In a time during which many CEOs in the capitalist hellscape that is our world are — unsurprisingly — ruining the livelihoods of employees in order to preserve their earnings and profits, Nvidia CEO Jensen Huang is leading the company in ways other CEOs should take note of.
Huang has written a lengthy statement to all Nvidia employees to let them know they will receive wages, and that nobody will be laid off or have their pay cut due to the pandemic. The statement is three pages long, providing reassurance, key statistics on COVID-19’s impact, and information on the company’s measures.
Huang shared that Nvidia has had three cases of COVID-19. While everyone recovered, one employee has sadly lost their mother to the coronavirus.
In response to the crumbling economy, Nvidia is pulling its annual review process. “Immediately I received questions about whether we are also planning a layoff. NO — precisely the opposite. We are accelerating your raise to put some extra money in your hands,” Huang states. He goes as far as to reassert that, “There is no layoff.”
Later on in the letter, he highlights the work the company has done to combat the impact of COVID-19, including that Nvidia is offering Nvidia Parabricks, a GPU-accelerated genomic processing engine —which is an essential tool in discovering and testing vaccines for COVID-19 — to researchers free of charge. The company has pledged to match dollar-for-dollar the donations of every team at Nvidia. “Since our company matches our donations up to $2,500, every dollar you give can make four times the impact! Let’s raise some money!” He ends the statement by showing appreciation to all the everyday people fighting on the frontlines, risking their lives to keep society functioning.
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It is worth noting that Nvidia has had a historically great reputation for protecting its workers. Via Just Capital, it ranks first in its industry and first overall for its investment into its workers. In addition to generous healthcare benefits, “NVIDIA partners with the Stanford Health Navigator program to provide employees access to medical advice and care from leading institutions.” Its parental leave policy is equally or even more generous, providing up to 100% pay for up to 22 weeks for mothers and 12 weeks for fathers, adoptive parents, and foster parents, as well as flexible hours for the first eight weeks after returning from parental leave. It’s known to invest in its Diversity and Inclusion mission, for Nvidia’s Nominating and Corporate Governance Committee “reviews and strategizes around how to continue to improve diversity and inclusion.”
Other impressive statistics that pertain to its workplace culture include:
- Pays workers a fair wage based on job level, qualifications, and experience – first in the industry, sixth overall.
- Pays workers a living wage that covers the local costs of basic needs – first in the industry, 26th overall.
- Provides workers with a good benefits package and supports a work-life balance – third in the industry, 101st overall.
- Provides a diverse and inclusive workplace with equal opportunity and pay without discrimination – first in the industry, fifth overall.
- Creates a transparent and supportive workplace culture with open communication – first in the industry, second overall.
- Creates systems and policies that promote a safe workplace – first in the industry and overall.
- Pays its CEO fairly when compared to its workers and the company’s financial performance – fourth in the industry, 221st overall.
While Nvidia is certainly in a better position than many other companies during this global health pandemic, it doesn’t mean every other company in a similar position is taking similar measures. During unprecedented times, too many wealthy companies and CEOs are taking sadly all-too precedented measures by furloughing their employees or leaving them without jobs. More CEOs and companies should follow Huang’s leadership and Nvidia’s commitment to helping its employees during this pandemic.