Learn from this CEO how to take care of his people. The man named Dan Price promised to share his company’s profits with the people and promised to give Rs 52 lakh to the employees.
Dan owns a company called Gravity Payments. He recently announced on Twitter that he would reduce his $ 1 million salary by 90 percent. This is a very big thing for a CEO to say. But, he did not stop here, he also said that he will try to pay the salary of his 130 employees for about 70 thousand dollars. He says that the salary of the employees will be at least 52 lakhs. This in itself is a big announcement.
6 years ago today I raised my company’s min wage to $70k. Fox News called me a socialist whose employees would be on bread lines.
Since then our revenue tripled, we’re a Harvard Business School case study & our employees had a 10x boom in homes bought.
Always invest in people. pic.twitter.com/o7Ca7I4b7e
– Dan Price (@DanPriceSeattle) April 13, 2021
In the US, on average, the CEO of a well-to-do company earns up to $ 23 million a year. That is, CEOs earn 320 times more than their employees annually. This data is based on the year 2019.
Dan’s announcement may have triggered an adjustment when workers started receiving money on their profit sharing basis for their contributions. Dan also wrote that his company’s earnings have doubled since 2015.
Speaking to a website called People.com, he said, “After 6 years of being a company, our earnings have tripled. My company and its staff are also taking advantage of this. People have repaid loans, bought more houses and Many also started families. This is also an indicator of our success. “
While his decision was praised, it was opposed in many places. It was said that his decision will change the meaning of the word Welfare.