In April of 2015, Dan Price, CEO of Gravity Payments, decided to phase in a minimum salary of $70,000 a year for his employees. He himself took a huge pay cut. The announcement was a sensation. Then there was backlash, in which other business leaders were scandalized, Price's brother sued him, clients got nervous, and some of the better-paid employees grumbled about losing their financial seniority. But a year later, business at the firm has doubled, attrition is way down among both clients and employees, and they’ve hired 50 new workers. Employees have been able to do things like move closer to the office and start families. So the rank-and-file got together to give Price a gift of a Tesla, a car they knew he was enthusiastic about.
Price was quite touched by the gesture. -via Viral Viral Videos
You can read more about Price in an Esquire article out today. -via Dan Price