Licious Rolls Out New ESOPs Plan More than 1,000 existing and new Licians would be eligible to avail this industry-first opportunity.
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Licious, the D2C Unicorn, has introduced an industry-first initiative. Starting on January 1st 2022, all eligible Licians (employees at Licious) will have their ESOPs vested daily. They will also have the option of anytime liquidation of ESOPs; no terms and conditions will be associated with the liquidation. This opportunity can be availed once in a year period, as mandated by the company law.The company will set aside a pool of secondary funds every year to enable the anytime liquidation.
The "everyday vesting, anytime liquidation' ESOP plan will benefit over 1,000 Licians who currently own ESOPs. Furthermore, all new Licians who receive ESOPs will be added to the pool. All Licians will be actively guided about this opportunity, said a statement.
"It is important to keep your people closest to the organization and reward them for their hard work and contribution. At Licious, we have been recording unprecedented growth and that too in a highly unorganized market. Our employees' contribution in this growth trajectory has been enormous and incentivizing them well is among our priorities. We are conscious of helping Licians meet their personal and financial goals through wealth creation," said Vivek Gupta and Abhay Hanjura, co-founders of Licious, in a joint statement.
This new initiative will give Licians 100 per cent control over their vested ESOPs. Licious has the most inclusive ESOPs programme in India that benefits employees across functions including processing centre staff, delivery boys and corporate employees. Earlier this year, the company also extended a buy back option worth INR 30 crore which provided meaningful and real time wealth creation opportunities for the employees, added the statement.
