Debt Consolidation Company Paying Out Hefty Bonuses To Help Find New Employees

A debt consolidation company that is attempting to hire 1,500 employees for its Buffalo office is now paying employees a referral bonus of up to $5,000 if they bring in a new co-worker, according to a published report.

A tight labor market in Buffalo has made it harder than expected to find new employees, especially in customer service, although the company says it is on track to meet its goal of hiring 1,500 new workers within five years.

Strategic Financial Solutions announced its bold plan last June, saying a younger workforce and lower-cost supply of labor were the reasons why it selected Buffalo for its new location. The company says it has 600 employees already working in an office in New York City.

The unemployment rate in Buffalo is at its lowest point in 18 years, and average wages in the area have climbed as employers are willing to shell out more to attract and retain talented workers. If Strategic Financial Solutions can reach its goal of hiring 1,500 workers, it is eligible to receive up to $10 million in state tax credits.

The company last year converted to an Employee Stock Ownership Plan to give workers more a stake in the financial future of the company and the company has taken other steps to invest in its employees, such as hiring a professional photographer to take photos of all employees for their LinkedIn profiles. To help keep morale up, free cupcakes are handed out every Tuesday and the office has massage chairs, a pool table, and other office activities.


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