India’s most-valuable startup, BYJU’S, on Tuesday announced an upgradation in their employee leave policy, under which both employees and trainees will be able to operate flexibly with accommodation for period leaves and child-care leaves.
According to the updated child-care leaves section, employees with children up to an age of 12 years are eligible for seven leaves annually. These can be availed of on multiple instances, and can also be split into half-day leaves.
Another change is the accommodation for period leaves. All women employees at BYJU’S are eligible for a total of 12 period leaves in a calendar year.
Under the new maternity leave policy, the company, in addition to the 26 weeks of paid leave, offers its employees an additional 13 weeks of unpaid leave. For new fathers, the number of paternity leaves has been increased from seven to 15 days. BYJU’S claims this new policy will allow new parents “the assured flexibility and security to bond with their children in the early years of life.”
"At BYJU'S, it is our constant endeavour to create an environment where employees feel valued, supported, and cared for. We are committed to building a healthy and inclusive culture for all employees, and the roll out of this upgraded leave policy is a step in that direction. We look forward to building a more positive and compassionate work environment for today's workforce" Pravin Prakash, chief people officer at BYJU'S said.
The firm said it has also launched ' BYJU’S Let’s Talk', an employee wellness programme that provides access to 24X7 one-on-one online counselling. Additionally, BYJU’S also has regular check-ins and virtual meetups where employees can connect, fostering a healthy work culture and an environment of trust and support.
BYJU’S currently has more than 100 million registered students and 6.5 million paid subscribers. It is in talks with investors to raise an additional $1.5 billion, which could potentially value the edtech company at $21 billion, Mint reported in August. As a part of the round, BYJU’S recently raised $300 million in October which valued the Indian edtech company at roughly $18 billion.
Think and Learn Pvt. Ltd, which runs Byju’s, reported a jump in total income to ₹2,380 crore in the year ended March 2020 from ₹1,305 crore in the previous year. However, losses widened to ₹262 crore from ₹8.82 crore in the previous year.
