US real estate organisation St John Properties has awarded all of its 198 employees a share of a $10 million (£7.57 million) bonus pot.
The bonus was given to its staff to celebrate the Baltimore-based organisation’s goal of developing 20 million square feet of office, flex/R&D, retail, and warehouse space in eight states.
St John calculated the size of the payment according to how many years service each employee had with the organisation. On average, employees received $50,000 (£37,870) each.
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The one-off bonus was kept under wraps with only five employees knowing about it prior to it being communicated internally by Edward St John, founder and chairman at St John’s Properties.
St John made the formal announcement at its annual holiday celebration, held at The Grand in Baltimore on 7 December 2019.
In addition, employees will receive an annual yearly bonus.
St John said: “To celebrate the achievement of our goal, we wanted to reward our employees in a big way that would make a significant impact on their lives. I am thankful for every one of our employees for their hard work and dedication. I couldn’t think of a better way to show it.
“My philosophy has always been to surround myself with the best and the brightest, and that is what we have done. Every professional at St John Properties is committed to excellence every day.”