Most of the bosses in this world are based on self-profit-orientation and their colleagues do not really appreciate that much. But then there’s another world. A world where exceptions exist!
Meet this boss who actually had the nerve to consider their workers’ efforts and decided to set the minimum salary bar to $70,000 effectively and clearly understanding the outcomes of his actions which, BTW, did not fail him!
Dan Price (resident of Seattle), the protagonist of this piece, was once out on a vacation with one of his friends who happened to express her “not-being-able-to-pay-the-bills” situation to him. Also, the fact that her landlord has accelerated the rental amount to $200.
The friend, Valerie, was struggling with 2 jobs at the time in order to support herself who had served the military for 11 years in the past. “She is somebody for whom service, honor and hard work just defines who she is as a person”, Dan says.
The situation struck his mind and made him angry and he realized that he, too, was a part of this whole situation keeping in mind he had many people working under him in his company named Gravity and who knows, who is struggling with what?
His Englighting Decision
He thought over the situation in a deep sense and came up with a decision to extend everyone’s salary at his office and set the minimum amount to be $70,000 which wasn’t easy and made him mortgage two of his houses and he also ended up giving up on his stocks and savings. Also, he cut out on his own salary which was $1.1 million per year.
When he announced the good news at his office, he actually had to do it twice because everyone was awe-struck which completely makes sense.
Impact On Gravity
After his decision of increasing the salary of his employees, his company Gravity went through a huge transformation. The company went from $3.10 billion to $10.2 billion.
“Before the $70,000 minimum wage, we were having between zero and two babies born per year amongst the team. And since the announcement – and it’s been only about four-and-a-half years – we’ve had more than 40 babies”, says Dan.
Well, now go and forward this article to your boss. JK! 😀