Coal India introduces scheme for executives to secure management degrees from IIMs

KOLKATA: Coal India has introduced a scheme that will allow its high-performing executives secure one-year management degrees from Indian Institutes of Management in Ahmedabad, Bengaluru, Kolkata and Indore, a move aimed at taking on private competition.

The company will sponsor the cost, including hostel stay, and keep giving salaries and perks to selected executives.

A company executive said the scheme was essential in view of competition. “The duration of the course will be treated as ‘on duty’ and seniority & consideration for promotion would be protected,” the executive said.

He said many professionals are from technical background. “The initiative will create future managers with an ideal blend of technical and managerial skills,” he said.

To begin with, 16 executives per year will be selected for the scheme, two from each of the seven coal producing subsidiaries and one each from its exploration arm, Central Mine Planning & Design Institute and its headquarters.

The scheme is aimed at mid-level executives in E-4 to E-6 grade with minimum five years of service in Coal India and minimum 10 years of service left for superannuation.

“They are to have an ‘outstanding’ score in their performance in four of the previous five years,” he said.