After stock options, Infosys to offer incentives to attract and retain valued employees
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India's second largest software exporter
Infosys COO Pravin Rao told ET that the company was in the process of finalising the new stock option plan and will be alloting 1 to 1.5% of the company's equity to create a stock pool for top executives. The approval of shareholders will be sought soon.
Even though Infosys’s employee stock option plan (ESOP) had set new standards for employee benefits, it was discontinued in the early 2000s because the company was hiring thousands of employees every year at the peak of outsourcing boom.
"Today if you look at global technology companies, especially at a senior level, stock compensation is very big element of their strategy. And at times, when we're trying to recruit some key people from outside, we run into a challenge since we've discontinued the options plan," said Rao.
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