CEO Who Took $1M Paycut To Give All Employees $70K Minimum Salary In 2015 Explains How It Affected The Company

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CEO Who Took $1M Paycut To Give All Employees $70K Minimum Salary In 2015 Explains How It Affected The Company

Most of the time, people are frustrated about their job roles. Not getting paid as expected is a significant fact which leads to job stress. So it is a bit hard to convince for the higher positions about the salary gap between the hierarchy. What happens when suddenly top management gets to know about the salary issues inside the organization..!!

This story is about a CEO who allocates more funds to pay the salary of the employees. Dan Price was heard about a grievance from his friend, Valerie, about the salary payments. Since her salary was not enough to pay the rent, she was upset and disappointed about the management.

CEO Who Took $1M Paycut To Give All Employees $70K Minimum Salary In 2015 Explains How It Affected The Company
Image credits: danpriceseattle

Valerie only wants to share her sorrow and the problems with Dan. But what happened was it silently went for Dan’s mind. He realizes that the employees who made him a millionaire was struggling to survive. 

CEO Who Took $1M Paycut To Give All Employees $70K Minimum Salary In 2015 Explains How It Affected The Company
Image credits: DanPriceSeattle

He set up his company, Gravity Payments, in his teens, and it had about 2,000 customers and was estimated to be worth millions of dollars. 

CEO Who Took $1M Paycut To Give All Employees $70K Minimum Salary In 2015 Explains How It Affected The Company
Image credits: DanPriceSeattle

By understanding the importance of additional income, he increased the salaries for all 120 employees, raising the minimum salary to $70,000. He slashed his $1 million salaries by 90% to make it happen.

CEO Who Took $1M Paycut To Give All Employees $70K Minimum Salary In 2015 Explains How It Affected The Company
Image credits: DanPriceSeattle
CEO Who Took $1M Paycut To Give All Employees $70K Minimum Salary In 2015 Explains How It Affected The Company
Image credits: DanPriceSeattle
CEO Who Took $1M Paycut To Give All Employees $70K Minimum Salary In 2015 Explains How It Affected The Company
Image credits: DanPriceSeattle

His tweets sparked an important discussion on the way companies treat their employees

CEO Who Took $1M Paycut To Give All Employees $70K Minimum Salary In 2015 Explains How It Affected The Company
Image credits: DanPriceSeattle
CEO Who Took $1M Paycut To Give All Employees $70K Minimum Salary In 2015 Explains How It Affected The Company
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CEO Who Took $1M Paycut To Give All Employees $70K Minimum Salary In 2015 Explains How It Affected The Company
Image credits: DanPriceSeattle
CEO Who Took $1M Paycut To Give All Employees $70K Minimum Salary In 2015 Explains How It Affected The Company
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CEO Who Took $1M Paycut To Give All Employees $70K Minimum Salary In 2015 Explains How It Affected The Company
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CEO Who Took $1M Paycut To Give All Employees $70K Minimum Salary In 2015 Explains How It Affected The Company
Image credits: DanPriceSeattle

Dan gets lots of appreciation as well as the criticisms about this brave decision. What do you think?? Share your thoughts below.

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