KUALA LUMPUR | Industrial network company owner Hii Ding Sin has found a novel way to retain employees — by helping them pay back their PTPTN loans.
The managing director of Vector Infotech Sdn Bhd said he came up with the idea as he did not want to lose good interns to other employers.
“It is not easy to train employees. Even more so if you get good ones,” he said.
Speaking to Malay Mail, Hii said his idea took him to his hometown in Sibu where he went to Universiti Kolej Teknologi Sarawak to look for suitable interns.
“After the completion of their internship, they will be offered employment at my company and judging from their immediate superior’s feedback, the company will help them to repay their PTPTN loans,” he added.
Hii said instructions have been given out to the company’s head of departments to identify employees who qualify.
“At the moment, we have helped three employees to repay their loans,” he said, adding that the company, which employs 120 people, has the capacity to help 12 more employees.
Hii also said that the company did not tie the employees down with a contract despite the company helping them to repay their study loans.
“It is a token from the company to them,” he said, stressing that aside from loan repayment, the company also paid other statutory payments like EPF and Socso.
“I want to do my part to help the corporation so that it can help other needy students,” he added.
Meanwhile, PTPTN Deputy Chief Executive (Policy and Operations) Mastura Mohd Khalid said the corporation began offering tax relief for employers under Budget 2019. It is valid until December 31 this year.
Encouraging employers to take advantage of the offer, Mastura said it was one of the ways companies could show their appreciation for their employees. To qualify for the scheme, Mastura said the employees must be working full time with the company.
“The company is disallowed from charging additional payment,” she said.
Saying the incentive was a win-win situation for employers and employees, Mastura said employers get their tax relief while their employees will be more productive.
“It builds the employees’ loyalty with the company,” she added.
Employers can pay their workers’ PTPTN loans via www.ptptn.gov.my (Portal Majikan Online).