Mark Baiada, the founder of Bayada Home Health Care, announced at an employee luncheon that he was giving employees $20 million from his personal funds. New hires will get $50 and some of the long-term employees will be getting five figures. Mr. Baiada explained that it was a gift of gratitude after he thought through what got the company to where it is today.
Baiada started his business in 1975 with $16,000 in savings. Today, all 26,000 employees will receive part of the $20 million.
Bayada does have two lawsuits pending on the failure to pay employees the overtime they say they were entitled receive. And unions are at the door. Bayada says it follows state and federal laws. ‘Tis the nature of the employment relationship — there is always some tension, personal gifts aside.