In a bid to attract and retain top talent, Paytm has expanded its ESOP pool to 2.4 million equity options. With this addition, the company’s ESOP pool valuation has jumped to $604 million.
The company plans to award the expanded stock options to more employees during its annual performance appraisal. To attract and retain talented professionals, Paytm last year amended certain aspects of its ESOP policy.
“Going back to the spirit of rewarding performance and creating a meritocratic organisation it introduced performance-based ESOPs. These are given at the time of hiring or during the appraisal cycle and all key roles across different levels are eligible for it. It has linked ESOPs to individual goals that are reviewed and approved by the business heads with the flexibility to accommodate multiple scenarios and also meet employees' aspirations,” the company said.
A Paytm spokesperson added: “We consider our ESOP scheme as a great way to promote the spirit of wealth creation among employees and truly believe that every employee is a stakeholder in the company. Our ESOP policy rewards colleagues on the basis of their overall performance and achievements.”