PhonePe launches Employee Stock Option Plan(ESOP) for its 2,200 employees across all levels, including freshers. It is one of the largest ESOP by a startup. Each employee is issued ESOP of $5,000 (over ₹3 lakh). The total value of shares is over $200 million or ₹1,500 crore.
Manmeet Sandhu, Chief People Officer, PhonePe said, “By having ESOPs at a minimum of $5000 for all levels, we enable every employee in the organisation to participate in the wealth generation opportunity they have helped create — Karte Ja, Badhte Ja”.
“This encourages everyone to put the organisation first. The organisation’s success is their success,” he further added.
PhonePe had a little less 500 employees under the ESOP plan as of December 2020.