While your company may cover health insurance, a 401K match, and maybe even daily lunches (if you're lucky), we doubt you've ever come across a company that takes care of one very large life expense: a wedding. With big day celebrations hovering around $26,000, it's not hard to see that this incentive is a major one for Boxed. The CEO of the bulk online shopping company, Chieh Huang, is dropping jaws with his rather revolutionary stance on employee benefits. Not only is he vowing to cover up to $20,000 in wedding expenses, but he is also offering to pay tuition for his employee's children, according to a CNBC report. Umm, how do we apply!?
The idea came to Huang after he visited a fulfillment center in Atlanta in 2015. As per CNBC, he discovered that as little as 2 of his 20 workers there had their own car. After considering buying them all a car, he decided to do something that would be more far-reaching than an automobile: their kids' college tuition. "The most obvious answer was to get everyone a car," Huang told CNBC. "But I wanted something that was going to be more long-lasting and really empower upward mobility. In my life, that was my education."
The CEO and founder now donates part of his salary to a nonprofit foundation which then, in turn, gifts the money to Boxed employees. It hasn't been disclosed exactly how much money has been donated to his workers' children, but Huang does admit he's already paid for a "handful of his employees' kids so far."
As for covering wedding expenses, this idea came from talking to an employee named Marcel who was struggling to make ends meet. Marcel was actually working two jobs to cover his mother's health care and, you guessed it, plan a wedding. "You're helping us breathe a little, looking towards the future," the Boxed employee said about Huang to NBC News.
Can more companies please adopt this policy before we walk down the aisle? K, thanks.