Since our taxes are going down, it’s only right that our worker’s wages go up. Our people work very hard and they have made Express a successful company. I’m pleased that we are able to do this for our employees. - Bob Funk, Express CEO
Oklahoma City, OK (PRWEB) January 02, 2018
Bob Funk, CEO of the nationwide staffing company Express Employment Professionals, announced today that all non-executive level employees at the company’s international headquarters in Oklahoma City will receive a $2,000 bonus as a result of the tax reform legislation passed by Congress and signed into law by President Donald Trump last week.
“The corporate tax cuts will allow us to invest more money in our people,” Funk said. “Since our taxes are going down, it’s only right that our worker’s wages go up. Our people work very hard and they have made Express a successful company. I’m pleased that we are able to do this for our employees.”
Trump’s federal tax reform translates into a 22.5 percent reduction in the Pass Through Rate, which reduces the tax by 10 percent of Taxable Income for Express, meaning more employers are able to redirect tax savings into infrastructure and increased employee compensation.
“I hope the wave of companies issuing additional pay increases as a result of tax reform legislation continues,” Funk said. “The demand for workers is very high in this growing economy and that means workers will be more selective in their job search.”
In a survey of 1,951 businesses conducted by Express in the second quarter of 2017, respondents were asked, “What hurdles stop applicants from accepting a job at your company?” Thirty percent (30%) said “low pay” stops applicants from accepting a job, making it the most popular response.
“It’s clear that pay is a top motivator for job seekers,” Funk said. “There is a wide range of factors to which employers much be sensitive when growing their workforce. Strategic pay and compensation packages are key to making a good hire, especially as the skills gap widens and the labor market tightens. This new law allows companies to be competitive in the current market.”
Tax reform will play a major role in the growth of corporations leading into 2018 and beyond, allowing companies to succeed and continue investing in their employees and local communities.
“This is a very exciting time for Express and the national economy,” Funk said. “Business has been strong and I think this tax cut will make it even stronger, ultimately benefiting the American worker.”
If you would like to arrange for an interview with Bob Funk to discuss this topic, please contact Sheena Karami, Director of Corporate Communications and PR, at (405) 717-5966.
About Robert A. Funk
Robert A. “Bob” Funk is chairman and chief executive officer of Express Employment Professionals. Headquartered in Oklahoma City, the international staffing company has more than 770 franchises in the U.S., Canada and South Africa. Under his leadership, Express has put more than 6 million people to work worldwide. Funk served as Chairman of the Conference of Chairmen of the Federal Reserve and was also the Chairman of the Federal Reserve Bank of Kansas City.
About Express Employment Professionals
Express Employment Professionals puts people to work. It generated $3.05 billion in sales and employed a record 510,000 people in 2016. Its long-term goal is to put a million people to work annually. For more information, visit ExpressPros.com.
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Express Employment Professionals
Director Corporate Communications