As companies cut bonuses and jobs, one Houston energy is rewarding employees with a nice payout.
During a time when oil companies are in a slump, Hilcorp Energy Co. gave every employee a bonus of $100,000 for making the company’s five-year goals earlier this year, according to the Houston Chronicle and Fortune magazine.
The promise to their employees was to meet their yearly goals: to double Hilcorp’s oilfield production rate, net oil/gas reserves, and equity value over five years. This year Hilcorp achieved that this spring and their promise was kept by the energy company, according to the Chronicle. $100,000 was prorated based on time of service over the past five years, but employees of all job levels and titles were eligible for the bonus.
In a story from Fortune, in 2010, every employee received a $50,000 car or $35,000 in cash for reaching the previous five-year goals, which named the company one of the “Best Workplaces for Diversity” for 2015.