Online payment and e-commerce platform Paytm has decided to give 100 per cent hike to the top performers. There are around 200 employees across the company who will be rewarded for their noteworthy performances.
Paytm has been deliberating over this since January and decided to give them hike. However, employees falling in the category of C-suite might not get 100 per cent hike but some of them can expect their ESOPs to double as the valuation of the company increases.
Currently, the total employee count at Paytm is 4,500 out of which 15-20 per cent have already been given ESOPs. The company is also planning to give ESOPs to the mid-level employees who have the potential to impress the company with their work.
The other company which has decided to give 20 per cent hike to its tops performers is Snapdeal. As a part of e-commerce major, Snapdeal’s efforts to become a meritocracy-led organisation, it will be rolling out annual salary hike of 20 per cent and more and ESOPs for its top performers. However, the quantum of ESOPs is yet to be decided.
“We have moved onto a trimester-based performance review. We want to be a meritocracy-led organisation and we want to reward our top performers. This year these top performers across functions, will get at least 20 per cent hike,” Snapdeal Vice President (HR) Saurabh Nigam told PTI.
The increase in salary will be effective from April 1. The company aims to retain its talent and hopes these efforts will keep the employees motivated and committed to the company’s goals. There are around 6,000 employees working with Snapdeal across Delhi, Gurgaon and Bengaluru.