Gurgaon firm offers shares as compensation to staff

The idea is to attract elite talents with ESOP in which full-time employees generally earn share as part of their compensation.

Published: 25th May 2018 01:19 PM  |   Last Updated: 25th May 2018 05:25 PM   |  A+A-

money, 500 currency, cash

Representational Image (File | PTI)


GURGAON: A Gurgaon-based private firm said today that it has come up with a novel plan to compensate its hundreds of employees by offering them company shares.

The company Eastman Auto and Power Ltd said the plan is a "reward to employees" for their contribution.

"It will go a long way in inculcating a sense of ownership among employees and make them partners in the quest to achieve professional excellence," Managing Director Shekhar Singhal said.

He said the company has decided to offer Employee Stock Ownership Plan (ESOP) to its staffers.

"We have funds and are monetary strong to pay salaries to our employees but the idea is to attract elite talents with ESOP in which full-time employees generally earn share as part of their compensation," Singhal said.

The company works in the fields of energy storage and solar solutions. It said the plan's objective is to achieve organisational excellence through valuable contributions from employees.

As part of the plan, 15 per cent of the total number of employees have been given this scheme. The company plans to roll out the scheme for all employees soon and it has signed an MoU with its employees before they accepted the scheme.

The company's employees have welcomed the initiative.

"ESOP is a noble initiative which makes us feel valued and an integral part of the company. It will motivate us to perform even better to achieve excellence," Ashwani Sharma, an employee, said.

"An ESOP is a trust fund that owns the company, in which all full-time employees generally earn shares as part of their compensation," Sharma said.

"Startups use ESOPs as a tool to attract top talent as they cannot afford to pay higher salaries initially while companies use ESOPs as a retention tool for top-performing employees," Singhal added.

In 2014, Indian startups Flipkart, and Snapdeal offered ESOPs to new recruits to attract talent.GURGAON:


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp