Bharti Airtel is proactively focusing on improving employee support and engagement, and can moderate its employee attrition rate through career planning initiatives, as well as by consolidating its industry position, a Crisil study said.
Recently, Delhi-based telco has stepped up life insurance and medical imbursement for employees amid the Covid-19 pandemic.
Its employees have access to an in-house panel of doctors, oxygen concentrators and hospital beds where possible through the Covid Care team. Additionally, it also rolled out a vaccination program for its employees, their dependents and associates, the study highlighted.
As per the rating agency, Airtel has more than 14,000 employees in India and total customer base is at 417 million worldwide.
Sunil Mittal-led telco, according to the rating agency, needs to focus on improving value creation for its shareholders which has been ‘subpar’ in the last few years due to competitive disruption, adverse regulatory outcomes, and Capex-intensive nature of the business.
“Over the five fiscals through April 2021, the annualised return to shareholders stood at 11.2 per cent compared with 13.8 per cent for the Nifty index. However, the company outperformed the Nifty index in the past two fiscals by rewarding investors with an annualised return (adjusted for rights issue) of 30 per cent compared with 13 per cent for the Nifty index. The company is restructuring businesses to enhance shareholder value,” Crisil said.
Under the new corporate structure Bharti Airtel will hold all digital assets while the telecom businesses will be moved into a newly created unit, Airtel Limited
Up till now, Bharti Airtel housed the Indian telecom business, while digital assets were under Airtel Digital. Bharti Telemedia held international operations including Airtel Africa, the payments bank, data centre under Nxtra, Indus Towers and the direct-to-home (DTH) business.