StaffWire services
After reading a research paper that stated that employees who earn less than $70,000 would be happier if they earned more, CEO Dan Price decided to make a change.
The founder of Gravity Payment recently set the minimum wage for each of his 120 employees to $70,000, reports The New York Times.
The new wage will be rolled out over the next three years, as he drops his own salary from $1 million and redirects company profits to pay his employees. Some staff will even see their salaries double.
Also read:
Why new immigrants struggle to find work