Reliance Retail is learnt to be readying a major employee stock options plan (Esop), reports Financial Express.
The Esops are a part of the company`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 3-4 billion, there is no confirmation of either the details of the scheme or the number of employees it will cover.
With over 500 stores in 50 cities in place, and a hefty Rs 250 billion 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. Reliance Retail has trained 12,000 people, and more are in line. The company has 10 retail formats and several subsidiaries under Reliance Retail for its various formats.
Shares of the company closed up Rs 51.25, or 2.29%, at Rs 2,292.75. The total volume of shares traded at the BSE was 778,265. (Wednesday)