PhonePe has announced a new offer of US $ 200 million or 1458.6 crore rupees. Let’s know about it …
Digital payment wallet and financial technology company PhonePe has announced a stock option of Rs 1458.6 crore. This will benefit the employees, not the company’s customers. The company says that 2200 employees will benefit from it. Let us tell you that the company gives ESOP (Employee Stock Option Plan) to reward the employees for their good performance. Under this, shares of the company are given to the employees at cheap prices.
What happens ESOP – ESOP (Employee Stock Option Plan) is a scheme made in the interest of employees. Under this plan, employees are given shares of the company. ESOP gives special benefits to employees as compared to other schemes.
Experts say that employees are made partners under ESOP. ‘O’ in ESOP abroad means ownership. Companies in India encourage employees to perform better without increasing their spending.
Many companies of India and abroad are using this plan to keep the employees connected with the company. This method is very popular among IT companies. In the last economic survey, it was suggested to bring maximum ESOP to the central government.
Experts say that employees are made partners under ESOP. ‘O’ in ESOP abroad means ownership. Companies in India encourage employees to perform better without increasing their spending.
Many companies of India and abroad are using this plan to keep the employees connected with the company. This method is very popular among IT companies. In the last economic survey, it was suggested to bring maximum ESOP to the central government.
It was said in the survey that a part of the government’s share should be given to the employees performing well through ESOP. Its benefits should be given to employees of every level.
What will phonepe do now
Manmeet Sandhu, HR head of PhonePe, has written in his blog that the stock option plan was announced in January 2021. All the employees of the company can participate in it. Stock options worth US $ 200 million (Rs 1458.6 crore) will be issued. This will benefit 2200 employees.
Manmeet Sandhu says that the move is aimed at establishing good relations with the employees. So that along with the growth of the company, they also benefit.
This improves the performance of employees
- It was said in the Economic Survey that there are many benefits of giving ESOP to the employees of a public bank. This can change the attitude of employees.
- They will see themselves working as bosses instead of employees. It should be given benefit based on the performance of the employees.
- This can make employees more responsible. This will help to encourage good employees. Their attitude will not be just to settle the work.
- Employees in public sector banks are mainly paid as salary. This is the traditional method. It does not encourage taking risks and doing something new. This kind of thinking can be changed by eSops.
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