With growing economic wealth and the power of big companies, questions have been raised about how much concentration and market power should be in the hands of a select few.
Despite the rise of corporate giants, the founder of a billion dollar health care company is doing things differently. With his heart in the right place, the founder’s emotional announcement during the holidays shocked the entire company…
Bayada Health Care
Bayada Home Health Care is an international provider of home health care, which was founded in Philadelphia, PA. Currently, Bayada is based in the Philadelphia suburbs of New Jersey, with their headquarters in Moorestown Township, and a Global Support Center in Pennsauken.
Services
The company started out a provider of home health aide services, like assistive care or personal care, and expanded its services to include a full range of home health services for people of all ages and disabilities. According to their website, “Bayada Home Health Care is a trusted leader in providing clinical care and support services at home for children and adults of all ages.”
Home Health Care
“Today, our team includes more than 22,000 home health care professionals serving their communities in 22 states from 335 offices,” Bayada wrote. The chairman and founder of Bayada Home Health, Mark Baiada announced that to ensure long-term sustainability, Mark and his family are transitioning Bayada into a nonprofit in early 2019.
The Decision To Be Nonprofit
Their decision to restructure Bayada into a nonprofit “reflects the combined purpose of helping people live safely at home with comfort, independence, and dignity; protecting employees’ livelihoods; and promoting Bayada’s vision of making the highest quality home health care available to everyone, worldwide.”
Transition
As part of Bayada Home Health Care’s transition to a nonprofit and to show gratitude to Bayada employees for the meaningful work that they do, Baiada surprised employees with a $20 million to gift. The money would be distributed among RNs, LPNs, social workers, home health aides, therapists, associates, client services managers, clinical managers, office support, and other staff members.
Big Surprise
According to an article published in Bayada News, the surprise took place at the Bellevue Hotel in Philadelphia, PA, just one block away from where Baiada started the first Bayada service over 43 years ago.
$20 Million
The company began with Baiada’s $16,000 in savings a mission to help people live safely at home “with comfort, independence, and dignity.” During a lunch with 100 employees, representing a wide range of roles, responsibilities, and tenure, and in celebration of National Home Care and Hospice Month and Thanksgiving, Baiada shocked them with the surprise of a lifetime.
Personal Funds
“He is divvying up the $20 million of his personal funds, based on each employee’s lifetime earnings with the company,” Lisa Weinstein wrote on Bayada News. “Gift amounts with ranges from tens of thousands for those who have been with Bayada for many years, to $50 for employees who just started with the company last week.”
Reflection
Baiada said, “As I work to transition Bayada into a nonprofit and take the next step in the evolution of our company, I have spent a lot of time reflecting on what has gotten us to this point, and what I am particularly thankful for, which is our dedicated team of home health professionals.”
Token Of Appreciation
“This gift is a token of my appreciation, in hopes that it helps every Bayada employee to understand just how important they are to Bayada and to our Lasting Legacy vision of being the world’s most compassionate and trusted team of home health care professionals.”
Lasting Legacy
As part of Baiada’s Lasting Legacy succession plan, he became Bayada Chairman in August 2017 to oversee the company’s transformational transition to nonprofit and his son, then-practice president David Baiada, was appointed as the company’s CEO. This transition was believed to be the first of its kind in the home health care industry.
Health Care Industry
Weinstein wrote, “This move to nonprofit is designed to protect the company from sale and help to ensure that Bayada’s mission, vision, values, and beliefs, codified as The Bayada Way, will endure for generations to come.” “Maintaining a truly impactful and lasting legacy for Bayada starts with our great people, who embody our core values and contribute to maintaining our unique mission-driven culture,” Baiada said.
Deserving Employees
He continued, “I am honored to be able to pass on my gift of gratitude to these deserving employees and am excited for what the future holds for all of us with the nonprofit transition.” Besides this generous gift of gratitude, Bayada continues to give back to its employees who are connected to a purpose and who love what they do because it is their calling.
Key Differentiator
Bayada will continue to reinvest profits back into the company’s mission and culture, which is a key differentiator in the marketplace. “Examples of employee reinvestment include continuing education opportunities to help employees grow in their careers; clinical innovation and technology investments to help employees better do their jobs; recruitment efforts to hire the best and brightest in the industry; and resources to open new offices to serve more people,” Weinstein wrote.
Event
During the event, Baiada also acknowledged a number of employees who represent the many committed employees who have helped Bayada to move forward toward its Lasting Legacy. One of these people include Mat Gunkel, RN, and Bayada’s 2018 Hero of the Year, who is inspired to make life better for his client Dominic, an enthusiastic 16-year-old with cerebral palsy and type 1 diabetes.
Symbolism
While this gift is certainly a once-in-a-lifetime gesture, the organization believes its symbolism is a testament to the unique environment Mark Baiada has successfully created. “Bayada is a special company full of employees who are all bonded together in our deep commitment to our clients,” Baiada said.
Mark Baiada
“My wish is that in 100 years, we are continuing to celebrate these incredible health care professionals and the work they do to improve the lives of our clients.” This gift couldn’t have come at a better time for employees, as it was during Thanksgiving.
Thanksgiving
Baiada told CBS Philly, “I just want to say thank you to them all.” “Thanksgiving is a season of gratitude. You look around your life and say, ‘I’m so fortunate.’” With the divvying up of funds based on seniority, nurse Nicole Green said, “Much needed, very much appreciated…A very nice surprise.”
Nurse
Cassandra Freeman, a mother of three, has been taking care of Bayada clients for 38 years and works as a night nurse to a quadriplegic patient. After receiving her gift of $6,550, Freeman said, “It’s wonderful, I can use it.”
Money Put To Good Use
With the money she’s receiving, Freeman says she’ll give some to her two kids in college and then buy some tires for her car, which is something she desperately needs. “I love what I do, I love giving,” Freeman said.
