Oyo has decided to offer its employees deeply discounted ESOPs. This would mean that all the employees of Oyo will be enabled to Oyo shares at a deeply discounted price. This will be subject to requisite corporate approvals. This is the first time that Oyo is giving this ESOP benefit to such a large part of the employees of the organization.

Oyo is going aggressive in the post COVID scenario. Oyo has also decided to give its technology team increments and promotions as well as pay back salary that was deducted over the last four months. In April Oyo had asked employees to take a 25% pay cut and this applied to their 10,000 employees across the company hierarchy!

The deeply discounted ESOP is designed to retail the best of talent within the company and also to reward its employees to eventually become stakeholders in the company. This has traditionally been the best way of retaining talent and that in the post COVID scenario Oyo sees that as the best way to build long term relationships with the employees.