Uplifting/Motivating/Inspirational
Comment 1

Seattle boss raises entire company’s minimum wage to $70,000

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.

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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…

~Hospitality Shero

1 Comment

  1. Bishop says

    Well, he doesn’t have to concern himself with high turnover for sure! That is ONE characteristic that most employers have to deal with, that he no longer has to worry about! #Respect

    Like

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