![]() ![]() The price hike also had benefits for employee productivity Price said that 76 percent of Gravity Payments' employees are engaged at work, which is twice the national average. In his tweets, Price also cited data that 70 percent of employees paid down debts, and 401(K) contributions grew by 155 percent among workers. We also have unlimited paid time off for our employees, and we encourage people to take the maternity and paternity time they need to do it right." "When people can give kids a good life and a good upbringing, they do it. "When people have the resources to make the choices they want to, a lot of them do," Price said. Price said the "baby boom" was the most unexpected outcome realized through the pay-policy change. He also cited that number of staff members who had babies and purchased homes both grew by 10 times in that period, and employee turnover dropped by half. Since the wage hike six years ago, Price wrote in the thread, the company's employee base grew by 70 percent and the number of Gravity Payments' customers doubled. Price posted a Twitter thread and video Wednesday showing how the company has stood to defy expectations of failure. Since then our revenue tripled, we're a Harvard Business School case study & our employees had a 10x boom in homes bought.Īlways invest in people. Fox News called me a socialist whose employees would be on bread lines. No one should have to work two jobs to make ends meet."Ħ years ago today I raised my company's min wage to $70k. It was clear I was an awful CEO who was failing his employees. ![]() "An employee was secretly working a 2nd job at McDonald's. "What helped inspire our $70k min wage?" Price wrote in a Twitter thread. The decision to raise staffers' pay came after Price learned that one of his employees was hiding a second job in order to meet living costs. The CEO shocked fellow business leaders in 2015 when he announced he would cut his own $1.1 million paycheck over the next three years to fund a minimum wage of $70,000 for every employee at the credit card processing company he co-founded, according to a profile about Price by Inc. Our employee turnover was also cut in half since we implemented our pay policy." "There is a sense of pride someone feels when they're making a living wage, and that their voice matters, which is good for productivity. "They no longer have to be stressed about making enough money to cover the basics and it creates a situation where people can focus on their work, career progression, and increasing their capabilities. "When you pay workers enough to meet their needs it creates a safety net," Price told Newsweek. Price confirmed in an email to Newsweek on Wednesday that before the pay-policy change, Gravity Payments had a processing volume of $3.79 billion in 2014, and last year, despite the pandemic, the company had a processing volume of $11 billion and estimates to make about $13.5 billion this year. Then get ready to go again.Seattle-based company Gravity Payments has tripled its revenue since CEO Dan Price raised the company's minimum wage to $70,000 six years ago. Float and fly around the cabin, then see if you can master a flip before gravity returns. Then, the plane goes into a thrilling steep dive, where you’ll experience up to 30 seconds of absolute and total weightlessness. Your FAA Certified Pilot will fly a series of parabolic flight maneuvers, similar to an airplane flying up and over a bunch of hills.įeel the rush of adrenaline as the plane gathers momentum and heads upward for a rapid ascent, resulting in a force about twice the earth’s normal gravitational pull. Buckle up for take-off, but once you’re in the air it’s time for the fun to begin. Your 45-minute experience begins when you hop aboard a modified Rockwell Commander 700 aircraft, where it’s just you, the pilot, and your experienced weightless instructor. You can get your zero-g game on and make your dreams of flying like an astronaut come true with this thrilling zero gravity flight. ![]() True weightlessness isn’t just for residents of the International Space Station. ![]()
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