Nithin Kamath, co-founder, and CEO of Bengaluru-based financial services firm Zerodha has announced a health campaign in which anyone who meets a defined target on 90% of days over the next year would receive a bonus. Zerodha, a financial services company that had urged its staff to focus on their health during the 2020 Covid epidemic, has now made fitness a routine.
Zerodha’s fitness challenge
Nithin Kamath tweeted that to receive the compensation the employees must meet their daily health goals 90% of the time throughout the course of the following year. In addition to giving each employee a bonus equal to one month’s pay, the business will also organise a lucky draw for a prize pool of Rs. 10 lakhs to encourage employees. The employees need to burn a minimum of 350 active calories per day in any form to be part of this health campaign challenge. This is not compulsory for its employees but it is highly recommended by the CEO.
Kamath also said that because many of their workers are doing work from home, moving around is more important than ever. He also added how sitting has become the new smoking.
Tracking exercise has been the finest growth hack for losing weight and staying in shape, according to the co-founder of Zerodha, who also shared a screenshot of his weight reduction journey. He continued that keeping track of one’s weight also helps one be aware of diet. Kamath began keeping track of his activity in 2020, and in September of this year, he increased his daily target to 1000 calories.
The two brothers Nithin and Nikhil Kamath launched their business in August 2010. The name Zerodha, which combines the terms “Zero” and “Rodha,” the Sanskrit word for “barrier,” represents the company’s values. As of 2019, Zerodha contributed up to 2% of the daily retail volumes on Indian stock exchanges, making it the largest retail stock broker in India by active client base. Zerodha joined the “unicorn club” in June 2020 with a self-assessment of roughly $1 billion. The company’s ESOP repurchase exercise was the basis for this valuation, which valued each share at more than four times its book value of 700 per share.
Earlier Zerodha had the achievement of the 1 crore customer milestone. The CEO of leading fintech company Zerodha, Nithin Kamath, credits the achievement to the Government due to the adoption of Aadhar when registering online accounts
He pointed out that Zerodha’s decision to rely on word-of-mouth marketing and provide a single product for all clients provided advantages that the business had not initially considered. In addition to tech, economies of scale also began to take effect in support and operations; the size of the Zerodha workforce remained constant while the company moved from 20 lakh to 1 crore clients in 2 years after the pandemic.
Its revenues were Rs 4,300 crore and its earnings were Rs 1,800 crore in the financial year 2022. The Zerodha team established the Rainmatter Foundation. It actively invests in and nurtures fintech businesses through Rainmatter, and it has a portfolio of roughly 20 start-ups, including Finshots, Small case, and Stoa. Additionally, $100 million has been given to Rainmatter Climate, which invests in for-profit and non-profit groups tackling issues like climate change, livelihood creation, etc.