Oil Company Gives Employees $100,000 Bonuses

Despite of the oil industry not going so well recently, this holiday season an oil company gives employees $100,000 bonuses.

Many of us receive holiday bonuses, but employees of Hilcorp Energy Co. are particularly lucky this year as each of them was awarded a bonus up to $100,000 depending on how long they have been working for this company.

Hilcorp Energy Co. is one of the biggest private oil and natural gas exploration companies in the country and their Christmas bonuses were one of the main reasons they entered the list of 100 Best Companies to Work For, for the third year in a row.

The company has a history of over 10 of being very generous with its employees around Christmas and giving them impressive bonuses. These are given based on time of service, but nevertheless, everyone receives a lot of money, from the board executives to secretaries and receptionists.

For example, in 2010, employees were given the option to choose between two types of bonuses – either a $50,000 vehicle voucher or a bonus of $35,000 in cash. Either way, the offers were both tempting. The bonuses were awarded for the employee’s hard work, which lead to the doubling in size of the company.

This year, the reason for the big bonus is the same. Employees are rewarded for reaching the company’s five-year goal, which was doubling the oil production rate as well as gas reserves, plus, again, doubling the size of the company.

Being a privately owned company, its goals and quarterly financials are not being made public and it doesn’t have any stocks traded on public stock exchanges.

Anyway, with such a bonus policy, employees are sure to give their best at work, which obviously makes their bosses happy and brings them huge holiday rewards. The internal system implemented by the company seems to work quite well as they manage to keep employees motivated to work hard to meet the challenges executives have in mind. Not all companies manage to double their size in five years’ time and it is only natural that everyone working towards the same goal should receive the same reward.

Maybe Hilcorp Energy Co. will serve as a model for other companies that want to keep their workers happy and motivated.