Gravity Payments CEO defends $70,000 minimum salary:
Human Nature is one of the most complex and hard to comprehend elements in the world.
If someone does something illegal or shady they are celebrated; if someone does something beneficial to others they chastised. It really doesn’t make sense.
Here we have a business owner; a guy that should be a role model to the rest of the high rolling business owners in the country, that is located in Seattle. Dan Price has has a heart of gold and a bankbook equally as large.
Price, the CEO of Gravity Payments suddenly became very benevolent after after reading a study about happiness and its connection making a happier workforce. He decided to hike all of his employees’ salaries to $70,000 a year, regardless of their working status. Dan wanted to make sure that everyone that worked for his company was a happy camper.
About 70 of the company’s 120 workers will have their pay raised to $70,000 over the next three years. About 30 of those workers will have their pay doubled.
Price even went so far as to cut his $1,000,000.00 a year salary to $70,000.00 make this work. I would conclude, he is a real genuine person and is putting his money where his employees mouths are.
His benevolent move drew a lot of attention, most of which was positive. For some idiotic reason two of his employees quit the company and also have a few clients take a hike. The plan has been attacked by some political opponents who say it smacks of socialism.
Socialism? It sound to me like there is a degree of jealousy and arrogance involved in the dissenters move.
Personally I cannot find any negativity in what they guy does with his money.
The only possibilities can be, the employees that quit felt; why should a janitor make as much as an executive. The companies that sought greener pastures may have figured that Price’s company was making too much money.
That is where this old saying is very appropriate; a person is damned if they do and damned if they don’t. The moral of that story is; do what you feel is the right thing to do because you will get criticized one way or another.
Price, is sticking to his guns; the road has been bumpy, the challenges have been big, but our resolve … is more than I ever could have imagined, and I’m thrilled that we’re taking on this challenge.
In this instance I would have to say that the Price is Right!! I say hats off to Dan Price Boss of the year.