GURUGRAM: Unable to pay salaries to loads of its employees, a Gurugram-based non-public firm stated today that it has get a hold of a unique plan to compensate them by means of offering them corporate stocks.
The corporate Eastman Auto and Power Ltd is a "startup".
Managing Director Shekhar Singal stated the company does "not have adequate money" right through initial days and, subsequently, has "decided to offer Employee Stock Ownership Plan (ESOP)".
"The idea is to attract elite talents with ESOP in which full-time employees generally earn share as part of their compensation. It is a reward to the employees for their countless contribution while empowering them to play an integral (role) in our shared future," Singhal stated.
The corporate is working within the fields of energy garage and solar answers, is most likely the primary in Indian's solar sector to supply this scheme.
The initiative's purpose is to succeed in organisational excellence through valuable contributions of employees, the company stated.
As a part of the initiative, 15 per cent of the total selection of employees had been given this scheme. The corporate plans to roll out the scheme for all employees quickly.
It has signed an MoU with its employees prior to they permitted the scheme. "It is a good scheme which makes us feel valued and an integral part of the company. It will motivate us to perform even better to achieve excellence," stated Ashwani Sharma, an worker.
The corporate Eastman Auto and Power Ltd is a "startup".
Managing Director Shekhar Singal stated the company does "not have adequate money" right through initial days and, subsequently, has "decided to offer Employee Stock Ownership Plan (ESOP)".
"The idea is to attract elite talents with ESOP in which full-time employees generally earn share as part of their compensation. It is a reward to the employees for their countless contribution while empowering them to play an integral (role) in our shared future," Singhal stated.
The corporate is working within the fields of energy garage and solar answers, is most likely the primary in Indian's solar sector to supply this scheme.
The initiative's purpose is to succeed in organisational excellence through valuable contributions of employees, the company stated.
As a part of the initiative, 15 per cent of the total selection of employees had been given this scheme. The corporate plans to roll out the scheme for all employees quickly.
It has signed an MoU with its employees prior to they permitted the scheme. "It is a good scheme which makes us feel valued and an integral part of the company. It will motivate us to perform even better to achieve excellence," stated Ashwani Sharma, an worker.
Unable to pay salaries, Gurugram firm offers shares to staff
![Unable to pay salaries, Gurugram firm offers shares to staff]()
Reviewed by Kailash
on
May 26, 2018
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