Planned Companies, a Parsippany-based real estate services provider that operates in 11 states, announced on Wednesday it has launched a COVID-19 Immediate Response Program to address the financial needs of its employees during the pandemic.
The company said it contributed $500,000 to the fund so current employees can apply for a one-time, tax-free grant of up to $300.
“The COVID-19 coronavirus emergency is unprecedented across the country and around the world, and has impacted businesses and their employees deeply and in ways that we could never have anticipated. This program will provide our team members with direct financial assistance during this period by offering some relief to those with related financial distress,” Robert Francis, CEO and president of Planned Companies, said. “As an essential business, many of our employees are on the front lines of this pandemic, putting themselves at personal risk. We hope these funds offers recognition of their commitment, dedication and hard work while providing valuable support during these uncertain times.”
To be eligible for the grant, applicants must demonstrate they have been financially affected by the coronavirus, be a Planned employee, average at least 30 hours per week and must have been employed for at least six months prior to the application. Employees on approved leaves for no more than one year are also eligible.
The fund, which will be administered by the Emergency Assistance Foundation Inc., is separate from Planned’s existing Employee Assistance and Recognition programs.
“While we continue to be grateful for the dedication and commitment of our healthcare workers and first responders during the emergency, we also applaud our employees as some of the unsung heroes of the COVID-19 response. We will continue to be thankful to our own team members that are ensuring our clients’ buildings are adequately staffed and that their tenants and businesses continue to receive our high level of quality service throughout the emergency,” Francis said.