Managed by Q, an office cleaning and management startup, announced today that starting July 1 — and over the next 5 years — it will set aside 5 percent of the company for its on-demand employees.
It’s not unusual for startups to offer their employees equity, but on-demand companies like Uber, Lyft, and Postmates typically depend on contractors, not employees, to operate. Managed by Q boasts that its stock option program is the first of its kind in the on-demand space.
By providing full-time benefits and equity to would-be contractors, Managed by Q reinforces the pitch it established last year: treat employees like, you know, employees.
The program affects all of the company’s employees — both office and field staff — and comes in addition to other benefits like medical coverage and time-and-a-half pay for overtime.
In a press conference today at Managed by Q’s new headquarters, U.S. Secretary of Labor Thomas E. Perez called the startup’s model an example of “economy of prosperity,” in which companies encourage employee loyalty through “inclusive innovation” — a pretty obvious dig at other startups heavily dependent on contractors.
Perez also praised Managed by Q CEO Dan Teran, saying he “is key in understanding that when we do this together, you can build a sustainable business model.”
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