Byju's, the renowned edtech giant helmed by Founder and CEO Byju Raveendran, is taking strategic measures to navigate through its current financial and cultural challenges. Raveendran recently addressed a gathering of over 1,500 sales associates and managers, urging a shift from aggressive selling tactics to a more consultative approach.
He emphasized the transition from a "push-based" to a "pull-based" sales model, highlighting the importance of guiding students and parents towards the transformative learning experiences offered by Byju's. Raveendran stressed that the role of sales associates transcends mere selling; they are, in essence, education counselors tasked with providing guidance and support.
Managers were instructed to adopt a coaching role, focusing on empowering and assisting the sales team rather than enforcing rigid call quotas. Furthermore, sales associates were encouraged to work flexibly, without the burden of strict time-tracking measures. Raveendran emphasized results over hours spent, allowing for autonomy in scheduling work hours, including weekends.
In response to financial constraints, Byju's has adjusted its course prices, offering discounts of up to 30 percent. The annual subscription for the Learning App now stands at Rs 12,000, while the Classes and Tuition Centres are priced at Rs 24,000 and Rs 36,000 annually, respectively.
To incentivize performance, the company announced that sales associates would receive 100 percent of closed sales directly into their accounts the following working day, with managers receiving a 20 percent share. Following the clearance of outstanding dues, associates will receive 50 percent of closed sales, while managers will receive 10 percent.
Raveendran also emphasized having no tolerance for any misconduct or mistreatment, urging employees to report them directly to him. Battling liquidity challenges and legal disputes with key investors, Byju's has managed to recover ground in its financial obligations, ensuring complete salary disbursal for April, except for the sales staff. However, the company still seems to be working to clear the remaining dues of February and March.
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