Research and analytics firm SG Analytics (SGA) has announced a ‘Profit Share Plan’ starting this year. According to the plan, all the company’s more than 650 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.
Sushant Gupta, Founder and CEO, SG Analytics, said, “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 the
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,” Gupta added.
Vineet Agarwal, Co-CEO, SG Analytics, said, “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 per cent 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 all full-time employees of SG Analytics and their immediate family members will be covered under company-sponsored medical health insurance, according to a statement.
All employees will also be covered under the group personal accidental plan for up to three times their remuneration. During the 2020 lockdown alone, the company claims to have onboarded over 200 professionals through its virtual onboarding process.
Besides over 650 full-time employees, the company also has about 250
consultants.
Source - https://hr.economictimes.indiatimes.com/news/hrtech/payroll-and-benefits/sg-analytics-announces-profit-share-plan-for-its-employees/82764212
