With big bonuses, a company boss remembers those who helped make his fortune

Here’s a little something to drop on the boss’ desk:

In western Michigan, the owner of a company that sells foam that’s used in floral arrangements, is giving his 200 employees $4 million in bonuses.

Lee Schoenherr has wanted to do this for years, according to the Detroit Free Press, and he told his board earlier this year that this needed to be the year.

The average bonus will be $20,000 and will be based on length of service with the company. Senior executives in the firm aren’t taking part; it’s for the workers.

“My wife, Joan, and I are blessed in so many ways. We want to share these blessings with the men and women whose energy, passion and loyalty inspire us every day,” Schoenherr said. “A few years ago, I began thinking that I would like to do something more targeted for our employees, who really are the heart and soul of FloraCraft.”

In its entire history, the company has never had a layoff.

“They’ve been ecstatic,” CEO Eric Erwin tells CNBC of the reaction from the employees. “But I think the one word is ‘unexpected.’ I’ve head that so many times…. [T]hey know that Lee has been a generous man and has kept people working through good times and bad, and they’ve got a great amount of loyalty to him. But I don’t think anyone expected the size of the gift that Lee gave away.”

  • Guest

    has been a generous man and has kept people working through good times and bad, and they’ve got a great amount of loyalty to him

    Bonus aside, you don’t hear that from corporations anymore. Loyalty is not given nor asked for.

    • Barton

      My company recently asked its workers what we could do (not them, what we the workers could do) to feel more engaged and loyal to the company. I am not sure our initial answers (gathered by department management) are actually going to be passed on ….

  • RBHolb

    A rare CEO who really understands how things work.

  • Gary

    Maybe Lee Schoenherr should have been on the list of good men.

  • MrE85

    Wow. Just when you a convinced everyone is terrible, they go and do something like this.

  • Al

    I think there are a lot of CEOs like this around the country. They’re too busy actually managing their employees to pander for publicity like many CEOs we see in the news.