E-commerce major snapdeal to give 20% salary hike and above for its top performers as part of initiative to become "meritocracy-led" organization. The hiked pay will be effective from April 1, will also include ESOPs for top performers.
Nearly 5-15% of the company's employees will benefit, it is important to retain talent and these efforts keep employees motivated and committed to the company's goals. Last year snapdeal gave 16% hike to top performers. Snapdeal believes on meritocracy as people not meeting their KRSs (targets) are given an opportunity to improve and this year 200 employees on a 'performance improvement' notice.
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