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Gravity Payments: Minimum Wage is a Heavy Load

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Since April 2015, Dan Price has implemented a US$70K minimum salary at his company. As owner and CEO of Gravity Payments, a Seattle-based credit-card payment-processing firm, he wants to lead by example to reduce the growing income inequality between the highest and lowest paid. One of his secondary objectives, publicity for the stance he has taken, has certainly been achieved, but what are the longer-term implications for him, his firm and his employees? This is a risky move: would employees be happier and the firm more stable with a different compensation arrangement?

Learning Objective:

Challenges and dilemmas in compensating a workforce

Year of Publication: 2016
Ref. No.: 15/567C
Discipline: Knowledge and Human Resource Management
Industry: Consumer Finance
Country: United States of America
Company: Gravity Payments
Languages: English
Pages of Text: 5