The Container Store has launched a new fund to help employees experiencing financial hardship.
The Employee First Fund is an employee assistance fund that will provide grants to employees experiencing unforeseen emergencies, a major medical situation, a catastrophic event or other challenges in life which they are not financially prepared to handle.
The retailer, consistently ranked by Fortune as one of the 100 Best Companies to Work For, will establish the fund with a $100,000 donation. After that, employees can make donations. The retailer announced the new fund as part of its annual "National We Love Our Employees Day" – a day it created five years ago to show appreciation for all that its employees do for the company, their colleagues, customers, vendors and communities.
"We're so thrilled to launch our Employee First Fund, which exists to support our company's commitment to an employee-first culture, ensuring all employees feel well taken care of, safe, secure and warm," said Kip Tindell, chairman and CEO. "It's a culture that's driven by our seven Foundation Principles and results in an environment where the lives of everyone connected to our business are enriched and brimming with opportunity – where everyone can thrive – starting with our employees first!"
The new fund was announced to employees with a video message and in ads in The New York Times and The Dallas Morning News. Messaging appeared on emails to customers, select billboards and via Facebook advertising as part of a larger marketing campaign.
The Container Store's efforts are in stark contrast to Walmart (NYSE: WMT). When a worker at its Canton, Ohio store posted images of bins set up in the employee break room encouraging donations of food for needy co-workers during the holidays, the retailer was taken to task for having employees in need.
-See this Container Store press release
-See this Talking Points Memo piece
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