JSW Group Rolls Out ESOP Plan for Entire JSW Collective
According to media reports, JSW Group announced Employee Offer Stock Options to blue-collar as well as white collar workers to help several thousand employees to generate wealth. JSW plans to run the programme through its employee welfare trust, which will procure shares from the secondary market and allocate them to the employees on the days of vesting and exercise by the employees. JSW Group Human Resources President Mr Dilip Pattanayak said “It will cover all employees of the steel and energy unit, from the shop-floor employee to the middle level to top management,
The stock options will be vested over a period of four years wherein 25% each will be vested after the first and second year and the rest after the fourth year.
Manufacturing firms typically offer employee stock options to their mid and senior level employees, leaving out blue collar workers from the benefit.