Sharing the wealth
After the economic turmoil Canadians have been through, with COVID-19 shuttering businesses and weakening markets across the country, you can understand why many people are less than impressed to hear that some major corporations are still paying their executives and managers hefty bonuses.
Air Canada, for example, distributed $10 million in bonus pay even as the company was looking to the federal government for bailout funding, given that air travel was severely curtailed during the pandemic.
Cue the outrage.
This month, Air Canada switched course slightly, with a few senior executives returning the extra compensation, acknowledging in a news release the “public disappointment” about “these 2020 executive compensation outcomes.”
Distributing bonus pay while looking for government funding as many small businesses in the country were struggling to survive was tone-deaf, and stoked cynicism about the glaring divide between rich and poor.
HEARTWARMING DAY
Which is perhaps why a recent story out of Newfoundland and Labrador about Sexton Lumber, a company sharing its profits with all its employees, was such a breath of fresh air, touching a chord with readers across the Atlantic region and beyond.
Barb Dean-Simmons logged the story for SaltWire Network, describing Kevin and Susan Sexton’s expression of appreciation for their lumberyard employees in Bloomfield and a group of woodcutters in central Newfoundland.
June 10 was a heartwarming day for Susan Sexton when she handed out letters and bonus cheques of roughly $10,000 to each employee. There were smiles all around.
The Sextons say the onset of the pandemic left them with a great deal of uncertainty, but with the high demand for lumber, including from markets in the United States, Sexton Lumber wound up making record profits.
Kevin Sexton had always vowed if they ever had a good year, they would share the wealth with their employees.
“It’s our employees who help keep this operation going, keep it profitable,” Kevin said. “We weren’t in the position for a long time to do this, but with the market this year, we were finally able to give back. And we’re proud we were able to do it.”
WELL-READ ARTICLE
Dean-Simmons’ story was the most read article of the week for SaltWire Network when it was published June 18, with readers commending the company for showing its appreciation.
Of course, not every company is in a position to offer a $2-million bonus package, and Sexton Lumber has surely raised the bar. Hopefully it will inspire other companies to reward dedicated employees who have helped them get through the bad times and adapt to changing circumstances while dealing with their own anxieties.
Whether it’s an unexpected bonus, a letter of thanks, a gift card or an extra day off, a sincere gesture of appreciation can generate a whole lot of goodwill. And, in its own way, that’s like money in the bank.