NRI tycoon gifts half of his group’s shares to employees
TRIVANDRUM: Aries group head Sohan Roy, whom the Forbes Middle East had last year listed among the 100 top Indian business Owners in the Middle East, will share 50 per cent of his stake in it with his employees.
He announced the unique business model in a press release here on Saturday making the company as a society with employee participation.
He hopes the initiative to make the employees of his multinational conglomerate more “responsible, committed, valued and many more.” “The common factor which paves the way to the success of every organisation is engaged and focused on employees,” the release said.
“While strategies are key to success, a real win for any organisation lies in the execution of the strategy such that the revenue goals are achieved. And this is met by the employees.” The group operates 48 companies in the UAE, Qatar, Bahrain, Oman, Saudi Arabia, Kuwait, Azerbaijan, China, India, Singapore, Malaysia, the USA, the UK, Russia and Italy.
“This gives a feeling of ownership to them. People tend to remember such gratitude for a very long time,” it quotes Roy, a marine engineer, as saying.
The group has also initiated a Parent Pension scheme for employees and pension to retirees, considering the entire company as a family.
Parents get a lifelong pension for their efforts to mould their child as a professional to serve the company.
“It has become a model management principle with better humanitarian values. Aries is perhaps the only company in the world to initiate such a pioneering concept,” he said.