Reliance Retail Ltd (RRL), the organised retailing subsidiary of Reliance Industries Ltd (RIL), is understood to be readying a major employee stock options plan (Esop). The Esops are a part of RRL?s strategy to reward its employees who the company sees as critical to its ambitious retail rollout strategy.
While the Esops scheme is expected to be upwards of Rs 300-400 crore, there is no confirmation of either the details of the scheme or the number of employees it will cover. An RIL spokesperson merely said the company does not comment on speculation.
However, what is clear is that the Esops is part of a strategy being put in place by RIL for its retail subsidiary. With over 500 stores in 50 cities in place, and a hefty Rs 25,000 crore investment plan lined up, the company feels training its retail business employees is also critical for the booming retail industry. The retail industry is known for high attrition, and hence the Esops is also expected to be a key element of the company?s retention strategy.
?RRL has trained 12,000 people, and more are in line.? sources said.
The company has 10 retail formats and several subsidiaries under RRL for its various formats. Several top-notch executives and CEOs are already in various formats.
According to rough estimates, RRL now has about 8,000 full-time employees and about 15,000 associates.
The rollouts cover various areas like food and grocery, FMCG, health and wellness, apparels, electronics goods, lifestyle products and services, home and furniture, luxury goods, financial and travel advisory services, entertainment and information and educational products and services.