Employees sent in dozens of questions for the management team prior to the last quarterly meeting. Several of the questions were answered in the meeting and shared via video. Mark Fenner, president and CEO, addressed some of the questions in the most recent Insider podcast and more will be covered in upcoming Insider emails.
Here are a few more:
Why can’t we donate PTO to coworkers?
Janice Serpico, Chief Human Resource Officer – “We have heard this request from a few people. The issue with implementing it is twofold. 1) For whomever receives the PTO it becomes a taxable wage event, which would put an additional tax burden on the employee when income may be very important to them. 2) Not every PTO dollar is the same. We accrue the cost of our PTO based upon individual wages. Since everyone does not make the same wage, transferring PTO hours from one person to another would not account for true costs.”
What is your vision for expansion of Big O Tires stores?
Ed Harper, Vice President Retail Automotive – “We recently changed our area development agreement to align closer with our core areas in northeast Arkansas and southwest Missouri. We plan to build six more stores before 2025. The sky is the limit and the only thing our growth will depend upon is how we perform as a profit center. We want good profitable locations to keep our bottom line healthy.”
Can we revise the credit application to add a place for email addresses?
Curt Ricks, Director of Credit – “This is a great suggestion and, as a matter of fact, we are in the process of doing just that. An updated version of the credit application with fields for email addresses will be available soon.”