Kovai.co Rewards Loyalty with Major Employee Bonus

Kovai.co, a Tamil Nadu-based SaaS company, has announced a Rs 14.5 crore bonus for 140 employees as recognition for their service. Employees who joined before December 31, 2022, qualify for this bonus. The initiative, 'Together We Grow,' aims to distribute company profits among staff. The CEO emphasizes cash incentives over stock options.

Kovai.co, a Software-as-a-Service company based in Tamil Nadu, has announced a significant financial reward for its employees. The firm is distributing approximately Rs 14.5 crore as bonuses to around 140 out of its 260 staff members, in recognition of their dedicated service.

The 'Together We Grow' initiative ensures that employees who joined Kovai.co on or before December 31, 2022, and have completed three years of tenure, receive 50% of their gross annual salary as a bonus. This initiative aims to share the company's profits with its workforce.

Company CEO and Founder, Saravana Kumar, noted the importance of rewarding employees contributing to the company's success, opting for cash bonuses instead of stock options. The firm recently acquired Bengaluru-based Floik to enhance its AI-powered product offerings.

(With inputs from agencies.)