Thursday, October 2, 2025
spot_img

Piramal Group rolls out new retention plan ‘LTI Program’

spot_img
- Advertisement -

A global business conglomerate with diverse interests in Pharma, Financial Services, and Real Estate Piramal Group has rolled out a retention plan named “Long-term incentives (LTI)”.

Long-term incentives (LTI) are a mix of stocks and discounted stocks, and the overall compensation includes LTI, bonus, and fixed payouts. The LTI plan was rolled out in the company to lower the attrition rate.

According to Mint, This initiative will benefit 280 middle and senior management employees of the company. However, previously it benefited 70 of the senior employees in the organization.

Vikram Bector, Chief Human Resources Officer (CHRO), Piramal Group said, “From around 70 senior leaders, most of whom directly reported to the CXOs/business heads, we have gone down to offering long-term incentives to around 280 mid to senior leaders, which is a four-fold increase in our employee base covered under this program across our three businesses.”

“The reasons are both internal and external. A large number of our employees across levels have been instrumental in helping the businesses grow in India and globally, hence it is only logical that we reward them for their hard work”, Vikram Bector Bector added.

“We also proactively and continuously benchmark our total reward practices with competitors and this is a result of those efforts as well,” Vikram Bector further said.

Led by Mr. Ajay Piramal, the Chairman, Piramal Group has offices in over 30 countries with a Team of over 10,000 people from 21 diverse nationalities. Additionally, it has a brand presence in over 100 global markets.

It has promoted 12% of the employees each year in the period of two years. Additionally, The company has also worked on releasing the employee shortlisted for another vertical within the exact and official notice period. This has resulted in the financial services, 60% of its hiring have been performed through reference.

spot_img

Editorial

Why TCS Deferred FY25 Salary Hike: Better Hike Ahead?

TCS had initially announced its annual salary hike during...

Deloitte, PWC, EY, KPMG to Hire 1 Lakh People in India in FY25

According to estimates from top company officials and industry...

Higher EPS Pension Application Stuck: A Step-by-Step Guide to Fix

Nearly 97,640 Provident Fund (PF) members and pensioners under...

Employee Benefits at India’s Big 4 Firms Deloitte, PwC , EY, KPMG

The Big 4 firms; Deloitte, PwC (PricewaterhouseCoopers), EY (Ernst...

TCS Announces 4-8% Salary Hike for FY25, Lowest in Last 4 Years

Tata Consultancy Services (TCS), India's largest IT services provider,...

Must Read

KPMG is hiring for various roles; HR, and WFO/WFH jobs- Apply

One of the leading providers of risk, financial, and...

Tata Chemicals celebrates National Wildlife Week

As India celebrated National Wildlife Week, intending to raise...

Ola Cab CEO Hemant Bakshi resigns; Company plans 200 job cuts

Hemant Bakshi, who served as CEO of Ola Cabs...

Accenture Elevates Kishore Durg as Group Operating Officer- Tech

Global consulting and technology services giant Accenture has elevated Kishore Durg as...

Fiat Chrysler to invest $250 million in India unit to launch new SUVs

Fiat Chrysler to invest $250 million in India unit...

Archana takes over as Chairperson of Mumbai chapter of FICCI Ladies Organisation

The Mumbai chapter of the FICCI Ladies Organisation (FLO)...

Effective Talent Shopping And Management

The phrase “Employer of Choice” represents a whole new design...

Related Articles

Sheenu Pradhan
Sheenu Pradhanhttps://sightsinplus.com/
Sheenu Pradhan, Editor Content, SightsIn Plus. She has over 8 years of experience in human resources. Prior to this, she has been associated with Wictor Chemicals India, Wipro, and Shakti Plas Industry.