Forum Post: This CEO Took A Pay Cut To Give Employees $70,000 A Year. Now He’s Battling Amazon.
Posted 6 years ago on May 25, 2018, 10:34 a.m. EST by factsrfun
(8342)
from Phoenix, AZ
This content is user submitted and not an official statement
"Today, Gravity says its average salary is $103,000 and everyone there earns more than Price’s living wage, just as he promised. Far from becoming a case study in “how socialism does not work,” as the right-wing commentator Rush Limbaugh predicted, Gravity claims it has 80 percent more clients now than when the experiment started.
Price, however, says he defines success not by financial results, but by the ways the pay raise changed people’s lives. “Babies being born at the company went from zero to two a year to, since then, about 20. So that was really exciting. Our home purchases ― it’s a very unapproachable market in Seattle ― really significantly increased. I think that’s been great.” ..."
https://www.huffingtonpost.com/entry/dan-price-minimum-wage_us_5afd3d8ee4b06a3fb50dcf28
It should be the law ...employees should be shareholders.
The labor department could at least report US productivity in $/hr , not just rate of change, maybe if people knew how productive they were they would feel better about asking for more.