Everyone heard about the CEO who raised all of his employee’s salaries to $70,000. But CEO Chieh Huang of Boxed, an online distributor of bulk household items, may have topped that. Huang has offered to pay college tuition for all of the employee’s children.
Many companies, such as Starbucks, offer tuition assistance for the employee, especially if it relates to the industry they are working in. However, this is the first offer to pay tuition for the children. As of now and for the forseeable future, there is no cap on how many years the child spends in college or which university they attend. The only restriction, if you can even call it that, is that Huang is only paying for tuition, not the books or boarding.
Huang realized that many of the employees who worked in the Atlanta facility did not even have cars to get themselves to work easily or to provide their children with opportunities outside the city. He toyed with the idea of getting everyone a car, in true Oprah fashion, but he realized that the problem wasn’t transportation; it was a lack of higher education due to financial constraints. Folks at The Aspire New Brunswick are impressed to learn that Huang opted to provide free tuition, without the need for an application or approval process, as opposed to simply raising the salaries.
For the full story of Boxed and how it stacks up to other companies, check out this link.