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Grofers Grants 33 Percent Salary Hike for its IT Team

Separator

Grofers, an online grocery delivery company, announced a 33 percent pay raise for its engineering, product, design, and data teams. In a blog post, Albinder Dhindsa, Co-founder and CEO, Grofers wrote, "the entire IT team gets a no-ifs-and-buts 33 percent rise in income starting July”.

Dhindsa said the company's next funding round was secure. Grofers is reportedly raising $100 million from Zomato, according to ET. The investment is believed to be part of a larger financing round, the online grocery company might be valued at approximately $1 billion.

“Now that we are out of the second wave and have secured our next funding round, I believe it is time to launch a number of initiatives that I have been waiting for the proper moment to start”, Dhindsa stated.

Dhindsa stated that the company will be assigning worker inventory possession plans to members of its tech team “depending on how much effect each of them have produced over the last year” in its drive to become a tech-focused organization and to attract and retain high-tech talent.

“Investing extensively in technology will be the only way for us to succeed as a company.” Our DNA must change to that of a technology firm, rather than an e-commerce firm that uses technology. Everything now is a tech concern, from productivity to personalization to marketing”, Dhindsa wrote.

“I'm also aware that, in comparison to other technological firms in the country, we underpay our technical staff. This has two consequences, we are unable to attract the best personnel, and we are unable to motivate our current tech staff. Starting in July, the entire tech crew would receive a no-strings-attached 33 percent pay raise”, he stated.

Grofers, which had planned to list on the tech-heavy Nasdaq through a Cantor Fitzgerald blank-check agency, is now expected to abandon the IPO plan and remain a private company, according to a source who spoke to ET last month.

Dhindsa admitted that Grofers has been underpaying its IT team, claiming that as a result, the company has been unable to attract the top people.

“I'm also aware that, in comparison to other technological firms in the country, we underpay our technical staff. This has two consequences, we are unable to attract the best personnel, and we are unable to motivate our current tech staff. Starting in July, the entire tech crew would receive a no-strings-attached 33 percent pay raise”, he stated.

In the wake of the Covid-19's second wave, the expansion came against increased competition and a massive surge in demand in both metro and non-metro cities.

Tata Digital announced last month that it had purchased a 64 percent interest in groceries e-tailer BigBasket, in one of India's largest such deals.

Reliance's JioMart, Amazon, and Walmart-owned Flipkart are among the other major players in the space, all of which have huge budgets and are expanding their operations.

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