New Seasons Market rolls out a loyalty program for 1,500 of its 1,750 employees in a sort of retention program.
New Seasons Market rolls out a loyalty program for 1,500 of its 1,750 employees that would give the employees cash when they leave their jobs if the company’s value has increased.
The plan aims to reward employees in an industry with high turnover.
“To be clear, this does not mean that New Seasons Market is suddenly getting another 1,500 owners,” explained a memo distributed to employees on Monday announcing the new benefit.
The units, which will vest in five years, must be cashed out when an employee leaves. They could convert to ownership if the company was merged or went public — both scenarios in which units could become shares — but New Seasons has no current plans for that, [co-founder Brian] Rohter said.
Read more at OregonLive.com.