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The chairman of a home health care company has handed out $20 million to his employees.
Mark Baiada, chairman and founder of BAYADA Home Health Care, announced his $20-million gift during the company’s luncheon in November. He gave the money as a token of gratitude for the employees’ hard and meaningful work.
The money came from Baiada’s personal funds. It was divided among thousands of people, including current and retired employees. Reportedly, new employees got $50 each, while those who have been in the company for a long time collected tens of thousands of dollars.
Baiada’s gift came as a surprise to the employees, which include nurses, home health aides, therapists, social workers, and other home health care workers from 22 states in the United States. During the luncheon, the employees greeted the announcement with tears and a standing ovation.
Some employees expressed their plans on how they would spend the money. Plans range from Christmas presents to international trips. BAYADA Pediatric Nurse Nicole Green was very thankful for the gift but felt even more touched by Baiada’s recognition of the employees’ hard work. Green said that she would use the financial gift for her daughter’s college tuition.
Baiada’s generous gesture was a part of the company’s transition into becoming a nonprofit organization. The billion-dollar company will also be donated to a charitable foundation. By doing this, Baiada hopes that the company will be able to focus more on serving the community rather than making money for its shareholders.