When this CEO sold his company, he gave his longtime employees an average bonus of $237,000 each.
When CEO Nevzat Aydin sold his food delivery company for a whopping $589 million, he did something very few CEOs do with that kind of windfall.
He paid $27 million of it back to his employees.
According to Ivana Kottasova at CNN Money, Aydin felt his workers “deserved to benefit from the company’s sale.”
“Yemeksepeti’s [the company] success story did not happen overnight and many people participated in this journey with their hard work and talent,” he told CNN Money.
The bonuses are worth $237,000 on average. They were paid from the proceeds of the sale of the company.
Though the bonus is limited to employees who have worked for the company for two years or more, many stand to benefit.
They must be elated. Salaries at the company appear on par with the national average in Turkey, where Yemeksepeti is based, meaning that regardless of the company’s value, workers weren’t being paid a whole lot between $1,000 and $2,000 per month on average. That’s roughly $12,000-$24,000 annually.
Aydin is the latest in a growing line of CEOs to realize that doing right by their employees is not just good manners, but also good for business.
As recently as 1980, CEO pay in the U.S. was roughly 42 times what the average American worker made. In 2015, top CEOs made 373 times the average worker salary.
What Aydin did was incredibly altruistic, but also incredibly rare. Not every CEO is as generous, and most don’t grant their employees such gigantic bonuses upon a sale of the company.
‘Cause ultimately, it’s actually pretty easy to reward an employee for a job well done.
You don’t even have to unexpectedly dump $20 million+ on their heads. Though that’s a super-nice thing to do.
All you have to do is…
Pay them fairly in the first place.