Hero MotoCorp announces VRS for staff

Hero MotoCorp announces VRS for staff

Hero MotoCorp, India’s largest two-wheeler manufacturer, has announced the launch of a voluntary retirement scheme (VRS) for its staff. According to statement, the VRS designed to make the company agile and future-ready, while it also expects to improve efficiency via a lean and more productive organisation.

It  said that in keeping with the objective of building a robust organisation in a rapidly evolving dynamic environment while retaining employee welfare at its core, Hero MotoCorp Ltd, the world’s largest manufacturer of motorcycles and scooters, today launched a voluntary retirement scheme (VRS) for its staff.

Also read: Manjul Tilak joins Piramal Enterprises as Head HR & Admin

As a part of this scheme, all its staff will benefit from a one-time lump-sum amount, variable pay, gifts, medical coverage, relocation assistance, career support, and retention of the company car.

“The VRS has been designed in line with the vision to make the organisation agile and ‘future-ready’, consolidating roles and reducing layers to increase empowerment and agility. We expect this to improve efficiency within the company through a lean and more productive organisation,” it said.

“The general consumer sentiment is improving, as reflected in the sales performance in March. The constructive policies of the government and the social sector reforms have given a further boost to the demand scenario and the two-wheeler industry expects these factors to contribute towards a double-digit growth in this financial year,” the company added.

Stay connected with us on social media platform for instant update click here to join our LinkedInTwitter & Facebook

Business Manager

View all posts

June 2024

Work Culture: Decode & Drive - June 2024

Submit Your Article

Would you like to share your views? submit your Aricle by clicking on the button below. Submit your Article

June 2024

Work Culture: Decode & Drive - June 2024
error: Content is protected !!