SG Analytics, a Pune-based research and analytics firm has announced a ‘Profit Share Plan’ starting this year, the first of its kind in its industry. According to this plan, all the company’s full-time employees will be covered under either the Profit Share Plan or the Employee Stock Option Plan. This inclusion will be in addition to its existing compensation structure.
According to Sushant Gupta, Founder & CEO, SG Analytics, “SGA is a people-first company. In line with this philosophy, starting this year, we are initiating a company-wide profit share plan wherein, based on certain criteria, a share of profits of the company are going to be distributed evenly across all the employees. I am particularly excited about this plan because it helps the employees achieve liquidity which an ESOP plan does not do. Also, very importantly, the profits will be distributed evenly across all the employees, irrespective of the seniority, effectively making them owners of the company. The objective of this initiative is to empower and motivate every member of the SGA family to work towards taking the SGA success story to greater heights and grow and prosper together.”
According to Vineet Agarwal, Co-CEO, SG Analytics, “In the last one year, we have fielded many unexpected curveballs but have ensured resilience through the extensive adoption of technology and open channels of communication across the board, to ensure business continuity for our clients and ourselves. We have witnessed a growth of ~30% in FY20-21 and, through it, all, the safety, health, and wellness of all our employees have been paramount for us.”
The company has also announced that starting this year, all full-time employees of SG Analytics and their immediate family members will be covered under company-sponsored medical health insurance. All employees will also be covered under the group personal accidental plan for up to three times their remuneration.
SG Analytics conducted two major hiring drives during the pandemic to provide the right opportunities to talented professionals at a time when other organizations were going through major layoffs. During the 2020 lockdown alone, the company had onboarded over 200 professionals through its virtual onboarding process, underscoring its continuous growth. SGA, along with its Founder & CEO, Sushant Gupta also launched ‘Ek Nishchay’, a COVID-19 relief initiative that positively impacted the lives of nearly 40,000 pandemic affected individuals (10,000 families) in Pune and nearby villages by providing them ration-kits and essential medicines.
News Source: People Matters