Chief Executive officer, which reduced his own salary four years ago to improve her with all my employees, is doing it again.
Dan Price, CEO of Gravity Payments in Seattle (Washington state), said this week that all staff in their new office in Boise (Idaho) will receive a minimum annual salary of $70 thousand by 2024.
“This morning we cut the ribbon in the new office Gravity Payments in Boise. And I declare that all of the office staff will begin to get our minimum salary of $70 thousand a year, – wrote to Price on Twitter. – I’m so grateful to work with this amazing team and that can compensate them for the benefits that they bring to our community.”
This morning we cut the ribbon on the new @GravityPymts Boise office AND announced that all of our employees here will start earning our $70k min salary.
I’m so grateful to work with this amazing team and to be able to compensate them for the value they bring to our community. pic.twitter.com/stwwJgYCqQ
— Dan Price (@DanPriceSeattle) September 23, 2019
Office in Boise was previously an independent company with chargeitpro, and Gravity Payments, dealing with credit cards and financial services, has acquired it as a subsidiary three years ago.
In 2015 the Price has decided to increase the salaries of its employees in Seattle once read a scientific study about happiness. It said that the extra income can significantly affect the emotional state.
Dan Price decided to increase the salaries of all its 120 employees in Seattle, raising the minimum salary to $70 thousand, and by reducing his annual salary of one million dollars at 90% to make it happen.
Price said that higher wages have changed the lives of its employees. They were able to help their families, more than 10% of employees for the first time, bought a house, and retirement savings 401 (k) has more than doubled.