This CEO has the right idea when it comes to making his employees happy.
Chieh Huang, who started household goods and online grocery store Boxed out of his garage in Edison, New Jersey, in 2013, said that originally, he was just thinking about supplying toilet paper to people.
"When we started this business, I wanted to sell bulk goods to people all around the country," he told CNBC. "Social change through toilet paper was not on the agenda."
But he soon became the best boss ever.
In 2015, he decided to take a chunk of his profits and pay for his employees' children to go to college. In 2016, he offered workers up to $20,000 for their weddings. But why?
"After leading my first company, [gaming start-up Astro Ape], I realized that it doesn't matter how powerful or big an organization is. If all of its people walked out one day, that organization is worth zero the next day," says Huang. "That was a huge epiphany for me, and it made me realize that I'm only as good as the people I lead."
After visiting a packing center of his in Atlanta in 2015, he found that most of the workers didn’t even own a car, saying, "the most obvious answer was to get everyone a car…But I wanted something that was going to be more long-lasting and really empower upward mobility. In my life, that was my education."
So he pays for his workers college educations, and the money comes from Huang’s own salary, which he donates to a nonprofit which then gives the money to the workers.
The weddings were an added bonus after Huang witnessed a worker in New Jersey breaking down crying because he had to pay for both his mother's medical bills and his upcoming wedding.
"This is a very stoic guy," Huang says. "So when I found out he had left, I called him that night and he told me what happened. He was working seven days a week, so I wasn't going to say to him 'work harder.' We stepped in, and we paid for the wedding."
Now the policy is to reimburse any full-time employee for their wedding expenses up to $20,000.
Boxed, an online wholesale retailer, is known as “Costco for millennials,” and offered warehouse shopping without a membership fee.
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