In conversation with Mr. Vikas Jain, CEO, Labdhi Lifestyle
Mr. Vikas Jain - CEO, Labdhi Lifestyle Limited
ADVERTISEMENT
Why have you announced ESOPs for your employees? Isn't it a rarity among real estate firms?
The reason we are introducing ESOPs is because Labdhi Lifestyle has a tech start up like culture. It provides employees an open environment that is conducive to taking on responsibility, which will have a lasting impact and an opportunity to create value for employees across the spectrum. The formulation of the ESOP strategy is core to the company's ethos of creating value across all key stakeholders.
The ESOP program is a major milestone in our journey to ensure employee motivation, retention, and loyalty. We value our employees and believe that this initiative will allow them to become further invested in the company's culture, growth, and success. Yes, you may say that it is a rarity in the real estate sector.
How will ESOP benefit employees of Labdhi Lifestyle? When is it likely to be completed?
The ESOP program will be highly beneficial to Labdhi Lifestyle's employees. It will give them an opportunity to partake in the Company's growth plan while providing them with a sense of ownership, engagement, and inclusivity. The program will give them an equal opportunity to benefit from the company's financial growth and success. The rollout of the ESOP program will be completed in the next two quarters.
Can employees of real estate companies benefit from ESOPs in the same way as other industries?
Yes, employees of real estate companies can benefit from ESOPs in the same way as employees in other industries. They have the opportunity to become owners of the company and share in its success. It rewards them for their diligence, hard work and makes them stay with the company for a longer period of time. This is also beneficial to the employer, which helps him retain talented resources.
ESOP to be a game changer in driving economic growth
How would ESOP help in reducing the inequality gap and help in terms of financial literacy, wealth creation and creating a strong work culture?
We find a lot of wealth inequality in India, where a minuscule percentage of the very rich own the majority of business wealth. In order to narrow down the gap, people need to be educated on how they can best manage their income and grow their wealth further.
There is a growing realization among businesses to look at the interest of all stakeholders. This will not just benefit the employees but also improve the company's bottom line. Studies have shown that where companies have at least 30% of the shares owned by employees, and who have access to ownership, are more productive, grow faster and stay longer than their counterparts in other companies.
For this to happen, we need to change the mindset of corporate India. Ownership does not belong to just the top management. It needs to be administered to more hands than just a few. The concept of ownership will bring in the inclusivity of employees, which is important for the healthy growth of the company.
How can an ESOP program impact Labdhi Lifestyle and its employees?
An ESOP program at Labdhi Lifestyle will impact the company and its employees positively. It will help captivate and retain talented peers by offering them a unique employee benefit and a sense of ownership. Employees who participate in the ESOP program may feel more motivated and engaged, as their efforts directly assist to the company's success and potentially increase the value of their ESOP shares over time.
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
