New Delhi: B2B E-Commerce Platform, on Wednesday announced an ESOP policy that included all employees and said the future allocation would vest every quarter, because of the standard one-year cliff.
The ‘one-year cliff is a common industrial practice that requires employees to wait for one year to plan the employee shares or ESOPS to start vesting.
Due to get rid of this waiting period.
The company also announced that every employee in the extent, regardless of their office or profiles, will be given ESOPS with their annual performance cycles.
“In the ‘first’ program of the type ‘, it has decided to remove the’ cliff ‘vesting for all ESOPs,” Startup said in a statement.
ESOPS will vest at quarterly frequencies and is fully completed within a period of two years – twice as fast as four-year industrial norms.
After this change, the total number of ESOP holders in the company has surged 400 percent and now includes 100 percent of its employees.
The company currently has more than 4,500 employees on its scrolls.
Meenakshi Priyam, Group Chro (Head of Human Resource Officer) in Behaan, said, “People trust the company with their careers.
We feel that the practice of giving esops with one-year cliff does not repay this trust”.
County has decided to lead in balancing scales in the relationship of employers in the industry and changing its ESOP policy, Priyam added.
Earlier this year, the cycle collected a total of $ 250 million through records of conversion and debt funds to take advantage of the enormous growth opportunities offered by the Indian e-commerce market.
The company has invested more than Rs 4,000 Crore in the last 12-18 months in various business pillars, including people, technology, supply chains, categories, credit, and compliance, to accelerate and strengthen the ability to serve customers better, the statement said .
Over the past five years, continued to build ecommerce ecosystems with networks of more than three million registered users and around 30,000 sellers crossed 1000 plus cities in this country.
This platform has more than three million Kirana stores, retailers, chemists, farmers, and others, conducting more than 5 million transactions per month.
Due to removing 1 year esop cliffs, choosing for a quarterly vesting schedule
