From scratch to becoming a US$ 250 million company, Interloop produces more than Half a Billion pairs of socks annually at 5 Hosiery Manufacturing Divisions located in Pakistan, Bangladesh and Sri Lanka, for top International brands & retailers.
Creating thousands of jobs and supporting households, earning foreign exchange for the country, paying rightful taxes and duties and fulfilling social responsibility through provision of quality education to thousands of underprivileged children, free health services to poor patients, nurturing talent by promoting sports for the youth and community, and providing relief and rehabilitation services for affected people during natural disasters, Interloop is playing its role as an agent of positive change for the stake holders and the community.
Mission:
To be an agent of positive change for the stakeholders and community by pursuing an ethical and sustainable business
Group Vision 2020:
To achieve a turnover of US$ 700 Million by 2020 through Existing and New Profitable business creating gainful employment and investing in the community.
Values:
Integrity: Act with Integrity
Care: Nurturing a Caring Culture
-- Accountability: Accept Responsibility, Be Accountable
-- Respect: Respect for Environment, Respect for the People
-- Excellence: Achieving the Highest Standards
-- Corporate Social Responsibility
Interloop's mission and reason for existence is to bring about a positive change in the community. To pursue this cause, Interloop has invested approximately US$ 6.7 million in the community during the last 6 years. Its main areas of focus include EDUCATION, HEALTH, SPORTS and DISASTER RELIEF.
HR & People Practices
Interloop's strategic planning, fiscal discipline, and reinvestment in the business are key elements contributing to its success over the last 25 years. However, what makes Interloop unique is its People; a motivated, talented and committed workforce. Interloop's management approach is based on two key principles: Respect for People, and Continuous Improvement. These two principles guide its common and shared values, iCARE: Integrity, Care, Accountability, Respect, and Excellence, shaping its organisational culture and defining the essence of the company. These core principles and values support and are critical to achieving Interloop's mission.
Interloop has prescribed Management Policies and SOPs following the best international practices to run Operational and Support functions. Interloop inducts skilled people from outside as well as invests time, efforts and money to develop existing employees. It considers employees as its strategic stakeholders and believes that their intellectual and financial growth translates into growth of the company. A well-designed Management Trainee Program, annual training plans, an in-house Technical Training School and various leadership development programs are in place to take care of team's development requirements.
At Interloop, each and every employee is respected and cared for. The company distributes 10 - 11% of its profit amongst its employees in the form of bonuses and profit participation. The company spends 10% of its profit to provide all basic facilities to its people including EOBI contributions and social security. Multiple employee welfare schemes including gratuity, provident fund, health care, scholarships for employees' children, welfare assistance for non-executives, free pick & drop, subsidised meals, etc are in place. Through the Interloop Stock Option Scheme, executive employees can buy its shares and transform from stakeholders to shareholders. Company-wide sports activities are organised to promote physical and mental well-being of all employees. In addition, there are various social events organised through-out the year promoting collaboration and teamwork.
Interloop truly believes that empowering women through skills enhancement brings financial stability, enabling them to support their families live better lives and contribute immensely towards the development of Pakistan. Enhancing female participation is one of company's top goals and Interloop is continuing to increase female participation in its workforce. It is also hiring females as Stitching Machine Operators, Knitting Planners and Knitting Operators which were previously considered male dominated areas. 45% Management Trainee Officers inducted every year are females. Interloop has female representation in all its departments as well as at the management and the executive board level. Day Care Centres functioning at all manufacturing plants which are now being transformed into Montessori Schools.
Interloop is an equal opportunity employer and is committed to promoting diversity in all areas of employment and providing an inclusive environment where everyone feels valued and respected, irrespective of the race, gender, marital status, age, disability, religion or belief, color and national origin. It aims to provide its employees a good, safe and supportive work environment, free of discrimination and harassment and complies with and maintains all requirements of Labour Laws of Pakistan and Customers' Code of Conduct.
Looking ahead, Interloop is investing in a multi-year strategic program - Interloop Way. Interloop Way will further define how it performs, behaves and makes decisions as an organization, so that it sustains what it has created and creates consistency as it expands globally. Interloop Way will aim to further improve its people practices, systems and processes such as problem-solving, recruitment, orientation, performance management, training and development, and communications. Interloop Way will help achieve the desired culture towards full engagement as well as mutual understanding and trust between company and team members, achieving a balance between company and employee needs, for sustainable growth and development.