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Construction firm employees help each other in emergency

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in Small Business Tax,Small Business Tax Deduction Strategies

When a TD Industries employee gets into a financial bind because of an emergency, colleagues pitch in to help out via payroll deductions.

The Dallas-based construction firm allows employees to donate paid leave and money on a regular basis or in response to an isolated situation. The donations, which so far have come from about 100 employees, go into a pool that workers can tap if a car accident or house fire, for example, leaves them unable to work or pay bills.

Any employee in need can draw from the “TD Cares” pool, even if he or she never contributed to it, and since the program began in November 2007, 20 have tapped it. Unused money stays in the pool until it’s needed.

An employee committee decides who gets the money and limits awards to those with emergencies beyond their control. They won’t give money for credit card bills or college tuition, for example.

In addition, the organization helped employees whose homes were hit by Hurricane Ike in September. It offered extra paid days off and gave backup generators to employees who lost electricity. The company put one employee up in a hotel for a night, and helped others pay for gas and groceries.

“We make sure [our donations] fit their needs,” Senior VP Maureen Underwood said.

Contact: Maureen Underwood at maureen.underwood@tdindustries.com.

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