Company gives out $100,000 bonuses

Select number of employees to be rewarded in recognition of employer's 41st anniversary

Company gives out $100,000 bonuses

Forty-one lucky employees of Hancock Prospecting will be receiving a cash bonus of $100,000 as executive chairman Gina Rinehart prepares another raffle this week.

The raffle will cost Rinehart, who is regarded as Australia's richest person, a total of $4.1 million that will be given away as bonuses, according to reports.

The massive bonus comes as Rinehart marks her 41 years at Hancock, as well as her 69th birthday on Thursday, news.com.au reported.

Rinehart is regarded as Australia's richest person with a reported worth of $34 billion, according to news.com.au. She became the executive chairman of Hancock in 1992 and led it to become one of the most well-known mining companies in the world.

Hancock has roughly 3,350 employees throughout Australia, according to IbisWorld.

Rewarding employees with gifts and bonuses for their loyalty or in times of milestones has been a practice of other employers over the years.

Underwear company Spanx in 2021 treated employees with $10,000 bonuses and two first-class plane tickets to anywhere in the world as the firm celebrated a billion-dollar deal.

Software company KissFlow also gifted five loyal employees with their own BMW 530d cars in the company's 10th year.

Not the first time

For Rinehart, this isn't the first time that she delivered massive bonuses to employees via raffle.

The mining magnate in December also rewarded 10 lucky employees of Roy Hill mine with a massive $100,000 Christmas bonus, including one who been employed by the company for three months.

Roy Hill mine is Hancock's "largest revenue and profit earner," according to the company's annual report. The company recently delivered a net profit of $3.2 billion for the year to June 30.

In 2018, Roy Hill also introduced a Chairman's Profit Scheme, where employees receive some of the profits of Hancock as recognition and reward for their hard work.

Former Roy Hill CEO Barry Fitzgerald said the scheme is a "tremendous example" of Rinehart's generosity and appreciation of staff.

"The Chairman's Profit Scheme means that everybody's joint efforts pay off, with our people genuinely engaged with driving the performance of our operations and business," he said in a statement. "The scheme creates a unique opportunity for our staff to drive performance at Roy Hill and participate in the profitability of this Great West Australian mining operation and company."

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