About 140 employees of Kovai.co have received a bonus equal to 50 per cent of their gross annual salary. These are employees who joined the B2B SaaS company on or before 31 December 2022. About 80 employees have already received this reward for their hard work with their January salary.
The Coimbatore-based company is giving away Rs 14.5 crore in bonuses to employees who have completed three years of service. This reward is part of the company’s initiative aptly titled ‘Together We Grow’. This programme was launched in 2022 to enable the company to share its profits with its employees.
Interestingly, the company does not believe in employee stock ownership plans or shares, as it does not put actual money in the hands of the employees. The employees cannot realise the wealth till the company raises capital or lists its shares
The company believes in giving rewards in the form of cash so that the money can be used by the employees immediately to meet their immediate financial needs, such as repay loans or make investments or buy something they really need.
Saravana Kumar is the CEO and founder of Kovai.co, a company known for its products, BizTalk360, Document360 and Turbo360. The company’s global team of over 260 members operates from offices in London, Chennai and Coimbatore.
Kovai.co recently acquired Floik, a Bengaluru-based company founded in 2022.
