Reliance Communications, the Anil Dhirubhai Ambani flagship, on Sunday announced an employee stock options (ESOPs) scheme for 20,000 employees of the company and its subsidiaries. Claiming that the scheme would be the largest in the Indian telecom sector, the group said the initiative was in line with its policy "to create value for stakeholders external and internal". The ESOS Compensation Committee of the board of directors of the company approved grant of 17.5 million options to eligible employees based on specified criteria, stated a company release.The company conducted extensive research based on intricate scientific models to formulate an innovative 3-Tier Model that would consider multiple parameters to derive at the number of options to be granted to every individual employee. The three-tier model, incorporating global best practices, would consider multiple parameters including number of years in the company, role, contribution and experience amongst others while categorization under "Founder's Club", "Pioneer's Club" and "Growth Club".
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