Hero MotoCorp announces Voluntary Retirement Scheme for employees

6 Apr 2023 , 11:01 AM

Hero MotoCorp has announced a voluntary retirement scheme (VRS) for all its employees as a means to streamline operations and improve productivity.

The company stated in a press release that it aims to create a strong and adaptable organization that prioritizes employee well-being amidst a rapidly changing and dynamic environment. As a result, Hero MotoCorp, which is the global leader in the production of motorcycles and scooters, has initiated a voluntary retirement scheme (VRS) for its staff.

The voluntary retirement scheme (VRS) has been devised to align with the company’s vision of creating a more agile and future-ready organization, which entails consolidating roles and reducing hierarchies to enhance empowerment and agility. 

According to the statement, the company anticipates that this move will enhance operational efficiency by creating a leaner and more productive organization.

The voluntary retirement scheme (VRS) is open to all employees and includes various benefits such as a one-time lump sum payment, variable pay, medical coverage, gifts, the option to keep the company car, relocation aid, and career support.

For feedback and suggestions, write to us at [e-mail]