the monitor

Alpha Direct to offer employees 20% ownership

Arun Iyer. PIC: AMOGELANG BATOLOKI
Arun Iyer. PIC: AMOGELANG BATOLOKI

Alpha Direct Insurance has revealed plans to offer 20% of the company to employees as part of their 10th anniversary celebration.

The company's co-founder and CEO, Arun Iyer, told MonitorBusiness that the decision was taken and approved two years ago by the board.

"We have employees who have been with the company since inception and these would be the first to be offered stock options,” he said. “This process will solely be guided by the employees' performances. “We have a performance management system and the idea is that as the organisation grows, performs, and generates returns, then we allocate stake options to all the employees.”

Editor's Comment
Get back what was stolen, and lock the door

That a single private law firm pocketed P6.5 million for just four cases, out of a total P11.1 million paid for 25 matters, reeks of a system that was not merely disorganised but open to abuse.Bayford has taken a welcome first step by telling the Public Accounts Committee the truth. Now he must act decisively to ensure it never happens again and that any money lost to wrongdoing is recovered.The figures are staggering. Whilst ordinary Batswana...

Have a Story? Send Us a tip
arrow up