Hero MotoCorp has launched a voluntary retirement scheme (VRS) for its staff. As per the company, the scheme 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.
A press release from the company stated, “We expect this to improve efficiency within the company through a lean and more productive organisation.”
Applicable to all staff members, the VRS offers a generous package that includes – among other benefits - a one-time lump-sum amount, variable pay, gifts, medical coverage, retention of the company car, relocation assistance, career support etc.
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 further boosted the demand scenario, and the two-wheeler industry expects these factors to contribute towards a double-digit growth in this financial year.
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