What a boss! CEO gives more than £1,50,000 to each employee after selling his company

Nevzat Aydin, the CEO of Turkey’s biggest online food ordering service Yemek-sepeti, decided to give more than £1,50,000 in bonuses for each of the firm’s 114 employees. Why? Because he felt that everyone had contributed to the success of his company.

The chief executive officer of the Turkish tech firm has given his employees 17 million pounds in bonuses after the company posted good earnings and it was acquired for £375 million by German giant Delivery Hero.

This profit-sharing gesture is a first among Turkish businesses, and comes 15 years after Aydin set up the company with just £50,000 in 2000. with just three colleagues . The company was recently sold to Germany’s Delivery Hero.

“Some employees cried, some screamed, some wrote letters of thanks. There were emotions, because you affect the lives of the people. People can buy homes, cars," Asian Age quotes Aydin as saying when he was asked to describe the reaction of his staff.

Aydin’s work philosophy is simple: No company or success is a one-man show. Teamwork is key and success is more enjoyable when shared with the rest of the team.

According to a Business Insider report , this made the average bonus in the payout $237,000, almost 150 times the normal monthly wage at the Turkish company. Employees typically earn between $1,000 to $2,000 a month.

CNN reports that employees who  had been with the company for at least two years were eligible for the bonus and the payout was based on how long they had been with the company, their performance, and their estimated future potential with the group. Aydin also considered the employees’ individual performance and contribution to the future of the firm.

Such love for employees is rare but not a one off.  Richard Branson, CEO and founder of the Virgin Group of Companies, has awarded his staff with benefits such as 12 months of paid paternity leave in the past. A partner with a US law firm, Matthew Deffebach, reportedly donated a kidney to the s on of a longtime firm employee .

Earlier this year a Michigan-based businessman gave $6 million to his employees after selling his company. In May 2015, Chinese billionaire Li Jinyuan, the  owner of Tiens Group booked 140 hotels in Paris for more than half of his 12,000 employees. They were then treated to tours of tourist sites like the Eiffel Tower, Louvre, and a trip to the Côte d’Azur.

Dan Price, the CEO of Seattle-based tech company Gravity Payments made headlines this year when he announced plans to raise the salary of every single employee at his company to at least $70,000 (£47,000)  by cutting his own salary by 90 percent.

A study by MIT Sloan had revealed that well-paid and well-trained employees tend to work more efficiently, stay on the job longer, and provide better customer service. So investing in employees is just smart economics.

If you look after your employees, they are more likely to be around longer and be loyal to the business. Perhaps smaller businesses and corporates to take a cue and treat employees as an asset, rather than  costs to be cut.