Dan Price, CEO of Gravity Payments Cut His Own Pay So Employees Salaries Could Be Raised, Profits Boomed
Dan Price, CEO of Gravity Payments, shocked the business world by cutting his own salary from $1.1 million to $70k so he could raise all of his employees to a minimum of $70k a year.
Critics said it would never work. Instead, revenue tripled, customer numbers doubled, employee retention soared, and the story is now studied at Harvard Business School.
A powerful reminder that when you invest in people, everyone wins.
