Patni to help employees with entrepreneural dreams

Patni Computer Systems is all set to launch an 'entrepreneurship programme' for its employees to boost innovation and with a target to achieve 10 per cent of revenue from new products and services in the next two years reports Rediff.

According to this programme, employees can work on innovative ideas, and Patni will provide funding and help in setting up a team.

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The company had already decided to allocate 10 per cent of their cash reserve to initiatives that are technology-led. This programme will come under the initiative.

"This is perhaps the first time in the industry that a risk-reward model is being worked out. Later this month we will roll out the 'entrepreneurship programme'. The idea must have a capacity to generate revenue and should also have a go-to-market model in place," said Jeya Kumar, chief executive officer, Patni Computer Systems.

The company will fund two ideas per year. An employee can bring his/her idea to the table and once it is sanctioned, can work on it for a period of 18 months. During the 18-month period, the employee will not be eligible for the variable component pay of their salary.

"Since the employee will move out of variable pay this is a personal risk. But once the service is live, the compensation architecture changes. We do not mind paying a certain percentage of the revenue that the model will generate to the employee," added Kumar.

The programme is yet to take shape in total and Patni is still working on the exact details of the compensation package.

If the idea does not work-out after the stipulated period the employee can go back to his/her role in the company.

"We have talked to people who would be interested in such a scheme and have come up with the idea. We have realised that one has to balance between individual and company aspirations. This will help us coming up with new products and services," said Kumar.