Giving staff-wide reward 'a values-based decision'
The Invercargill Licensing Trust (ILT) has announced that it is awarding all employees with bonuses following "strong financial performance" this year.
"The contributions and impact that every member of our organisation has made during this difficult year is nothing short of extraordinary. We want to recognise that by sharing the success they have helped to create," said ILT president Paddy O'Brien in a media release.
The company employs over 650 individuals who are expected to benefit from the bonus, according to the company's website. The bonus will cover full time and casual staff, as well as seasonal students.
The bonus is structured in a way that ensures fair distribution across all its team, according to the organisation.
This is the first time in O'Brien's six years on ILT that an across-the-board staff bonus was handed, according to a Stuff report, which cited the ILT president.
The company's media release did not mention a specific amount, but Stuff reported that the combined bonus is "close to $400,000."
"We are committed to our people and know we have a competitive remuneration plan in place. This staff-wide bonus is a values-based decision, ensuring we walk the talk of looking after our ILT family, our community," said ILT chief executive Chris Ramsay in a statement.
"This is a great decision by our board. We are for our community and this will directly benefit our team, and we know there will be a positive flow on effect for the wider community."
'Strong financial performance'
The bonus comes as the organisation, which runs 23 hospitality businesses, forecasts strong financial performance this year.
"We are on track to exceed $7 million in donations for this financial year, which is ahead of last year," Ramsay said.
The ILT keeps it people employed by using a "combination of trading profit and income generated from gaming machines" in its businesses. It also gives back the funds to the community through grants, donations, and sponsorships.
"We are pleased that so many of our community are back enjoying our hospitality. Not only has this resulted in vibrancy around the city, but it has also helped us to achieve a strong financial performance," said O'Brien.
Across the world, various companies have also announced generous bonuses to employees following strong performances over the year, including German automotive brand Mercedes-Benz, and various shipping and refining companies in Asia.
