Paytm Plans To Hie More People Setting Aside Rs 250 cr As ESOPs
Paytm, a digitized platform plans to offer ESOPS that is employee stock ownership plans, worth Rs 250 crore, besides hiring in more employees to fit into its multiple roles. The company stated that the ESOPS would be distributed to their high performers’ and new recruits.
The company said, “This will widen the base of employees having company shares and will enable more people to become a stakeholder in the firm's growth story.” Paytm plans to hire more than 500 people to fit into its multiple roles besides hiring for its various critical product and technology functions.
Paytm, with a current strength of an estimated 5,000 employees, expects to hire people primarily for their financial verticals including insurance, lending and Paytm Money. Rohit Thakur, the chief HR officer at Paytm said, “Paytm has a high-performance culture and follows a transparent process to evaluate and reward employees. We always ensure to provide ample growth opportunities and engage for feedbacks from time to time.”
Regarding the company HR policy regarding low performers of the company, he further added,“ After analyzing the current scenario, Paytm has offered those employees to continue to be on the payrolls for another two months, and receive all payments for this extended period,” the statement said.
Paytm is valued at about $16 billion following its last round of funding in November 2019 led by US asset management behemoth T Rowe Price with participation from Ant Financial and Soft-Bank.
