CEO Offers Free Tuition for Employees' Kids
Photo: Jamie Grill Photography/ Getty Images
(NEWSER) – While some companies provide employees with free lunches or gym memberships, Boxed co-founder and CEO Chieh Huang is taking swag up a notch by providing college educations for his employees’ children. The wholesale delivery service exec decided that the best way to better his employees’ lives was not to raise wages, but to provide for their children’s future. “I think the average pay for a [Boxed] warehouse worker today is between $13 to $15 an hour,” he explains, according to USA Today. Even doubling that wage “doesn’t change the trajectory of upward mobility for their family and future generations.” The money is coming out of Huang’s personal funds, not company funds, reports CNN Money.
The children will receive a full ride regardless of what school they choose or their parent’s Boxed tenure. The Washington Post reports that 12 children among the current 100 employees are eligible, but the number could grow as the company expands. Huang says his move is about morality. “These folks have dedicated themselves to our company day in and day out,” he says. “I’m really nothing without them, so this was just my way of making the situation right.” Not surprisingly, job applications at Boxed have increased since Huang’s announcement, reports CNBC.
By Brownie Marie
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This article originally appeared on Newser: CEO Offers Free Tuition for Employees’ Kids
