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KOLKATA: At a time when inflation threatens to burn a crater in nearly every corporate’s pockets and early recessionary signs have induced most companies to tighten salary packets, state-owned explorations major ONGC is swimming against the tide.
For starters, ONGC plans to offer its near 10,000 officials new cars with a Rs 7 lakh to Rs 8 lakh price tag. There is a catch though. ONGC will own the cars since it will be procuring them. But the vehicles will be available to eligible executives 24x7.
The move, claim top ONGC officials, is part of a new employee retention drive to prevent flight of top talent to the private sector. Lately, the public sector explorations major has suffered heavy attrition since private sector rivals are offering more generous emolument.
For starters, ONGC plans to offer its near 10,000 officials new cars with a Rs 7 lakh to Rs 8 lakh price tag. There is a catch though. ONGC will own the cars since it will be procuring them. But the vehicles will be available to eligible executives 24x7.
The move, claim top ONGC officials, is part of a new employee retention drive to prevent flight of top talent to the private sector. Lately, the public sector explorations major has suffered heavy attrition since private sector rivals are offering more generous emolument.
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While the ONGC management is yet to take a call on the specific models that will be available to the 10K-odd officers, there may be a host of options at the Rs 7-to-8 lakh price band. From the Maruti stable alone, the SX4 and DeZire fit the bill. While Hyundai offers the `Verna’ in that price range.
When contacted, an ONGC official said: “It’ll be a win-win situation for both ONGC and its employees since the oil major will receive depreciation benefits on the vehicles while an eligible officer will get a vehicle free of cost at his/her disposal. Such a scheme has been introduced in select private companies, but is relatively new in the public sector space.”
The ONGC top brass, it is learnt, gave an in-principle approval to the scheme recently during a meeting with the ONGC Officers’ Association in Delhi. The issue will be discussed at a high-level committee meeting in coming weeks. The official spokesperson of ONGC, Mr Debabsih Mukherjee, however, declined to comment when asked about the issue.
“The price of the car would hinge on the hierarchical level of the individual officers. In the executive-4 and executive-5 levels, the band which houses more than 50% of the total number of ONGC officers, the car would be priced around Rs 7-8 lakh. The E6 and E7 level executives may even get cars pricier than the Rs 7-8 lakh range,” the official said.
Executive level 4 or 5 are managerial level posts for employees working for with 16-17 years of experience at ONGC. It is also learnt that ONGC is considering similar schemes for its employees. Recently, all officers were offered mobile handsets with connections and laptops.
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varsha mishra, Analytical Chemistry Manager, rfrac
| 10 28 2008 06:05:34 +0000
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