OpenWorks Rewards Employees with Profit Sharing Initiative
Phoenix, AZ (PRWEB) July 02, 2015 -- OpenWorks, one of America’s leading integrated facility services franchises, recently launched an initiative that shares the company’s profits directly with their employees and rewards them for their contributions to the success of the franchise.
In January, OpenWorks began a net profit sharing program for all of its employees across the county. The company will provide bonus payments to their employees based on if the company approaches, meets or exceeds their targeted net profit goals. The bonus amounts are determined by a percentage of the employees’ pro-rated salaries.
OpenWorks’ net profit sharing plan rewards employees with bonus payments through three tiers of payouts based on the company budget:
- Threshold bonus – the reward incentive attributed to attaining the company’s threshold net profit amount. The 2015 threshold amount is calculated at 30% of the target bonus payment amount.
- Target bonus – this amount is calculated using a specified percentage of base pro-rated salary. This percentage is determined based on position, salary and eligibility in other variable pay programs.
- Stretch bonus – the bonus amount attributed to reaching the stretch amount for the net profit. This level is 120% of the targeted bonus specified.
OpenWorks established this initiative as a way to motivate and incentivize their workers, and increase engagement across various regions and departments. The positive effects of the program have already been realized, as the company reached their target bonus (120% to target) in Q1 of 2015. All OpenWorks employees received their first bonuses in early May.
OpenWorks Founder and CEO Eric Roudi said the profit sharing concept was a way to drive engagement among its employees and departments while rewarding them for their contributions to the company.
“We all work together to achieve the same goal at OpenWorks, and we believe people should be rewarded for their performance,” said Roudi. “When OpenWorks succeeds, so do our outstanding employees throughout the system.”
For more information on OpenWorks, please visit http://www.openworksweb.com.
About OpenWorks:
Established in Phoenix, AZ in 1983, OpenWorks is a leading national commercial cleaning franchise that offers integrated facility services through highly reputable local affiliates. In 30+ years, the company has grown to 330 franchise locations in five states from Illinois to California.
OpenWorks is guided by a simple philosophy: a cleaner, safer and healthier environment means a more productive workplace. The OpenWorks franchisees and preferred partners who serve more than 1100 facilities each day offer more than simple cleaning and maintenance - they help their clients fundamentally improve their work environment. Each OpenWorks representative implements an environmentally friendly “Green Clean” program using the highest quality equipment.
The OpenWorks difference is all about open, flexible relationships. Each OpenWorks customer receives customized solutions that fit the needs of their specific facility.
For more information on OpenWorks, please visit http://www.openworksweb.com.
Graham Chapman, OpenWorks, http://www.openworksweb.com/, +1 (919) 459-8157, [email protected]
Share this article