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Tech Mahindra has joined its bigger peers Infosys and Wipro in giving out scholarships as part of a larger strategy of stemming attrition.
However, the Pune-based company's focus is on its BPO employees who are interested in pursuing graduation level studies.
Around 1,000 employees who are part of Tech Mahindra's voice based-back office business can avail themselves of up to Rs 5,000 for funding their studies, according to Mr Rajeev Narang, Vice-President- Human Resources of Tech Mahindra
“Several employees who are part of our domestic voice process have studied only up to standard 12th owing to financial difficulties. This scheme will help finance one full year of graduate level studies,” Mr Narang told Business Line .
According to the plan, employees can take the financial disbursement after they have graduated.
The company claims that the employees who have availed themselves of this scheme will not be locked into a bond to be with the company for a fixed number of years.
Around 430 staffers have already enrolled for this programme, according to Mr Narang.
“Attrition levels in this group (the 430 staffers) have come down to less than ‘one-fourth' in comparison with the overall attrition. Attrition in the domestic BPO space can sometimes be as high as 40 per cent,” said Mr Narang.
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