THIS company paying over Rs 77 lakh to employees for quitting job, but there's a catch

New Delhi: At a time when companies are going extra miles to retain staff and keep attrition rate under control, a San Francisco-based company is actually paying its employees to quit their jobs.

As per a report in the Inc. magazine, the founders of management software company Lattice has actually started a fund of $100,000 (approximately Rs 77,66,855) to employees who quit their jobs to start their own businesses within a year. However, this funding comes with a condition. Lattice retains a 2 percent equity stake in these businesses funded by it, or less if these businesses attract a valuation of more than $5 million, said Inc. magazine.

Lattice co-founders Jack Altman and Eric Koslow had started an investments fund called “Invest In Your People” in 2020. The investment fund has so far been utilized by two Lattice employees. While one founded a marketing start-up, the other has ventured into a data firm, Inc. magazine wrote.

Meanwhile, amidst the sharp attrition rate in India, recruiters across the country are indicating a strong hiring sentiment for the first half of 2022. The Naukri Hiring Outlook Survey 2022 revealed that 57 percent of recruiters indicated both new and replacement hiring in their organisations in the coming months till June 2022 vis-a-vis 51 percent in last year's survey. Interestingly, 62 per cent of the recruiters expect the hiring to go back to pre-Covid levels in their organisations by June 2022.