{"id":34300,"date":"2016-08-16T09:41:39","date_gmt":"2016-08-16T16:41:39","guid":{"rendered":"https:\/\/nevadanewsandviews.com\/?p=34300"},"modified":"2016-08-16T09:41:39","modified_gmt":"2016-08-16T16:41:39","slug":"the-ceo-who-increased-employees-minimum-wage-to-70k-opens-up-about-reality-a-year-later","status":"publish","type":"post","link":"http:\/\/nevadanewsandviews.com\/the-ceo-who-increased-employees-minimum-wage-to-70k-opens-up-about-reality-a-year-later\/","title":{"rendered":"The CEO Who Increased Employees\u2019 Minimum Wage to $70K Opens Up About Reality a Year Later"},"content":{"rendered":"
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PC:https:\/\/goo.gl\/niOOBC<\/p><\/div>\n

(Kayla Brandon, Independent Journal Review<\/a>)<\/strong> The discussion around increasing the minimum wage for Americans has been a hot topic for a while now. So when Gravity CEO Dan Price hiked up<\/a>\u00a0his employees\u2019 minimum wage to $70,000 a year last April, critics came out of the woodwork to bash his business decision.<\/p>\n

The owner of the Seattle-based credit-card-payment processing company even took a major\u00a0pay cut<\/a> from his own million-dollar salary to do it.<\/p>\n

Price said he was thinking of his 120 employees who worked for him and how it might help them, but also admitted\u00a0it was a calculated business move.<\/p>\n

\u00a0\u201cWhat I saw was a huge issue with income inequality at my small, micro community at Gravity Payments. And when I talked to my friends, who are really smart at economics, it didn\u2019t matter if someone was Libertarian, Republican, Democrat or Socialist, everybody agreed that income inequality was growing and that was not good for the country.\u201d<\/div>\n

Just three months into the transition, Price told The New York Times<\/a> he was struggling to make ends meet:<\/p>\n

\u201cI\u2019m working working as hard as I ever worked to make it work. I\u2019m renting out my house right now to try and make ends meet myself.\u201d<\/p><\/blockquote>\n

Two of Gravity\u2019s \u201cmost valued\u201d members of the team also left the company. Maisey McMaster, who worked her way up to a financial manager, told The Times<\/a>:<\/p>\n

\u201cHe gave raises to people who have the least skills and are the least equipped to do the job, and the ones who were taking on the most didn\u2019t get much of a bump. A fairer plan would give newer employees smaller increases, along with the chance to earn a more substantial raise with more experience.\u201d<\/p><\/blockquote>\n

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\u00a0Click here to continue reading<\/span><\/strong><\/em><\/a><\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

(Kayla Brandon, Independent Journal Review) The discussion around increasing the minimum wage for Americans has been a hot topic for a while now. So when Gravity CEO Dan Price hiked up\u00a0his employees\u2019 minimum wage to $70,000 a year last April, critics came out of the woodwork to bash his business decision. The owner of the […]<\/p>\n","protected":false},"author":2,"featured_media":34318,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/posts\/34300"}],"collection":[{"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/comments?post=34300"}],"version-history":[{"count":3,"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/posts\/34300\/revisions"}],"predecessor-version":[{"id":34323,"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/posts\/34300\/revisions\/34323"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/media\/34318"}],"wp:attachment":[{"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/media?parent=34300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/categories?post=34300"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/tags?post=34300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}