TIL In April 2015, Dan Price announced that over the next three years, his company would raise the pay of all employees to at least $70,000 per year, stating this was the minimum needed to secure them from financial hardship when hit by unexpected expenses.

Read more: https://en.wikipedia.org/wiki/Gravity_Payments

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  1. How about instead of raising their wages you give them better profit sharing and more stock. CEO still gets rich when company does well but those employees are still only making 70k?

  2. I used to work for a publishing business owned by a worldwide conglomerate. The CEO of my division retired and a couple of months later did an interview where he said editorial assistants were severely underpaid, they should all get immediate raises and that wouldn’t even be enough. They were all young girls just a year or two out of college and they’d live four to a one-bedroom apartment in NYC to make the rent.

    The article was copied and sent around through the mail with a quote from the new CEO about how brave the guy was. People were talking about what a wonderful guy the former CEO was.

    I said he was full of shit. The guy was in charge and could have raised salaries if he’d wanted, but did nothing. He’s admitting to recognizing a problem and then doing nothing about it. And the current CEO is the same. If he thinks it’s so brave why doesn’t he give them all a raise?

    People would criticize me in public and then see me alone in the hall or elevator and whisper to me that they agreed. Nothing changed.

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