The platform failed to meet the deadline it had set for itself to disburse performance-linked bonuses to its tuition centre staff. The lack of official communication from management has exacerbated the uncertainty regarding the payment timeline.
Initially, Byju’s had assured the staff that these performance-linked bonuses would be disbursed in May. Unfortunately, Byju’s did not keep it’s word. It wasn’t until the final week of July that a representative from the company addressed the staff regarding this matter.
This issue extends beyond the employees of the Byju’s Tuition Centre (BTC) division, as Byju’s has also withheld variable pay and incentives of teams across departments. Typically, performance-linked incentives are given away quarterly to all employees, including those within the BTC division.
Regrettably, the employees affected by this delay have not been provided with a clear timeframe for receiving their payments. Despite their efforts to seek information regarding the disbursement schedule from their managers and the HR department, they appear to be in the dark regarding this critical issue.
It is reported that a portion of the owed incentives has already been disbursed to employees. The remaining outstanding payments are expected to be rolled out to employees in a phased manner.
Byju’s also cut jobs and gave up its largest office space in Bengaluru in July, which added to its difficulties. Criticism has been directed at the company for delays in provident fund payments to employees. Additionally, Byju’s has not yet conducted performance appraisals for FY24, which typically occurs in the first quarter of each fiscal year.
