Even when Flipkart Internet Pvt Ltd, a subsidiary company of the e-commerce giant is running into more than Rs 1,000 crore net loss, it is paying more than Rs 1 crore to over 23 employees, the company said in its filing with the Registrar of Companies (RoC).
Mekin Maheshwari, who left the company in September this year drew the largest annual remuneration of Rs 18.73 crore as the chief people officer in 2014-15. Maheshwari is now on the board of Flipkart on an advisory role. The employee expense of Flipkart Internet for 2014-15 was Rs 476 crore.
The annual remuneration of its employees revealed by Flipkart in RoC is only for its consumer facing subsidiary Flipkart Internet and not for the other subsidiaries such as Flipkart Online Services Pvt Ltd, Flipkart Digital Media Pvt Ltd, Flipkart Logistics Pvt Ltd, Flipkart India Pvt Ltd, etc.
In the recent past with e-commerce war getting tougher and scathing it has become challenging to retain talent, especially at the senior level. The challenge of hiring senior level staff from the same talent pool available for everyone has seen salaries sky-rocket.
High salary structure also attracted a lot of talent from the Silicon Valley to India. In the past year or so, many online companies like Flipkart, Snapdeal, Paytm, etc. have hired managerial level employees from global tech companies such as Google, Motorola. Microsoft, Adobe, etc.