Talented sets Rs 8 lakh minimum pay, announces ESOP buyback at 4.5x premium

New Delhi: The creative agency Talented has announced a list of updates on employee compensation.

Gautam Reghunath, Co-Founder and CEO, Talented Agency, shared the announcement in a LinkedIn post. The LinkedIn post included three updates.

The company announced its first Employee Stock Ownership Plan (ESOP) buyback program in late January.

As per the announcement, eligible employees could opt to convert vested parts of their equity into immediate cash value at a 4.5x premium.

The company is also creating a Founders Pool. The profit-sharing pool will be distributed among the team members of the agency at the end of this financial year. The pool will include every employee.

Additionally, the distribution from the pool will not be arbitrary and will take into account internal performance ratings, employees’ tenure in the agency, and their alignment with Talented’s core values and principles.

Lastly, starting today, the company is setting an Rs 8 lakh floor for compensation across all roles. The minimum compensation, including entry-level jobs, in the company will now be Rs 8 lakh.

Reghunath said, "There’s so much more work to do in pricing ourselves better as an industry and improving margins. That remains the single biggest way to fix so many of the issues that have plagued us over the last few decades. For now, we’re hopeful that this move will naturally raise the calibre of talent that we’re able to attract for our junior positions."

Current employees under this level or under Rs 10 lakh, can expect their compensation to be immediately adjusted upward.

Apart from monetary updates, the agency has also introduced certain policies. The agency will provide a one-month paid sabbatical to any employee completing three years.

A fully-paid family-wide insurance plan covering both parents of any employee has also been implemented. A comp-off policy cushioning for weekend work and flexible thinking around time off will also be available for employees.

He concluded, "They might merely appear as investments in our team and culture for now, yet ultimately, they will also impact our ability to deliver extraordinary value to our clients. This is our bet on human potential."