betenbough homes
BENEFITS
ESOP ACKNOWLEDGEMENT | The appreciation in value of Betenbough Companies stock will be affected should the Board of Directors choose to give a portion or all the profits away to a 501(c)(3) non-profit.
While it is the desire of the leadership team to contribute to your ESOP plan each year, the amount, if any, will be determined by the overall profitability of the company. If a contribution is deemed appropriate, it will be made in either cash or shares of stock, whichever the Board of Directors chooses.
If you choose not to participate in the ESOP, your job will not be in jeopardy and there will be no other repercussions from making that choice. Your advancement and/or company compensation will not be adversely affected by your decision not to participate in the ESOP.
VISION TRIP PARTICIPATION | Vision trip participation is provided for permanent full-time team members and is an opportunity to fostering growth for team members and their families, team build, and experience the impact of our ministry partners.
To be eligible to sign up for a trip, the dates of the trip must be after the team member’s one-year Company anniversary date.
Financial Plan
1st Trip: 100% of trip costs paid by the Company (including paid time off, visas, travel expenses, shots). Each attendee will be fully responsible for costs related to obtaining passports and spending money for incidentals (such as snacks, souvenirs, etc.) during the trip.
2nd Trip: 90% of trip costs paid by the Company. Each attendee will be financially responsible for 10% of trip costs and fully responsible for costs related to obtaining passports and spending money for incidentals during the trip.
3rd & Subsequent Trips: 75% of trip costs paid by the Company. Each attendee will be financially responsible for 25% of trip costs and fully responsible for costs related to obtaining passports and spending money for incidentals during the trip.
Sign-ups
Each year, we provide an opportunity for team members to explore all vision trip options. Sign-ups usually occur at the end of the year. Team members will receive a full version of the policy upon signing up for a trip.
EMPLOYEE HOME DISCOUNT | As homebuilders, it is our desire to enable permanent full-time team members (after one year of continuous, full-time employment) to purchase a home at a discounted price for their primary residence. However, we don't know what the true costs are on a home until a couple months after closing. In fact, warranty-related costs trickle in for a year or more following the closing date. This can make it virtually impossible to know exactly how much you need to have saved up before closing.
To make it easier for team members to calculate and not have surprises at closing, we've tied the discount to a simple percentage (a gross 10%) of the total purchase price (less any build-to-pay buyer loan costs) instead of actual costs - although behind the scenes, that is what we try to make that percentage represent.
As team members purchase a home for their primary residence, we also want to encourage them to pursue a lifestyle of financial freedom rather than a lifestyle enslaved by debt. While we believe in the financial investment in a home, we also want to promote paying off your mortgage as quickly as possible. Our policy is intended to support your personal journey to be financially free!
If you are interested in pursuing a home discount, please contact your leader for requirements and details.
MILESTONE BONUS | Milestone bonuses are a benefit for permanent, full time team members at every five-year mark of consecutive employment. The bonus will be paid out during each fifth year of full time, permanent, consecutive employment. The bonus will equal $1,000 per year employed (examples: 5-year = $5,000; 10-year = $10,000). Team members must be employed on their milestone company anniversary date to receive the bonus. The bonus will not be pro-rated and has zero cash value upon separation.
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This symbol denotes policies you’ve previously signed during your digital onboarding process.