Satyam's virtual pool for excess staff

The initiative is to retain firms skilled resources

This innovative programme, — virtual pool — is applicable to employees based in India and allows associates to take time-off from work on a reduced pay structure — for up to six months. Employees in the virtual pool will continue to retain their employment with the company, said Satyam in a statement. Satyam management anticipates that between 7,000 to 10,000 associates will be part of this programme, during the period that it is in operation. The programme has been designed to cover associates who have not been in billable roles for three months or more and includes support resources.

Employees identified to be part of the initiative will receive their ‘basic’ pay, in addition to provident fund and medical insurance. The employment status continues undisturbed and based on business requirements, associates may be recalled and reinstated on full pay and benefits.

Access & guidance

They will continue to have access and guidance to continuously upgrade their skills utilising Satyam’s learning programmes and mentoring resources, the company assured.
Explaining the rationale, Board Chairman Kiran Karnik said  “this is the way of retaining excellent human assets of Satyam despite difficult global economic situation. The recessionary climate that has seriously affected the IT industry, in addition to the unprecedented set of events that Satyam faced recently, has added to its pressures.”

Comments (+)