Indore: Information Technology companies, in general, top the charts when it comes to offering a high-growth environment to its employees. Employee Stock Options (ESOPs) are an integral component that such companies use to attract and retain talent. Other than significant hikes, ESOPs, as part of compensation, is an effective tool for hiring senior talent in such high-growth companies.
At InfoBeans, the entire process of identifying high quality talent and offering them ESOPs is an integral part of onboarding and appraisals. On allotting ESOPs, the team members are categorized into an elite club of Partners. Literally they become partners in the company as now they will own the stocks.
There is no age, or gender bias when choosing a member to secure the role of a partner. Neither there is any geographical or function constraint; members irrespective of being in a technical or non-technical role, will get equal opportunity.
Dr Neha Bhopatkar, Associate Director – HR said that contrary to the popular belief that employees only worry about their take home pay, ESOPs indeed makes team members align their goals with the organization and tend to stay longer. It is the best way to reinforce the company’s People First philosophy by putting it in action. InfoBeans believes in growing the business on the back of a strong team and therefore it shares the wealth so created with its Partners.
“I feel honored to be recognized as a Partner in InfoBeans. The InfoBeans Partner Program unleashes the hidden potential and provides opportunities to be a leader. In addition, the program goes a long way in establishing the feeling of financial growth and recognition”, shares Varshali Dalal, Lead – Communication and Marketing, a member since 2019.
Stock options and other such incentives have become essential factors as candidates hunt for jobs, seeking bigger paychecks and better roles. High attrition levels are forcing startups, technology firms, and business houses to offer more generous pay and shorten their stock options vesting period.
In the past, usualy employees looked for a fixed salary and ESOPs were a cherry on top. As there is a surge in millennials and women workforce, there will be an increasing trend where people would accept lower fixed salaries against higher ESOP components.
As per a ServiceNow aficionado Shahnawaz Khan, “I was among the first lot chosen for the InfoBeans Partner Program, something that helped me realize that I am unique and valued. It was my consistent performance that brought me the reward”.
InfoBeans Technologies is a publicly listed company that offered stocks to its team members in 2016, more than a year before it was listed in May 2017.