Financial Daily from THE HINDU group of publications
Monday, Feb 24, 2003
Financial Daily from THE HINDU group of publications Monday, Feb 24, 2003 |
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Industry & Economy
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Education New role for corporates in schooling Anjali Prayag
BANGALORE, Feb. 23 YOUNG global citizens in Bangalore will soon have another school to choose from. With several others already having made a mark, how does Indus International School plan to sell itself to parents? Mr T.P. Vasanth, one of the trustees of the school, said: "Clearly, there are three stakeholders in education: children, teachers and parents. But we have gone ahead and identified yet another interested party: that is the corporate that employs the parent.'' And Indus International School proposes to market the school to corporates through a unique HR initiative: employee retention. Mr Vasanth said, "For a fee of Rs 25 lakh, corporates can sponsor the complete education of one of their employee's children. This is one way of attracting and retaining good talent within the company.'' Realising that executives need to move from country to country more often these days, the school decided to make this offer to schools. "Several MNCs in Bangalore have NRIs working with them. This schooling option for their children will give the company the loyalty of the employee and ensure that the child gets education that is on par with international standards,'' Mr Vasanth said. The school has already been awarded an affiliation with the Council for the Indian School Certificate Examination. Along with this, the school will also offer the International Baccalaureate. Students will have the option of choosing between being day scholars and week boarders."Though corporate tie-ups are becoming a global trend and are very popular in Indonesia and Japan, it's for the first time in India that any school has attempted this. We are expecting several FMCG and IT companies to come forward and accept this idea.'' The deposit of Rs 25 lakh has a lock-in period of five years, after which the corporate is free to opt out of the scheme, Mr Vasanth added.
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