ZingHR To Provide Increments, ESOPs, And Promotions To Its Employees
ZingHR has rolled out Employee Stock Ownership Plans (ESOPs), increments, and out-of-turn promotions to boost employee morale and motivate them while working from home amid COVID-19.
The ESOPs will allow approximately 30 percent of the total workforce to own a stake in the company and bolster employee engagement efforts.
ZingHR has rolled out annual increments in the range of 15-40% and even awarded out-of-turn promotions to 15-25% of their employees.
Prasad Rajappan, Managing Director, ZingHR said, "We, as a family of employees, have been on a difficult journey in the past year, and everyone has contributed their best. To reward these efforts in this journey, we are offerings ESOPs to over 30 percent of our team. We aim to imbibe an entrepreneurial culture, giving wings to individual aspirations.”
“I have been an employee for some of the years in my career, and I can very much relate to what our employees’ expectations and needs are. I believe that if employees have a sense of ownership, they can significantly contribute to our long-term vision of providing best-in-class HRMS software focussed on OutcomationTM,” he added.
These initiatives come when several companies are laying off employees or implementing a pay cut amid uncertainty induced by the recent surge in coronavirus cases across the country.
