Lattice, a San Francisco-based company is offering funds to the tune of $100,000 to employees who decide to leave the Company and set up their own business within a year.
This is rather unique at a time when companies are doing everything possible to retain their employees.
This funding is offered in return for two per cent stake in the employee’s business / startup. The stake may be decreased if the startup manages to obtain a valuation of over $5 million.
Inc. magazine reports that Jack Altman and Eric Koslow, co-founders, Lattice, had initiated this fund in 2020, calling it ‘Invest in your People’. Two employees have been reported to have successfully used the fund till date, with one setting up a marketing firm and the other a data company.
Lattice has been known for its focus on employees. In addition to coaching programmes, it offers weekly stipends to employees as well as a month’s sabbatical to those who have completed at least four years in the Company. Not surprisingly, the people-success platform has witnessed very low attrition rates.
In February 2022, Lattice had moved to a remote-first hybrid model. Therefore, Latticians were given the option to work either remotely or connected to an office, and were promised complete support from the organisation, regardless of their choice.
At the time, the blog post by Dave Carhart, VP – people, Lattice, had said that “We will actively invest in bringing people together to collaborate and build relationships in person; this would be subject to current COVID/health risks and we will be flexible when there are individual limitations or concerns”.