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SAIL Introduces 3 Year Sabbatical Leave Scheme

Steel News - Published on Tue, 14 Jan 2020

Image Source: reutersmedia.net
Financial Express reported that Steel Authority of India Limited has introduced a scheme for sabbatical leave for all its regular employees who have completed 10 years in the company, primarily aimed at cost-cutting. During the course of the sabbatical leave, which can be for a maximum of three years, executives opting for the scheme will not get any salary or perks other than medical benefits for the employee and her family; while those working at the plants and already having company provided accommodations will be entitled to retain them and avail medical benefits. As per FE report, the company, however, is hard selling the scheme to its eligible employees as an opportunity to hone up skills, write books or compose music, discharge familial and social obligations, pursue hobbies and entrepreneurial ventures, among others. They will also be able to take up any overseas assignment. But, the employee would not be allowed to join any of SAIL joint ventures or subsidiaries. The employee will also not be allowed to have any business dealing with SAIL or its joint ventures or subsidiaries, individually or as an employee of another firm.

The chairman of the company reserves the right to extent or limit the period of operation of the scheme or to withdraw and re-introduce the scheme.

A scheme for sabbatical leave, similar to the present one launched in December, was in force at SAIL between 1999 and 2004, but only 130 employees had opted for it, forcing the management to terminate the clumsy, less remunerative process. The present scheme comes with no time-frame.

For a steel company having around 18-20 million tonne capacity, SAIL has three to four times more regular employees than its peers in private sector. As on January 1, SAIL had 72,246 employees.

Source :

Posted By : Rabi Wangkhem on Tue, 14 Jan 2020
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