This initiative has granted them an opportunity for wealth creation and enabled them to develop a greater sense of belonging to the company.
Netcore Cloud, a globally recognized Martech and CPaaS company, has granted $8 million to its employees as part of the ESOP Liquidation Program (ELP) in two years. The company has concluded a total of 2 ELPs so far, with the previous one being in 2019. The most recent one was during Diwali earlier this month, when 250+ employees were eligible. This second edition of ELP saw a whopping 60% higher value per share than the first one.
Netcore Cloud introduced its ESOPs program in 2006 with an intent to offer Netcorians more value. This initiative has granted them an opportunity for wealth creation and enabled them to develop a greater sense of belonging to the company. Presently 48% of the Netcorians are part of this program which includes employees across all levels. With the reinfusion of the cash-settled ESOP, the company has ensured 25% of Netcore Cloud holding remains with employees for wealth creation, a number that has stayed constant over the years. The scheme has been instrumental in enabling the organization to attract, encourage, retain and motivate employees.
Commenting on the liquidity program, Bhavana Jain, Chief Human Resource Officer at Netcore Cloud, said, “We have witnessed phenomenal growth trajectory, especially in the last three years at 35-40% YoY. This success wouldn’t be possible without the collective conviction and contribution of every Netcorian. We have always believed in our employees’ wealth and value creation, and the ESOPs liquidation scheme is one more step towards that. We are proud that our ESOP has resulted in 400X value appreciation for Netcorians. As we prepare for an IPO in the next 18 months, our employees will be able to reap $100 million as part of the ESOPs program”.
Netcore Cloud recently announced its plans to hire over 800 professionals to its already growing team of 700+ in India and global markets by 2022. The company will be strengthening its team across various departments – Engineering, Product, Pre-Sales & Sales, Marketing, R&D, Customer Success and Geographic Expansion towards its aspirations to strengthen its presence and drive market share in India and overseas.
Netcore Cloud is a ‘proficon’ and a pioneer of intelligent marketing, serving the industry for over 20 years. The company currently empowers all the touchpoints between marketers and customers for over 5,000 clients in 18 countries, delivering 12 bn emails and tracking 100 bn events a month. Since the last two decades, Netcore Cloud has been renowned for revolutionizing the way marketing & product teams engage with the consumers by way of Contextual & Personalized digital experiences. Right from Customer Engagement & Experience, Personalization and Product Experience to Email API and Journey Orchestration, Netcore Cloud’s full-stack of martech solutions have paved the way for global businesses to scale effectively.
Source: Business World