ZingHR rolls out ESOPs, increments, out-of-turn promotions to boost employee morale amid COVID-19

-Microsoft-backed company has also rolled out Zing2.0- an upgraded version of the app with personalised modules and revamped features

-People, Profitability, Performance are its three top goals for 2021

Mumbai (Maharashtra) [India], May 31: Microsoft-backed HR cloud-tech company ZingHR has rolled out Employee Stock Ownership Plans (ESOPs), increments, and out-of-turn promotions to boost employee morale and motivate them while working from home amid COVID-19.  The ESOPs will allow approximately30% of the total workforce to own a stake in the company and bolster employee engagement efforts. ZingHR has rolled out annual increments in the range of 15 to 40% and even awarded out-of-turn promotions to 15 to 25% of their employees who have played a role in their Outcomation initiative last year. Its top three top goals for 2021 are People, Profitability, and Performance. The company is also planning to increase the size of the team by 2x by strengthening the leadership team to spearhead global expansion efforts. It also aims to triple the top-line growth and improve business profits this year by better margins.

“We, as a family of employees, have been on a difficult journey in the past year, and everyone has contributed their best. To reward these efforts in this journey, we are offerings ESOPs to over 30% of our team. We aim to imbibe an entrepreneurial culture, giving wings to individual aspirations,” said Prasad Rajappan, Managing Director, ZingHR.

He added: “I have been an employee for some of the years in my career, and I can very much relate to what our employees’ expectations and needs are. I believe that if employees have a sense of ownership, they can significantly contribute to our long-term vision of providing best-in-class HRMS software focussed on OutcomationTM.”

These initiatives come when several companies are laying off employees or implementing a pay cut amid uncertainty induced by the recent surge in coronavirus cases across the country.

The company has also rolled out Zing2.0- an upgraded version of the app with personalised modules and upscaled features.  With an unparalleled suite of capabilities, Zing HR’s new digital user interface will improve the ability to collaborate, engage, and implement agile planning. It also offers access to customised views with key performance metrics and multidimensional reports. It will therefore increase the workforce’s productivity with faster, direct access to the most relevant information.

ZingHR has recently forayed into Australia, Singapore, and Dubai and is set to expand into more new geographies. It is also on an aggressive hiring spree to bolster its expansion efforts.

Venkat Balan, Co-Founder, ZingHR, added, “As we all know, the past year has been difficult for all of us. However, all our employees have put their best efforts into our long-term vision. This initiative is a small contribution from ZingHR for their best efforts”.

Ravi Bajaj, Co-Founder, ZingHR, on the same occasion shared, “We believe that this is the humble way to support our employees for their patience and hard work.”

ZingHR is one of the few global ventures backed by Microsoft, which offers almost all web/mobile-based modules from Hire to Retire Solutions with a state-of-the-art tech supporting those applications. ZingHR’s USP focuses on OUTCOMATION™, which aims to achieve Tangible and Measurable Business Outcomes Like Top Line, EBIDTA, People Efficiency, and People Productivity. The company has constantly updated its technological prowess to deliver a modern and complete HR solution used by over 5 lakh employees in over 500 companies. Some of its esteemed partners include global and regional organisations like HDFC Bank, Muthoot Fincorp, Enrich Salons, Sun Pharmaceuticals, Cloud Nine Hospitals, etc. Recently, ZingHR has expanded into new regions like Australia, UAE, and the Asia Pacific.

For more information or to get in contact with a ZingHR representative in your region, contact info@zinghr.com

Leave a Reply

Your email address will not be published.

Business

OSL Maximises Investments in Odisha; Constructing Home State’s 1st Riverine Jetty

Bhubaneswar (Odisha) [India], September 21: As the Orissa Stevedores Limited (OSL) group, steered by its founder-cum-Managing Director (MD) Shri Mahimananda Mishra, is already a well-known name in myriad of segments of the business spectrum, the enterprising group has maximized most of its investments in the own state of Odisha. OSL Group is going to set […]

Read More
Business

HealthOxide Launches Two New Products for Healthy Hair, Skincare

Surat (Gujarat) [India], September 21: HealthOxide, the largest and most preferred online store for nutraceutical products in India, has expanded its range by launching two new healthy hair and skincare products. HealthOxide makes and sells a range of high-quality and 100% genuine nutraceutical products, including dietary supplements, protein supplements, plant proteins, whey protein supplements, herbal […]

Read More
Business

Revolutionising commerce with Qaddoo: How hyperlocal approach makes the nearest retail shop big digital store

New Delhi, September 21: Qaddoo, a location-based service, born to connect the digital space with the physical world, has launched its application on Google Play Store. With an emphasis on hyperlocal, Qaddoo wants to empower small retailers and local vendors to compete with the biggest digital stores. The aim is to preserve the relationship, and […]

Read More