A closer look at companies executing leadership excellence
In August 2013, an idea sprang to life in a 2-car garage that today is threatening to put Costco out of business. Chieh Huang founded Boxed (aka Costco for Millennials) when he realized that none of the big box warehouse titans offered home delivery of bulk-ordered items.
As Huang studied the market, he found that U.S. warehouse clubs made about $200 billion in annual top line revenue. Virtually 0% of that was sold on mobile channels. He created an app that offered the ability to take advantage of big box prices with the convenience of placing orders from a mobile phone. What’s even more remarkable, is that he created a company culture that thrives on giving back to its employees.
Today, Boxed employs over 500 people in four state-of-the-art fulfillment centers from New Jersey to Las Vegas. Here are just a few ways that Boxed gives back to its employees:
- Unlimited, full-paid parental leave – Click here to check out why.
- Free college tuition – Learn more about why Boxed made education a priority here.
- Paid employee weddings – Read the back story here.
In a CNBC interview, Huang explained why giving back to his employees was a fundamental part of his business model. “After leading my first company, 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,” said Huang. “That was a huge epiphany for me, and it made me realize that I’m only as good as the people I lead.”
Kudos to Boxed for showing that doing well and doing good by your employees are not mutually exclusive!