Dan Price is the Co-Founder and CEO of Gravity Payments, a financial company that sells credit cards. In 2015, the organization stood out as truly newsworthy all around the world when Dan reported that his employees would get a base compensation of $70,000.
To fund this move, Dan cut his own $1.1M pay by 90%. At that point, this decision received a lot of criticism yet after 6 years, the organization is flourishing and Price said it has made him a more joyful and wise boss.
Meet Dan Price, the CEO of Gravity Payments, who just commended 6 years of having cut his own compensation by 1,000,000 dollars to give rise his workers’ wages.
At the point when Price made the declaration to his 120 employees, welcoming NBC News and The New York Times to cover it, he received a lot of praise. There was 500 million interaction via online media and NBC’s video become one of the most-watched videos in network history. Likewise, Gravity Payments was overflowed with stories from thankful employees somewhere else who abruptly got raises from converted bosses.
However, above all, Price had emptied such a lot of gas into the discussion on what amount should employees be paid, it keeps to rage across the corporate landscape everywhere.
Dan himself went on Twitter and explained what inspired him to take this step:
Up until now, there is no comparison for Dan Price. A report by the Economic Policy Institute expresses that the normal CEO pay is 271 times the almost $58,000 yearly average compensation of the common American laborer.
People from all over the world responded to this act:
One said: A relative works 40 hours a week at Home Depot for $300. Was told to go on public housing with a full time job. America is broken because it’s low wages, private healthcare, and expensive housing. That’s pitchfork time. #TheGreatReset
A second one added: Well, you’re never gonna get your own rocket ship with that kind of attitude young man.
While a third one said: That actually made me cry. I’ve never worked for anyone that cared how much I struggled, how hard I worked and how disappointed I was with how little I was making. My current boss even told me it wouldn’t make sense to give me any air conditioning.
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