This appraisal season startups are setting the bar at a whole new high when it comes to rewarding top talent. The best performers at some of these firms have seen pay packages double during this round of increments while at others, they will be taking home increments of 40-50% plus. This is apart from hefty cash bonuses and ESOPs.
At least two startups Bengaluru based Wooqer and MyRefers, a referralbased jobs marketplace will be doubling star performers’ salaries this year.
At Wooqer, increments have gone up to a maximum of 120% and seven top performers have been gifted a trip to the Maldives. ESOPs will also be given as a retention measure to top performers.
Startups are flush with (venture capital) funds and want to attract and retain the best talent, says Anandorup Ghose, rewards consulting practice leader at compensation tracker Aon Hewitt India.
So, Delhi startup Wingify will pay up to 40% to its ‘rockstars’ while online recruiter TalentPad is planning increments of up to 50%. At mass market online retailer ShopClues, high performers will get a 40% increment compared with last year’s 25%.
ESOPs and bonuses are also being paid out. “We have grown five times in the past year. Conceptually we believe in sharing the wealth,” says Radhika Aggarwal, co-founder and chief business officer, ShopClues.
Source – ETRetail