Running a successful business means keeping an eye on the bottom line and carefully investing profits. For Dan Price, CEO of Gravity Payments, watching his employees deal with the financial struggles of living in the expensive city of Seattle led to a unique business decision: investing in his employees.
Back in April 2015, Dan gave an across-the-board series of raises to bring every employee of his company to a minimum salary of $70,000 a year!
That $70,000 minimum wage decision made international headlines and actually caused a bit of controversy. But this episode of the Empowerment Zone isn’t about that controversy, and it isn’t the story previously reported in the media. This is the story of the employees of Gravity Payments, and how their boss’s radical decision led to changed lives and reciprocated generosity.
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