Licious, the Indian D2C unicorn is offering unique ESOPs to its present and former employees or Licians as they are referred to. Come January 2022, all eligible Licians will have their ESOPs vested daily. They can, if they wish, liquidate these ESOPs anytime, without any terms and conditions being associated with the liquidation.
This opportunity may be used after the mandatory one-year period, as per company law. Licious will set aside a pool of secondary funds every year, so that liquidation can happen any time.
This ‘everyday vesting, anytime liquidation” ESOP plan will benefit over 1000 Licians, who own ESOPs at present in its 3,500 strong workforce.
All those who join the Company now will also be added to the pool, and Licious will provide adequate guidance to everyone so that they can leverage the same.
Vivek Gupta and Abhay Hanjura, co-founders, Licious, reveal how the pandemic has only driven home deeper the fact that employees need to be kept close, recognised for their hard work and rewarded for their contribution. They say, “At Licious, we have been recording unprecedented growth and that too in a highly unorganised market. Our employees’ contribution in this growth trajectory has been enormous and incentivising them well is among our priorities”.
Through this novel ESOPs offer, the Company wishes to help “Licians meet their personal and financial goals through wealth creation as we organise the market.”
The unique and unprecedented initiative will “build complete transparency and also give Licians 100 per cent control over their vested ESOPs,” they add.
Licious’ inclusive ESOP programme benefits employees across functions including its processing centre staff and delivery boys.
Earlier this year, Licious had initiated a buyback option worth Rs 30 crore, which provided meaningful and real-time wealth creation opportunities for the employees.
Licious focusses on offering an unmatched range of fresh and quality seafood, meat and meat products.
In just six years Licious has managed to see 300 per cent growth and has served over three million packs of meat products to consumers across 14 Indian cities.
