PHP sets example giving staff 11 bonuses
PHP Family, one of the largest commercial conglomerates in the united states, has provided 11 bonuses equal to the basic salary to each of its 10,000 employees on the occasion of Eid-ul-Fitr this year.
The business has been sharing some of its profits with employees for days gone by six years.
The PHP's move is exclusive considering the fact that through the pandemic, many organisations have already been laying off employees and reducing salaries to cope with the financial downturn, said company's staff.
The business provided six bonuses in 2020, 10 in 2019 and 8 in 2018, in line with the PHP officials.
"The bonuses are a continuation of the PHP Family's corporate social responsibility initiatives. My dad, the group's Chairman Sufi Mohammed Mizanur Rahman, declared the bonuses as one regular Eid bonus and 10 special Covid bonuses," Akhtar Parvez, director of PHP Family, told The Daily Star.
"The PHP Family in addition has been suffering from a substantial decrease in sales because the Covid-19 pandemic began in 2020 but we know that our staff are also suffering in the pandemic situation," he said.
"We have greatly reduced other costs of our office. By the grace of God, we have been able to tell employees some of the business's profits and never have to go for job cuts," he said.
"We usually spend about Tk 14 crore as monthly wage around 10,000 staff. These times Tk 50 crore income bonus has been paid on the occasion of Eid," said Mohammad Mohsin, managing director of PHP Family.
"Going back six years we've been trying to share a portion of the dividends with the staff. Before 2019, 6 to 7 bonuses were given every year. However, a maximum of 11 bonuses have already been given this year," he said.
The PHP started its journey in 1999. It has 30 companies dealing in various sectors like steel, glass, aluminium, textile, electricity, financial services, agriculture, automobile and ship breaking.
