The initiative will allocate 10% of the brand’s shares to deserving employees
New Delhi: Personal care brand mCaffeine has announced Employee Stock Ownership Plan (ESOP) which will allocate 10% of its shares to deserving employees, as per a press release shared on Wednesday.
The initiative aims to create “100 crorepatis” within the company, the company said. The ESOP scheme is designed to reward employees who have displayed commitment to the organization.
Eligible employees from seven different verticals within the industry will be rewarded with ESOP scheme.
Tarun Sharma, co-founder and chief executive officer at mCaffeine, stated, “With over 50% employees eligible for the ESOPs, we couldn’t think of a better gift for our employees as we enter a new year. The ESOP scheme opens a new growth avenue for employees and the brand alike.”
There are over 600 employees in the organization currenty. The company aims to 1,000 employees by FY24 and 2000 by FY26, the release said.
“After being a part of mCaffeine, I finally understand what a thriving atmosphere feels like. Our efforts are never unrecognized and we seldom feel unheard. mCaffeine always goes a step ahead for its employees, and the ESOP scheme is proof of their vision of collective growth,” says Udbhava Mishra, an employee at the Growth Strategy vertical.
Founded by Tarun Sharma and Vikas Lachhwani in 2016, mCaffeine develops grooming products infused with caffeine and largely offers 3 categories – hair care, skin care, and body care.
