One Texas oil and gas president says “Merry Christmas” to his employees with generous $100,000 bonuses.
While other Texas oil producers struggle to stay afloat, Hilcorp doubled its output in 2015 to more than 150,000 barrels per day. As a great big thank you, owner Jeffery Hildebrandt will gift every employee with an astonishing $100,000 a piece, an outlay of more than $100 million.
Hildebrand believes that his employees are the reason for the company’s success and he proves that by being unusually generous. And he may be on to something. In a day when loyalty and good work ethics are rare, genuinely appreciating employees can go a long way. It’s really a smart business move and likely contributed to the company ranking #36 on Fortune’s “100 Best Workplaces for Millennials” in 2015.
This isn’t the first time that Hilcorp’s employees have been on the receiving end. Hildebrand’s generosity is legendary. New employees receive a complimentary account already loaded with $2500 that they can add to (with matching funds) and then use for charity. These bonuses began five years ago after Hilcorp achieved its goal of doubling its oil and gas production. That year, they gifted every employee with either $35,000 cash or $50,000 towards a new car.