairness, honesty, and transparency.

Q: What made you select HRM as a career?

A: I have always been a people-oriented individual. I have always wanted to work with and develop individuals which is what made me choose HRM as a professional career. Also, I do recall the HR department of my first employer, where I first saw how an HR department functioned. Seeing the friendly service oriented environment/work/culture added to my need of pursuing my career in HRM.

Q: You’ve been with Sanasa for more than a decade so far. What has the experience been like?

A: My life at SICL has been a journey more than a career. I have been able to practise all that I have learnt as an HR professional. I joined SICL as a trainee and started working with well-experienced supervisors who have coached me and mentored me to be who I am today. Also at SICL I have learnt people management in a broader scope, as we are an equal opportunity employer.

I believe HRM is the heart of any company. Any company could have assets that have a monetary value, but the Human Resources cannot be given a monetary value. The Human Resources of the company could make or break a company and as the HR Head it is my responsibility to hire the right person with the right skill for the right job. As a department from an employee’s on boarding process, developing competencies until the off boarding process is handled by our HR department.

Q: What is the role of HR in a company?

A: Sanasa Life Insurance was awarded the best employee benefits provider in Sri Lanka from UK and UAE Finance and Banking magazine, which follows global growth of companies. 

I believe the award speaks for itself at SIC. We have multiple Financial/Non-Financial benefits to our employees apart from their salary packages. Some of which are reimbursement of housing/vehicle loan interests/education loans/staff loans (short-term/long-term). Also Sanasa Life Insurance Company PLC will be the first insurance company in the island to provide a pension scheme along with EPF and ETF contribution. We have forwarded the proposal for approval to the commissioner of labour. This will be a huge step for SICL and sustainable attract/retain the Human Resource in the company.

Our company also takes training as a very important component in employee development which is why we enrol staff for local and foreign training programs as of 31/12/2021. We have trained over 500 employees in various segments locally and internationally which include countries such as Italy, Japan, Singapore, United Kingdom, Germany, and South Korea.

During the peak of the pandemic SICL as an employer took measures to treat our staff members and their family members which I believe gave the confidence to our staff members that SICL is more than an employer.

Q: With your experience, what makes Sanasa Life Insurance stand apart from other employers? 

A: Sanasa Life Insurance Company Ltd. is a people-oriented company, with the visionary leadership of our founder Chairman Dr. P.A. Kiriwandeniya, starting from humble beginnings to provide insurance for the low-income-earning individuals in society. The first premium of the Insurance Cover was Rs. 5.00 only which was affordable to many at that time. As a company with the influence of a cooperative movement, the company is focused on creating a sustainable business model and creating the opportunity for all layers of the society to afford insurance cover with unmatched benefits. 

Also, Sanasa Life Insurance Company Ltd. creates an environment to its employees to develop and to be developed. Many who are in the leadership of the company are those who have joined at the bottom of the structure and being developed with education, experience and professionalism. As an HR professional I believe that we could name only a few such employers in the country who develop and create leaders.

Q: What are the milestones in your career as a professional in HR?

A: Sanasa Life Insurance Company PLC has been the stepping stone of my HR career. A milestone in terms of my career development was when I was promoted as a Senior Executive of the HR Department which gave me a sense of responsibility and the courage to take up leadership in the years to come. 

As a professional another milestone would be the opportunity to lead the department independently as the Assistant Manager of Human Resources and being instrumental in introducing modern Human Resources concepts over the contemporary Personal Management concepts which were practiced during that time.

Also, it was during my tenure as Head of Human Resources that we were awarded the Best Employee Benefits Provider in Sri Lanka by UK and UAE Global Finance & Banking Magazine and I believe that has been my biggest milestone to date.   

Q: Are you confident that the employee satisfaction levels here are good? 

A: People cannot be satisfied because human needs in the present day are constantly changing. However, I believe that we at Sanasa Life Insurance Company Ltd. have satisfied the needs of our staff members in terms of their future and career stability. 

Q: As a professional how do you manage work-life balance, and how do you encourage your staff to do the same. 

A: Work can be stressful at times as a professional handling matters of a staff of over 500. But I have always had a good balance in my work life, since I had a fine line between my work life and personal life. To have this balance it is vital for us to manage “Time” which is a key component of being professional and also prioritising daily activities. Being able to manage these two aspects effectively will create a perfect work-life balance. Apart from those I generally have hobbies that reduce the stress of the day.