Mukesh Ambani, Chairman, Reliance Industries has planned to reward the top 100 performers with stocks if they stick with the group for more than three years.
The move has come in a bid to retain talent and contain attrition rate as RIL has seen quite a few exits in the last couple of years.
A report in Economic Times said the scheme will roll out 10-15 per cent of the salaries of its top 100 performers if they complete three years in the company.
This retention measure, christened Long-Term Incentive Plan (LTIP), will be for the high potentials in the group who earn Rs 2 crore on an average, said the report.The programme could mean stocks worth more than Rs 20-30 lakh over and above the salary, the report added.
RIL will be the second company to offer LTIPs this year if the scheme gets implemented. In April, Tata Sons proposed to reward top-rung executives at the group for loyalty with longterm incentives (LTIs) in the form of cash.
Meanwhile, Infosys also brought back its employee stock option plan (ESOP) for junior to middle level management staff in July, in order to control the rising attrition in the company.