Here’s a great idea to implement: LandCare, a nationwide commercial landscaping company, created a Tangerine Employee Relief Fund (TERF), which helps ensure employees are supported, especially amidst sudden financial hardship. Last month marked the 100th grant given to a team member in need.
Since launching in May 2020, TERF has provided over $180,000 in assistance to LandCare team members facing financial hardships. The success of TERF demonstrates the importance of creating a supportive and employee-centric culture.
“TERF is funded entirely by team members who want to help with unexpected challenges. We have nearly 100 team members making a recurring donation from their paycheck to our TERF program, from crew members to senior leadership. When unexpected financial challenges arise, it’s a way we can all be here to help, whether in the same branch or across the country,” said Dan Krems, CFO.
TERF was in the early stages of development in late 2019, when LandCare leadership was eager to create an initiative supported by and made accessible to team members. However, when the COVID-19 pandemic hit in March 2020, LandCare’s executive team accelerated the launch of TERF in anticipation of the potential negative financial impact that the pandemic and resulting economic slowdown could have on its team members and their families.
“The creation of TERF was a crucial step in addressing the financial vulnerabilities of our team members who may not have access to emergency funds. During the uncertain times of 2020, it became increasingly difficult to predict the well-being or financial stability of ourselves or our loved ones from week to week, commented Mark Hopkins, Central Division VP. “TERF provided a means for both donating and accessing funds in times of unexpected hardship, embodying the culture of care and support that is at the heart of LandCare.”
For more ways landscaping companies are recognizing employees, click here.