Fintech firm in Bengaluru, India, is offering a three-day week with 80% pay off for new employees. The company has 450 employees and expects to employ 1,000 engineers and product managers in the next three years.
As they compete for graduates and workers, Indian companies are offering sweeteners such as more vacation time and gender-neutral parental leave.Slice, a fintech firm in Bengaluru, is offering a three-day week with 80% pay off for new employees.According to Rajan Bajaj, the company's founder, it's a win-win situation because workers are freed to pursue other passions or passions — or other jobs — while still enjoying a stable wage and benefits from Slice, Mr Bajaj, 28, said in a phone interview.People do not want to be tied to a job.As IT outsourcers, Silicon Valley giants, global retailers, and Wall Street banks compete for engineering and product talent alongside hundreds of fast-growing startups, Slice is hoping that its model would make it stand out from the pack.Mr Bajaj said that the organization has 450 employees and expects to employ 1,000 engineers and product managers in the next three years.Working a three-day week, employees receive full compensation and will spend the rest of their time fulfilling a startup dream, searching for a co-founder, or discovering a non-work passion.Since experiments showed that productivity wouldnt suffer as a result, Henry Ford introduced a five-day work week in lieu of the typical six days in 1926. Proponents of shorter weeks now refer to studies showing a rise in employee engagement and well-being, compelled countries such as Ireland and Iceland to try them out.Amazon.com Inc. introduced a four-day week for select staff in 2018 and now China is trying to keep its excessive working hours in check, as the Indian startup community's work-centered culture has disenchanted some workers, while others are milking the market for all its value.Mr Bajaj said that engineer salaries have tripled in the last three years.After many rounds of wage negotiations, bidding wars are common, and employees are known to invent ghost companies. In November, social media platform Meesho announced a companywide 10-day break so workers can unplug and rejuvenate.BharatPe, a 2016 Fintech startup, has offered referral services in Dubai, including BMW bikes, computers, and cricket holidays.Slice is set to begin offering its three-day option on Monday, and it is betting that it will be beneficial: after nearly two years of being restricted to working from home.In 2019, the company introduced its physical card, which featured minimum sign-ups of a minute, cashbacks, and a variety of payment options.Slice sold 110,000 cards last month, making it one of the country's top retailers. Existing employees are eligible to participate in the program if they are a fit, according to Mr Bajaj.Because of this benefit, big tech companies like Google and Amazon do not offer, a three-day work week allows us to attract a certain level of talent.
I love how candidates always "go to the native place with limited connectivity" right after receiving the offer and are unable to respond for a week.— Ritesh Banglani (@banglani) August 27, 2021