Mar 18, 2021
Henderson Engineers Response
5yWe always appreciate candid feedback, both positive and negative, and appreciate this former employee taking the time to share their experience. Unfortunately, last year, like so many other companies, Henderson had to make some tough decisions necessary to save jobs and remain competitive in our business. Some of those decisions while painstakingly discussed by senior leadership had to be made quickly. The measures described in this post (adjusted 401K match, paused wages, promotions, and bonuses) are all examples of what was necessary to address the changes that greatly affected our business, due to the unprecedented and unexpected global Covid-19 Pandemic. At the time these decisions were made, it was unclear just how long and to what extent, the Covid-19 pandemic would affect our company overall.
In addition to the aforementioned measures, many of our employees took pay cuts. Some were put on extended furloughs, and regrettably, some employees had to be let go. All of this was in an effort to save as many jobs as possible. The decision to decrease the 401K match was not taken lightly. While our plan document states that the employers matching contribution is discretionary, this is the only time in the 50 years Henderson has been in business that we’ve had to modify our matching formula.
We take pride in using many avenues to communicate with our employees, and we try to be as transparent as possible with our communication strategies. We understand from this prior employee’s perspective, we may have missed the mark this time. We will strive to use this as an example moving forward to improve our communication. We are proud of how many jobs the tough decisions saved, and that we were able to make a portion of the 401K match from Henderson possible at the end of 2020 after all. We are also proud of the fact that we were able to take merit increases off pause and catch those up for those who had been postponed. While we do not know who this former employee is, our best guess is that they received their postponed merit increase along with other employees when we were fiscally able to.