This company plans hikes, advance bonuses for employees

As the start-up ecosystem undergoes revenue losses and client attrition, 5paisa.com had a good quarter recently in terms of client addition and continues the streak of business growth in the April-June period so far.

Amid pay cuts and layoffs across sectors, discount broker 5paisa.com on Wednesday announced salary hikes of up to 15 per cent and advance bonus pay-outs to boost employee morale.

The move is also aimed at helping employees tide over the difficult times amid the COVID-19 outbreak, the country's only listed discount broker said in a statement.

As the start-up ecosystem undergoes revenue losses and client attrition, 5paisa.com had a good quarter recently in terms of client addition and continues the streak of business growth in the April-June period so far, it added.

The company said it on-boarded over 1.2 lakh customers in the fourth quarter of fiscal year 2019-20.

"Within a span of four years, 5paisa.com has become a well-managed fintech firm with focus on efficient cost management and advanced technology.

“While we face uncertainties, we are also aligning ourselves to prioritise on employee benefits," the company's CEO Prakarsh Gagdani said.

"We have given hikes in the range of 7 per cent to 15 per cent.

“For a young organisation of about 950 employees with an average age of 28, our effort has always been to motivate and give them the best perks and opportunities.

"Providing an early bonus was such an effort to cheer the spirit across the team as we work towards another record-breaking year," he added.

5paisa.com is a diversified online platform for financial products serving about 5.5 lakh customers.

Apart for peer-to-peer lending, it offers equity, debt and gold on its platform.