$15.00 Minimum Wage

[DIYPatriot]

And then there's this:

After hearing about a study that claimed income-- to a certain level-- directly affects one's emotional well-being, the founder of a Seattle-based credit card processing company announced Monday that he will take a large salary cut so he can increase the pay for each employee to at least $70,000 a year.

The New York Times reported that Dan Price, the head of Gravity Payments, told his 120-person staff about the plan after talking to friends about the difficulties of making $40,000 a year.

"As much as I'm a capitalist, there is nothing in the market that is making me do it," he told the paper.

Price said he will cut his nearly $1 million salary to $70,000 and use about 80 percent of the business’ anticipated profit to increase the salary of about 70 employees. About 30 employees, including the lowest-paid clerk, will see their salaries increase to the $70,000 threshold.

Full Article

[Flagg]

Originally Posted by DIYPatriot

And then there's this:



Full Article

It's a VERY bold move.

I pay my staff to the very best of my ability, but we're not in a position to pay the small number of unskilled/semi-skilled staff that much, but the majority of my staff would earn more.

I strongly believe that by my taking a risk and tightening my belt to gain and retain(retention of the right attitude/SME is the key I reckon) helps lead to a key competitive advantage over my competitors to outmaneuver and out perform them.

We've got a pretty egalitarian team, but someone with time and money intensive acquired skills deserves a higher level of compensation for a higher level of measurable contribution to company performance.

I reckon the kind gesture in the article is a bit short sighted in that it could put increasing pressure on wages for skilled work due to the lack of internal wage differential.

Kind hearted distortion, is still distortion.

With that huge increase, I wouldn't tolerate a single second of idle time from those who benefit the most.