This would be in addition to the employees’ existing compensation structure.
SG Analytics, a research and analytics firm based in Pune, has announced a ‘Profit Share Plan’, the first of its kind in its industry. All the company’s full-time employees will be covered under this plan. This would be in addition to the employees’ existing compensation structure.
According to Sushant Gupta, founder and CEO, SG Analytics, starting this year, we were initiating a company-wide profit share plan wherein, based on certain criteria, a share of profits of the company was going to be distributed across all the employees. The profits would be distributed evenly across all the employees, irrespective of the seniority, effectively making them owners of the company, Gupta said. This plan would help employees achieve the liquidity which the Employee Stock Option Plan (ESOP) could not, Gupta said.
SG Analytics has 900 employees, with 650 full-time employees and the remaining consultants. The company is headquartered in Pune with offices in New York, Seattle, Austin, London, Zurich and Hyderabad.
Vineet Agarwal, co-CEO, SG Analytics, said the company had witnessed a growth of around 30% in FY20-21. The company conducted two hiring drives during the pandemic and onboarded over 200 professionals in 2020.