New Delhi: Codleo Consulting, New Delhi-based young IT Solutions start-up recently announced that they are contemplating issuance of employee stock options (also known as ESOP) to its full time & permanent employees. They are planning to launch this ESOP scheme in the coming financial year 2021-22. Codleo’s ESOP scheme is open to all full-time & permanent employees of the company and is awarded based on performance and loyalty. More than 25% of all employees, from senior leaders to system architects, developers and customer success executives are covered under it. The aim is to motivate, retain, and attract employees to participate in Codleo’s vision of “making a company with a heart”. ESOPs provide an opportunity to these employees to create significant wealth that would not be possible from salaries alone.
Additionally, the management has also announced its intention to distribute 12 + 1 month salary by the end of this financial year. This one month’s extra salary will be distributed as an employee bonus to all full time & permanent employees under the “Employees motivation scheme”. The bonus salary would eventually amount to 100 – 200% of the employee’s salary based on their performance.
Sharing his thought process behind the implementation of this scheme, Mr. RS Maan, Global CRO, Codleo says, “Our hard-working and diligent team of Codleons is the reason why Codleo is where it is today. Their role in making Codleo a start-up success story is second to none. We expect that the ESOP offer will provide a sense of pride & ownership among its employees, higher satisfaction, and even lower attrition levels. A happy team will eventually contribute to optimal working and they will be able to deliver the best. ‘A happy employee keeps a Company happy’ is the mantra that we live by. With an aim to carry forward our employee-centric approach ahead, we thought of implementing the ESOP scheme. This announcement is indeed an expression of the management’s gratitude to its growing team of techies. We hope we eventually grow our bond with our employees and our team keeps on expanding just like a happy family. ”
Salesforce CRM Practice Lead Mohit Sharma said “We firmly believe our team members are our biggest strength. Our short journey has been breath taking, especially in terms of our growth in both scale and speed. Codleo is a special entity, where motivated team members are active in problem-solving innovation and collaboration”.
Empirical evidence has shown that employee ownership companies outperform those which are not by a huge margin. Various reports also suggest that companies offering ESOP grow 2.5% per year with regard to sales and productivity vis-a-vis those who do not. This increases employee stability in companies as well by the tune of 30%. Keeping these critical aspects in mind, the start-up took this major decision of implementation of the ESOP policy.
Codleo Consulting is known for keeping its employees at the heart of its operations. They focus on adopting the best practices for effective employee engagement and the ESOP scheme is the latest entrant in the same.
The Group is having a global presence and possesses a team of around 60+ employees. The terms of the ESOP are under careful consideration at the time of the press release.
