It’s no secret these are tough times financially for people and businesses alike. One construction company based in Omaha, Nebraska recently took bold steps on behalf of their employees.
Here are Five Fast Facts about Hawkins Construction’s inflation bonus:
- 🙉🙈🙊Ignoring Inflation - Forbes recently reported that nearly half of all employers in the US don’t consider inflation in their budgets. Less than a quarter of US companies have changed employee pay due to inflation. This isn’t the Ravenous Bugblatter Beast of Traal - just because you ignore it doesn’t mean it actually doesn’t exist!
- 😟The Problem - President and CEO Hawkins Construction, Chris Hawkins, did the math and realized his people would come up about 3% short after normal bonuses and raises. Ow, that smarts!
- 💵💵The Action - To meet that shortfall, Hawkins gave each of his 340 hourly workers two extra $1,000 checks, the first in April and the second one coming in August. He actually showed them the money (twice)!
- ⛽⛱️The Result - Since construction is typically a week-to-week paycheck for a lot of families, this will be extremely helpful! It can help ease the higher prices of gas or groceries, or it could provide some space for much-needed summer travel.
- ⚙️📈The Deal - Hawkins did attach some strings: he asked his company to stay focused on being a little more efficient every day, and looking for ways to stay cost competitive. Seems more than reasonable to us!
🔥Bottom line: We LOVE seeing stories like this! It’s meaningful Paycheck help, and the kind of thing that will likely build a lot of loyalty in this company over the long haul. We’re confident this bonus will more than pay for itself in voluntary improvements and innovation. Show people the respect and value they deserve, and they’ll repay it many times over!
Has your employer done anything about inflation?
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