In a truly one-of-a-kind initiative, Kovai.co gave away $1.62 million (Rs 14.5 crore) to more than 140 employees as part of the “Together We Grow” bonus. Announced in 2022 by our founder and CEO, Saravana Kumar, this initiative was designed for all employees who joined before or during 2022 and stayed with the company for the next three years. On January 31, the first 80 recipients, primarily employees who joined before 2022, received bonuses and salaries.
Last Friday was an extremely special day for all of us at Kovai.co as we witnessed 80 long-term employees receiving well-earned bonuses. For many, this significant lump sum represented a moment of gratitude, pride, and achievement.
“When the bonus initiative was announced three years ago, I immediately decided to use it to reduce my home-building loan.”
Ramamirtham Kaliannan Lead Creative Designer, Kovai.co
Many employees have shared similar plans, such as making down payments on apartments, purchasing cars, or investing in stocks and mutual funds to build long-term assets.
“I am going to invest this amount for my daughter’s education.”
Venkatesh Regupathy Sreedharan Senior Growth Marketer, Kovai.co
“I plan to invest in gold so I can buy some of my jewellery for my wedding.”
Jessintha Johnson Senior People, and Culture Specialist, Kovai.co
A few people plan to close some personal loans taken for various happy occasions at home.
“I am looking forward to closing a personal loan that I took out for my marriage three years ago.”
Premkumar Radhakrishnan Lead – Admin and Facility Management, Kovai.co
Earlier in the week, we hosted a small get-together with our founder and CEO, Saravana Kumar, who officially announced the release of the bonus.
“Today is super special for me because one of my objectives has always been to create wealth and distribute it, helping our people achieve some of their life goals while working with us.”
Saravana Kumar Founder and CEO, Kovai.co
“So in 2021, I kept thinking of a way to make this happen”, he added.
Saravana explained that he consciously chose not to offer employee stock options (ESOPs) or base the incentive on performance. “I chose not to announce ESOPs because they are essentially paper money until a company takes external funding or goes for an IPO,” he said. “I also decided not to tie it to performance or targets but kept it simple-a bonus for those who stayed with us for three years.”
He first conceived the “Together We Grow” bonus while in Spain in December 2021. “Not many know this, but when I decided on this initiative, I already had the funds set aside. So, regardless of whether the company grows or not, this money belongs to you,” he assured employees.
During the event, Saravana presented a joint cheque of $1.62M (Rs 14.5 crore) to all the beneficiaries, and some of the company’s longest-serving employees cut the celebratory cake.
“This is such a thoughtful gesture from the company, sharing its profits with us. It feels incredibly special to receive this.”
Saranya Ramakrishnan Program Manager, Kovai.co
“For a company to not only provide professional growth but also take care of us financially in such a generous way is a huge motivation for us to continue giving our best.”
Arunprabhu Muthusamy Technical Architect, Kovai.co
Wrapping Up the Celebration
We ended the evening on a high note with a stand-up comedy performance by popular TV host Erode Mahesh, who had us in splits, followed by some delicious snacks. Looking forward to celebrating more such initiatives and milestones in the future!
#TogetherWeGrow
