As a part of e-commerce major, Snapdeal’s efforts to become a meritocracy-led organisation, it will be rolling out annual salary hike of 20 per cent and more and ESOPs for its top performers. However, the quantum of ESOPs is yet to be decided.
“We have moved onto a trimester-based performance review. We want to be a meritocracy-led organisation and we want to reward our top performers. This year these top performers across functions, will get at least 20 per cent hike,” Snapdeal Vice President (HR) Saurabh Nigam told PTI.
The increase in salary will be effective from April 1. The company aims to retain its talent and hopes these efforts will keep the employees motivated and committed to the company’s goals. There are around 6,000 employees working with Snapdeal across Delhi, Gurgaon and Bengaluru.
Last year, the e-commerce major rolled out a hike of 16 per cent and more for its top performers. Recently, the company has also put 200 employees on a performance improvement notice where they are given an opportunity to improve performance within 30 days. The failure in improvement can result in termination of services.
In the past few years, to drive growth in these new technology-driven businesses, companies like Flipkart, Ola and Snapdeal have hired top talent from giants like Google, Microsoft, P&G, Bharti Airtel and alike offering heavy paychecks to the executives.