Incentives are usually geared toward channel partners, employees, and customers, but one man took the philosophy a step beyond in an attempt to motivate private businesses to hire unemployed individuals.
The man is Gene Epstein and he lives in Pennsylvania.
Using philanthropy as a means to “incentivize private business hiring,” Epstein initiated the Hire Just One program. It is geared toward encouraging businesses to hire just one out-of-work person for a minimum of six months. The reward: a $1000 donation to a charity in each participating businesses’ name, up to 250 businesses.
The 71-year-old man hopes the program will start getting Americans back to work, and is hoping his generosity catches on. Gaining his own wealth via real estate investments and car sales, Epstein has already set aside the $250,000 for donations, $1000 for each of up to 250 participating businesses.
Epstein has been choosing the charities himself, but having the businesses involved in the decision is another option.
Discussing his strategy with the Washington Post, the philanthropist noted, “It's an encouragement to businesses to not wait. They are going to see that they need more employees … This becomes like an incredible stimulus program."
More than 100 companies have shown interest in Epstein’s program, but he is careful to note that the reward will be given after each business fulfills its six-month period. Encouraged by the interest from businesses, Epstein “believes his program could influence other philanthropists and businesses to offer similar hiring incentives.”