Under the model, managers will receive 20 percent of the sales closed from Byju's sales associates, who will receive 100 percent of the sales closed straight into their accounts.
Edtech platform Byju's has decided to reduce the price of its products to democratize education, as per a report by Business Standard. Byju's Classes and Byju's Tuition Centers (BTC) are priced at Rs 24,000 and Rs 36,000, respectively, for a full year of classes, while the Byju's Learning App membership is now available for an annual fee of Rs 12,000 (including taxes), according to the report.
Similarly, in a meeting with more than 1,500 managers and sales associates, Byju Raveendran, the founder of Byju's, also unveiled a shift in the company's sales strategy, according to the report.
To expand their teams, Raveendran insisted that the associates invite their friends who can join managerial roles or work as sales representatives. Within the next year, Raveendran expects a 50,000 sales force, according to the report.
While saying that the company will always have his support, Raveendran said, “With the ongoing implementation of Byju’s 3.0, there is no doubt that the company will not just maintain its leadership position but also improve it in the coming years.”
Under the new model, managers will act more like mentors than taskmasters. Workers have been urged to notify Raveendran immediately about any mistreatment, coerced sales, or impolite behavior on the part of supervisors. The sales teams' mindsets will change as a result of this.
“If you can get results by spending just half an hour a day, please do that. Want to only work on the weekends? Why not?” Raveendran, as per the report. Under the model, managers will receive 20 percent of the sales closed from Byju's sales associates, who will receive 100 percent of the sales closed straight into their accounts. As per the report, Raveendran said, “The average sales salary is Rs 40,000 per month. So, close a couple of sales, and you can get not just your salary but also clear your arrears. You can earn many multiples of your CTC through this model.” Meanwhile, recently, the embattled edtech platform paid all April salaries to its employees except for sales staff. However, the company has still not paid a part of its February and March salaries to its employees.