April 15, 2015
I’m not sure if you’ve heard about this amazing boss, but this guy is a true hero for his company. Wish more and more owners would step up to the plate for their employees, right? There’s no reason a CEO should be making $1 million a year when their employees are barely making ends meet. Just my opinion, but owners tend to forget who helped them build and grow their company. I plan to be in a position to do this exact same thing for my own staff one day. Mark my words! ~Hospitality Shero
After hearing about a study that claimed income — to a certain level — directly affects one’s emotional well-being, the founder of a Seattle-based credit card processing company announced Monday that he will take a large salary cut so he can increase the pay for each employee to at least $70,000 a year.
The New York Times reported that Dan Price, the head of Gravity Payments, told his 120-person staff about the plan after talking to friends about the difficulties of making $40,000 a year.
Price said he will cut his nearly $1 million salary to $70,000 and use about 80 percent of the business’ anticipated profit to increase the salary of about 70 employees. About 30 employees, including the lowest-paid clerk, will see their salaries increase to the $70,000 threshold. The workers reportedly clapped and cheered when he made the announcement at the Seattle office.
“I’m completely blown away right now,” Hayley Vogt, 24, who earned $45,000 a year at the company, told the paper. “Everyone is talking about this $15 minimum wage in Seattle and it’s nice to work someplace where someone is actually doing something about it and not just talking about it.”
I’m sure there are a lot of people who would LOVE to work for Gravity Payments. I mean, really…who wouldn’t want to work for a company that values its employees?!
Mad respect for Mr. Dan Price!!!! I applaud you!
Until next time, y’all…