Why this CEO gives each of his employees a £15,000 wedding bonus

Posted by
Sarah Biddlecombe

We’ve heard about some pretty envy-inducing work perks in our time. From unlimited time off for holidays to working whatever hours you fancy, to free massages and even the use of a company kayak, some companies are nailing the mission for employee satisfaction.

And one company in particular is offering an incredible range of work perks, from paying for its employees’ weddings to funding their children’s education.

Boxed, an international household goods and grocery shopping website, offers these perks and more to its 200 plus employees.

Workers can get funds of up to $20,000 (£15,448) towards their weddings, while the company offers unlimited maternity and paternity leave.

Even more impressively, CEO Chieh Huang puts an undisclosed amount of his own salary towards the cost of education for his employees’ children, with Forbes reporting that he sets aside half his stake in the company to do so.

Boxed offers a truly impressive list of employee perks

Boxed offers a truly impressive list of employee perks

So why is Huang so generous towards his employees?

Speaking to CNBC, the entrepreneur and former lawyer said it’s all down to loyalty.

“I realised that it doesn't matter how powerful or big an organisation is. If all of its people walked out one day, that organization is worth zero the next day," he said.

"That was a huge epiphany for me, and it made me realise that I'm only as good as the people I lead.”

The idea to fund tuition costs came to Huang two years ago when he visited workers in Boxed warehouses and realised how many of them were struggling to make ends meet. 

“I wanted something that was going to be more long-lasting and really empower upward mobility. In my life, that was my education,” he said.

Huang in New York earlier this year

Huang in New York earlier this year

The idea to give employees a chunk of money towards their weddings was born a year later, when Huang met an employee named Marcel who was working a second job in order to pay for his mother’s medical bills while saving for his upcoming nuptials.

“He was working seven days a week, so I wasn't going to say to him 'work harder’,” Huang said. “We stepped in, and we paid for the wedding.”

Huang didn’t reveal how much money he has spent on tuition so far, or how many weddings he has funded, but he was adamant that he wanted Boxed to focus on providing “really impactful and meaningful things” for its employees.

"Every company has to decide what they want to focus on, and for us it's paying for these life-altering events for our employees,” he added.

Jealous, us? Not at all…

Images: iStock/Rex