Noida : Classplus, a mobile platform that helps coaching institutes, teachers, and content creators launch their own branded teaching apps, has announced an industry first ReSOP policy for all its employees. Under this unique policy, the company is offering stock options with a faster vesting schedule as referral bonus to the employees who refer suitable candidates for open positions at Classplus.
Talking about the ReSOP policy, Mukul Rustagi, CEO and Co-Founder, Classplus said, “We believe in creating long term wealth for our people and introduced ReSOPs to help them accumulate stocks regardless of their role, and their experience at Classplus. We did not want to create a league or a competition for our team. We believe that everyone should win and become a shareholder of Classplus. Plus, someone who brings their friend to work contributes significantly to our growth and stock options that compound exponentially are a more fitting reward for them than just cash.”
The ReSOPs are expected to encourage existing employees to refer candidates from their network, thereby helping the organization not only fulfill its hiring needs but also elevate the workplace culture by hiring like minded talent. The ReSOPs will vest fully in just one year, 400% times faster than the normal stock options. More than 700+ Classplus employees are eligible for this policy for referring candidates from entry to senior level positions. This innovative ESOP policy will go a long way in helping the organization hire great talent in a short span of time in this highly competitive job market.
“Getting ESOPs for a successful referral? I was intrigued! I love to work around friends and getting ESOPs for a successful referral made me excited enough to call every friend of mine. I had the option to choose the standard referral bonus but I believe in Classplus and my future here which is why I opted for the ReSOP policy and now I am a proud shareholder of Classplus.” said an employee who was recently awarded ReSOPs for referring a friend.
Classplus has grown rapidly in the couple of years raising 4 rounds of funding and enabling a digital identity for 100k educators who use the platform to teach over 20 million students across more than 1500+ cities in India. The mobile-first SaaS platform raised $65 million in a Series C round led by Tiger Global in June. The platform facilitates content distribution for not just academic educators, but also non-academic instructors, trainers, and coaches.