Food delivery giant Deliveroo has just announced that it will make all its permanent staff shareholders in the company.
This move, worth nearly £10 million (~S$18 million), will mean that the majority of the 2,000 permanent staff at Deliveroo, globally, will be given share options in the company.
In Singapore, this move will only be applicable to over 60 employees.
According to Deliveroo, the announcement will apply to all current and future permanent employees.
Its fleet of delivery riders, who are classified as freelancers rather than permanent employees, will not have a share in this windfall.
While offering staff share options is a common way for firms to recruit senior staff, very few offer them universally to all, regardless of seniority and at all levels.
In a message to all employees worldwide, Will Shu, founder and CEO of Deliveroo said that he wanted all his staff "to be owners" and that the share options was "his way of thanking staff at the company".
"Our phenomenal growth and success has been made possible thanks to the hard work, commitment and passion of the people who make this company what it is and that deserves recognition, which is why I want all employees to be owners in Deliveroo to have a real stake in the company's future as we expand and grow."
This article was first published on Vulcan Post