Ideas2IT Revolutionizes Corporate Culture with Unprecedented 33% Employee Ownership Program
- ByStartupStory | January 3, 2024
Ideas2IT Technologies, an innovation-driven product engineering company valued over $100 million, has announced a revolutionary employee ownership program. The company is set to grant its employees an unparalleled 33% ownership stake, a move that goes beyond traditional wealth-sharing initiatives such as ESOPs, bonuses, incentives, profit-sharing, or stock options.
This initiative sets a new standard in corporate practices, aiming to reward and empower its workforce with a significant ownership stake. Unlike conventional plans that vest over time, this program offers direct equity ownership, highlighting an employee’s alignment with the company’s core values and their pivotal role in its development.
Murali Vivekanandan, Founder of Ideas2IT, emphasized the motivation behind this groundbreaking initiative, stating, “We believe that to nurture exceptional talent and cultivate a workspace that synergizes innovation, we need our employees to genuinely possess the feeling of ownership. The motivation behind this unprecedented initiative is an emotional commitment to build a top-tier product engineering company from India, with employees as true partners.”
This move follows a previous initiative by Ideas2IT in 2022, where the company gifted 100 Maruti Suzuki cars to its most trusted employees. Doubling down on this promise, Ideas2IT plans to add another 50 cars this year.
The Employee Ownership Program is distinct from traditional ESOPs and equity-sharing schemes. It goes beyond merely distributing shares, offering true founder privileges, including a say in the company’s trajectory. The program is designed as an annual, continuous rewarding exercise, expanding the equity pool with deserving employees who embody the community spirit, demonstrate exceptional attitude and passion, and opt for loyalty by choice.
The selection process diverges from the typical ESOP allocation, focusing on values-driven contributions rather than just skill sets. Once employees receive ownership, they are encouraged to further their contributions to the community and maximize their impact with greater enthusiasm. Notably, the equity remains with the employees even if they part ways with the company, without affecting their salary structure.
Murali Vivekanandan expressed that this initiative is not intended to compensate for any other aspect of employment but to acknowledge and reward intrinsic worth and dedication.
About Ideas2IT:
Founded in 2009 by Murali Vivekanandan and Bhavani Raman, Ideas2IT Technologies is a leading product engineering firm based in India. With a team of 700 employees, the company collaborates with ambitious technology initiatives of large enterprises and fast-growing startups globally. Headquartered in Dallas and Chennai, Ideas2IT’s expertise spans AI/ML, Cloud and Application Development, and Modernization, making it a world-class organization in the technology space.
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