There is no dearth of the range of perks some companies have in offer for their employees in order to retain them.
But this Silicon valley based Startup has taken this to a whole new level. Chieh Huang, chief executive at shopping startup Boxed Wholesale, has decided to pay for his employees’ weddings. In fact, he said that the company would pay up to $20,000 for any full-time employee’s wedding. If you are ready to work for this Silicon valley Startup, you can save a lot of your parent’s saving considering Indian weddings are hugely expensive.
According to the report, Huang said that the first thing he had thought was increasing wages, but that he believes that fringe benefits like paying for a wedding are actually better. He said such efforts will help companies build a “culture” and that it would ultimately be “a money-saver over time.” But that doesn’t mean the employees will not be eligible for raises .The company will still engage in “quarterly compensation reviews” and employees will still be eligible for raises.
This isn’t the first time that Huang, whose company raised $100 million in funding in January, has used unorthodox methods to make employees happy. Last year, he announced that he would personally donate $1 million in cash and shares in Boxed to pay for the cost of tuition for his employees’ children. At that time, Boxed had approximately 100 employees who had only a dozen children. Most of those children have yet to reach college age.
Since then, Boxed, which provides technology that lets customers buy products in bulk online, has expanded to 122 full-time workers. Huang told that a handful of his workers have taken him up on his wedding offer and that he believes 10% of his workforce will do so over time.
Perks like free massages, laundry service, and meals are common and this silicon valley Startup has redefined the meaning of ‘perk’.