Tata Motors’people initiatives extends to all employees, including workmen and managerial cadres. In focus are productivity benchmarking, cost optimisation and job enrichment towards an effective and efficient structure in sync with market demand. Tata looks at the scheme as appropriate to combat macro-economic pressures resulting in depressed growth of commercial vehicles and passenger cars in the Indian auto market.
Tata Motors has announced a Voluntary Retirement Scheme (VRS) intended for workmen. It entails a generous benefits package for those opting for VRs, including a monthly payout (Basic + DA) to be dispensed at the date of separation till the employee turns 60 years of age. This ensures assured monthly income as against a one-time single amount payment.
The VRS includes provision of a medical insurance cover for 10 years post leaving, in addition to retiral benefits such as PF, gratuity, superannuation (if applicable), encashing of unavailed leaves, LTA due but not claimed, etc.
Tata Motors people initiatives complements its strong product portfolio announced till 2020 with two new passenger vehicle business launches each year, and several new products and variants across commercial vehicle segments. Tata is determined to meet these plans through a strong, robust, global and customer-centric organisation that can compete effectively and ensure a robust future for employees.