Dan Price, founder and CEO of the Seattle-based credit card processor Gravity Payments, has recently announced that he is raising the minimum salary in his company to $70,000.
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$70,000 Minimum Salary
Dan Price, founder and CEO
of the Seattle-based credit card processor Gravity Payments, has recently announced
that he is raising the minimum salary in his company to $70,000. He is doing it
made a lot of headlines. He is drastically cutting his own salary in order to
raise the standard of living of even his lowest paid employees.
When it was announced
“Everyone start[ed] screaming and cheering and just going crazy."
That enthusiasm eventually settled down as Gravity Payments went about figuring
out how to make the new plan work. The original plan immediately raised
everyone’s minimum to $50,000 and then would increase by $10,000 until it
reached $70,000 by December 2017.
B.C. Tech Firms Dangle Perks as Demand for Workers Outstrips Supply
From vacation cash to luxury cars, some technology
companies in British Columbia are offering big perks to woo prospective
employees. Multinationals like Amazon and Microsoft have opened offices in
Vancouver, while homegrown startups like Hootsuite have gained international
acclaim in recent years.
The growth has left companies competing to recruit workers.
In order to stand out, many brands are advertising their
culture and mission statements in job postings so employees can choose the post
that best fits their lifestyle and personality, he said.
They're also offering benefits that go above and beyond
standard medical and dental coverage. Tam said he's heard of companies that
offer unlimited vacation, flexible work hours, and even one that paid for down
payments on new Tesla cars.
A five-hour work day
RingPartner, a digital marketing firm in Victoria, slashed
work days to five hours in a bid to find employees. RingPartner's 30 employees
are required to be in the office between 10 a.m. and 3 p.m. from Monday through
Friday, but where and when they do the rest of their work is up to them.
That means some people take off for the beach in the
afternoon, then log in to their computers at home in the evening, Gulbrandsen
said. Many parents have found that they now have more time to spend with their
kids, she added.
