The Noida-based Indian eCommerce payment system and digital payment platform Paytm, recently revealed that it is setting INR 250 Crores to build the team by hiring 500 more. The digital payments firm in September last year announced to invest INR 250 Crore in its business over the next six months to scale up product and technology team and set up new business verticals.

This current plan is to invest in ESOPs to pool high-performing employees and new hires.With therapid growth in its transaction portfolio, Paytm will be be hiring people for various roles for not just product and technology but also for other appellations.

"Paytm has a high-performance culture and follows a transparent process to evaluate & reward employees. We always ensure to provide ample growth opportunities and engage for feedbacks from time to time," said Rohit Thakur, CHRO, Paytm.

The company started a rigorous company-wide process of annual performance reviews in January 2020, to evaluate the performance of its workforce.As part of the appraisal process, some employees were assessed to be at the lower end of the bell curve range. Paytm has over 300 million registered users it is slowly witnessing downfall than earlier with many apps coming in. And all these plans are to scale its business like before, said sources.

"As a part of the year-end process, the company typically asks them to look for opportunities outside the organization. However, after analysing the current scenario, Paytm has offered those employees to continue to be on the rolls of the company for another two months and receive all payments for this extended period," the company said in a statement.

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