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With this initiative, which aims to simulatestock optionplans, employees can receive benefits for the performance of CCA and its clients. Moreover, via the Paynest platform, employees can monitor the valuation of their bonuses in real time.
CCA Law Firm has teamed up with the Portuguese start-up Paynest to innovate in the incentives offered to its employees and in deepening the engagement between them and the organisation. Inspired by the talent attraction and retention mechanisms of large technology companies, the firm has created a benefit that simulates an internal market for ‘securities’, similar to stock options, which will be awarded to its employees and whose value is linked to the results of CCA and its clients. Through the Paynest application, employees will have real-time visibility and control over this benefit and its valuation.
With the aim of strengthening the commitment of the teams and recognising their contribution to the results of the company and its clients, this benefit is awarded at different times during the employee's career and is available for transaction, in part or in full, after a certain period. Each person will be able to manage their securities, and it will be possible to buy or sell or even redeem the money available amongst employees.
Paynest was the innovation partner that brought CCA Law Firm's new initiative to life, as part of the collaboration between the two companies for the past two years. The law firm already offered salary advance and financial coaching as part of its benefits package. The product now implemented at CCA is part of Paynest's offer, which thus reinforces its mission to support companies in retaining employees.
For Nuno Pereira, co-founder and CEO of Paynest, ‘developing a product in collaboration with a client allows us not only to validate that product on the market much more quickly, but also to show that at Paynest we go above and beyond in our relationship with our partners. Long-term incentives are a tool used by big tech companies to attract top talent in a global and highly competitive market, so CCA should be commended for its vision, innovation and commitment to its team.’
Media:
- SAPO