Companies are getting creative with rewarding standout workers, but few are giving out $170,000 luxury cars or cruises to the Bahamas.
ThreatLocker, an Orlando-based cybersecurity firm with about 700 employees, gives luxury cars to its two most collaborative workers at its annual holiday party, the company told Business Insider.
The firm, which also has offices in Dublin, Dubai, and Australia, receives hundreds of votes each month for the two most helpful employees — one in the US, and one abroad. It flies in its international workers in for the holiday party.
Additionally, every manager votes for the best performer on their team that month. At the end of the year, the total votes for the top performer and the most helpful employee are combined to determine the two car recipients, the company said.
The firm usually awards an electric model, but has also handed out a $125,000 Porsche Panamera. The company hasn’t announced its car for this year yet, but told Business Insider one of the models is worth $173,000.
The tradition began in 2021 as a prize for the top performer, but CEO Danny Jenkins said it created a “dog-eat-dog” work environment. In the cybersecurity industry, teamwork is crucial to the company’s success, he said. Jenkins said the firm operates 24 hours a day with an average pick-up time of 23 seconds for any customer support issue, and colleagues need to work together to achieve that.
“Everything we do is with this matter of urgency,” Jenkins said. “So if you don’t have this teamwork where people are willing to get on a call at 2 a.m. in the morning and help each other and collaborate, then it doesn’t work.”
Jenkins said he works about 100 hours a week, and he keeps his phone on 24/7 in case issues arise.
Retaining the top
AI development has led to a boom in the cybersecurity industry, resulting in heightened demand for qualified talent. Jenkins said the company has never done layoffs and is currently hiring 40 to 50 people a month.
“I’d like to be in a situation where I don’t feel like we’re drowning because we’re constantly struggling to hire and onboard people fast enough,” said Jenkins.
That makes it all the more worthwhile to retain top talent and those who contribute to a strong culture.
He said that before the car winners are announced, between 14 and 16 runner-ups are honored in front of the company, and then offered a spot on a fully paid long-weekend getaway.
Jenkins said the trip has included a Royal Caribbean cruise to the Bahamas, as well as trips to Boston or New York. The group typically includes employees from various departments, and they all receive a spending budget of $2,500 on their trip, he said.
ThreatLocker also offers other perks to standout employees. Jenkins said that most employees work 40-hour workweeks, but sometimes teams may have to put in 18 or 19 hours straight to address an issue. Jenkins said when workers push through tight deadlines or go above and beyond, the company may reward them with court-side seats at games in the Orlando Kia Center, where the company has a permanent box.
Jenkins said the trip and car giveaway have bolstered employee success and that no car recipient has ever left the company.
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