I have always believed that you pay for quality. And, I believe the same goes for staff. If you want cheap workers, quality will likely be affected. Not to mention, when you have employees consistently worrying about money, it creates a stressed work culture. For some odd reason, people think that we should be grateful for the jobs we’re being given…But, if you’re going to work and still can’t afford to live comfortably, there is an issue that needs to be addressed. While I am not an advocate for mandatory wage increases, I do believe there needs to be systems in place that protect workers from shady employers that want a lot for a little.
Now, to the man of the hour, Dan Price, is the CEO of Gravity Payments. He is a man that seen value in giving each of his employees a $70,000 minimum wage. Dan Price took a $1 million dollar per year pay cut to allow him to give his employees that kind of wage increase. Here’s what he said in a tweet when he told the newly acquired company that they would now receive $70,000 per year:
“This morning we cut the ribbon on the new @GravityPymts Boise office AND announced that all of our employees here will start earning our $70k min salary,” Price tweeted Tuesday. “I’m so grateful to work with this amazing team and to be able to compensate them for the value they bring to our community.”
Before the wage increase, many of the workers in Idaho made less than $30,000 per year. Talk about one hell of an increase. That is life altering for many of the worker. He took a 90% pay decrease to make this possible. Talk about gracious.
“A lot of people think giving up a million dollar a year salary and millions in profit is an unreasonable sacrifice to pay a living wage and give small businesses white glove service,” Price wrote in an Instagram post on Wednesday. “Well, I am proof of one thing. It is worth it.”
In conclusion, Dan Price is an excellent example of a CEO that cares for his workers. I am sure there are some CEO’s that could take this mans actions to be an eyeopener of sorts.