• The company’s partner stock ownership plan (PSOP) will benefit service partners over the next 5-7 years at zero cost
• The first bit of the total stock awards will be worth $9.9 million and disbursed in the coming 3-4 years

Urban Company, an industry-first initiative of broad-spectrum home services, has reportedly announced a partner stock ownership plan (PSOP) applicable to all of the company’s gig workers and service providers.

As a part of the plan, the company will award stocks adding up to $19.8 billion to its extensive network of service providers in the next 5 to 7 years of span at zero cost.

While the plan is still under works and efforts are made to build trust, the company is already moving forward with the disbursal of PSOP’s first share of stock worth $9.9 million over the foreseeable period (3-4 years).

Essentially, Urban Company ensures that the stock awarding process will be ethical, fair, transparent, and meritocratic, assessing service providers based on their performance and longevity with the platform.

Speaking on the newly launched plan, Raghav Chandra, Co-founder of Urban Company, claims that PSOP will allow thousands of service partners to become a company shareholder, setting in loop broad-based wealth creation system via equity sharing.

Mr. Chandra also promoted the initiative to be a first-of-its-kind plan to be launched globally, which allows gig workers to rise up to the shareholder seat in the very company they work with.

By enabling service partners to reap benefits from the company’s growth in near future, the PSOP plan underpins Urban Company’s commitment to strengthen this group and address them as equal stakeholders in the company’s journey.

Moreover, PSOP adds to the multiple efforts of Urban Company to ensure proactive support to its partners by designing programs for training, up-skilling, personal loans, group insurance coverage, and vaccination support.

Source Credit: https://www.moneycontrol.com/news/business/urban-company-announces-rs-150-crore-worth-of-partner-stock-ownership-plans-8182781.html