$1 million ➡️ $70k: CEO cuts down his own salary to pay more wages to employees! 🤯
Did you know Dan Price, the co-founder of Gravity Payments , in the year 2011 was shocked when an employee told him that their $35,000 salary was not enough to live a decent life in Seattle?!
💰 Price knew he had to make a change. He gave every employee a 20% annual raise but realized that wasn't enough.
💸 Price decided to phase in a minimum salary of $70,000 for all employees over the next three years, and to fund it, he cut his own salary from $1M to $70K.
💪 The move paid off as 5,000 people applied for jobs at Gravity the following week, including a Yahoo executive who took a pay cut to work for a company that valued its employees. 📈
📍At the end of the day, it's not just about making money but about creating a positive impact on people's lives. By putting employees first, you can not only create a successful business but also make a positive impact on your community.
Did you know Dan Price, the co-founder of Gravity Payments , in the year 2011 was shocked when an employee told him that their $35,000 salary was not enough to live a decent life in Seattle?!
💰 Price knew he had to make a change. He gave every employee a 20% annual raise but realized that wasn't enough.
💸 Price decided to phase in a minimum salary of $70,000 for all employees over the next three years, and to fund it, he cut his own salary from $1M to $70K.
💪 The move paid off as 5,000 people applied for jobs at Gravity the following week, including a Yahoo executive who took a pay cut to work for a company that valued its employees. 📈
📍At the end of the day, it's not just about making money but about creating a positive impact on people's lives. By putting employees first, you can not only create a successful business but also make a positive impact on your community.