Slashdot Mirror
Company Testing Standardized Salaries Is Struggling
jmcbain writes: In April 2015, Dan Price, the CEO of online payments company Gravity Payments based in Seattle, announced that all employees would have their salary bumped up to a minimum $70,000. Slashdot covered this news. Since that time, however, things have not gone well. Some employees quit because they felt it was unfair to double the pay of some new hires while the longest-serving staff members got small or no raises. Furthermore, after reducing his own salary from $1M to $70K, Mr. Price is now renting a house 'to make ends meet'. On an unrelated note, Mr. Price's brother, who is a co-founder of the company, is suing him.
Silly quasi-communists.
At least that guy is allrigh as he only wasted own money, as opposed to the actuall communists and socialists, so good riddance.
Nice experiment of price difference as extra motivator...
the point is this man did what all those noisy people have been demanding...and its backfired
so all of us who dont think people should get 15 bucks for flipping burgers can point to this as an example of why its not a good idea
have you seen my sig? there are many others like it but none that are the same
people are leaving because they dont feel valued when someone who just got hired is making as much as them, having been there for 10 years.
So what? There's lots of people looking for work and with high minimum salaries the chances of attracting someone talented just out of college is much higher. If anything it's a great way to keep fresh talent moving in while sloughing off the older chaff.