Upholding Fairness
and Dignity for All
Thermax’s Social Compact initiative represents a profound philosophical commitment to extending fairness and dignity across its entire value chain through open dialogue. Moving beyond mere regulatory compliance, this transformative platform fosters responsible and inclusive business practices by building trust with the most vulnerable stakeholders.
The journey began in 2020 with a comprehensive foundational assessment to understand ground realities, which subsequently evolved into a proactive, worker-centric support system. By co-creating solutions alongside the workforce, the initiative successfully established accessible grievance mechanisms, facilitated essential welfare scheme enrollments, and promoted financial literacy. This ground-up approach ensures that vendors and contractors become accountable partners in sustaining an ethical culture for long-term business growth.
The tangible impact of this dialogue-driven model is evident in the significant expansion of social safety nets and the evolution of worker engagement from basic grievances to collaborative partnerships. By continuously listening and adapting to dynamic project environments, Thermax ensures that every worker's voice contributes to a resilient and equitable ecosystem. Ultimately, this sustained effort catalyses sustainable business growth while cementing a legacy of compassion and shared responsibility.
The Social
Compact Journey
Foundation: From Audit to Accountability
The first phase of our SoCo journey was dedicated to building a robust foundation based on evidence and deep understanding. In partnership with non-government organisations, Dasra and Aajeevika Bureau, Thermax undertook a comprehensive social audit, an in-depth assessment spanning its factories and project sites.
Five Core Outcomes
Saathi: Systems Built Ground Up with Workers
We launched “Saathi – Empowering Fairness and Dignity for All”, a platform that marked a shift from a passive audit mode to proactive action, and from a mindset of compliance to one of compassion and co-creation. Saathi embodies our commitment to building systems with workers, not just “for them” but "with them", where dialogue catalyses shared responsibility.
Key Initiatives
Partnership Evolution: Strengthening Trust Through Dialogue
Our efforts have extended well beyond the standard Provident Fund and ESIC (Employees' State Insurance Corporation), enrolling workers and their families under critical schemes like Ayushman Bharat (Health Insurance), PMJJBY & PMSBY (Life & Accidental Insurance), and Term Protection Plans, Pension plan, etc., creating a robust social safety net.
- The Saathi helpline reflects worker-led engagement, transparency, and accountability within the ecosystem
- As awareness has grown, conversations have shifted from basic concerns like wages and overtime to deeper engagement on rights and benefits
- Workers now actively seek guidance on ESIC benefits, government schemes, accident insurance, and essential documentation
This transformation highlights how transparency and tangible outcomes can turn grievance systems into platforms for trust, awareness, and partnership.
Responsibility
Through Dialogue
The Social Compact and Saathi journey are a reflection of a core Thermax belief: responsibility grows from conversation, not just compliance. It is a continuous process of listening, learning, and adapting.
Through sustained dialogue with our workers, vendors, and field teams, we are on track to a model of shared accountability that directly embodies our vision of a responsible and inclusive business.
