Local restaurants help employees buy homes
Local restaurant owners Ron Ladner and Rimmer Covington Jr. are changing the landscape of the restaurant industry by helping their employees purchase their first home and get back on their feet financially.
Thursday, Ladner and Covington announced to Shaggy’s employees the launch of their new home buyer program which includes cash assistance for down payments.
The program will provide employees with everything from credit counseling to paying charge offs to providing guarantees to make them more credible to bankers.
Covington and Ladner say they’re committed to standing by their employees by pledging their own personal credibility. Ladner said, “We’re trying to turn this restaurant industry into a career. We’re providing our people with long-term, stable employment. What we’re finding is that we’re doing more with less because of the quality of people that we have are staying around for a long time. So, we’re willing to invest in that.”
Covington Jr. said, “I think we’ve seen this around the country. People are calling the new pandemic a shortage of workers and a big reason for that is people don’t feel appreciated. They don’t feel like they’ve been treated right in the past. And fortunately for us we’ve had this culture of appreciation at Shaggy’s for a long, long, long time. And we felt like this program would help to further enhance that. Just give people some hope.”
In the summer of 2020, following the COVID shut down, the Shaggy’s owners raised their internal minimum wage to $15 per hour and the tipped base rate to $7 to $8 per hour.