The best form of motivation to give to an employee is a 'pay raise' and Price ,CEO of gravity payment did that with a whooping and smashing increase of employees salary.
As reported by CNN;
It's been four months since Dan Price, the CEO of Gravity Payments, unveiled a plan to provide even his most junior employees with a salary of $70,000.
Many cheered the controversial policy, but there was also some backlash: Two employees left the Seattle-based payment processor, and so have a few clients. The plan has been attacked by political opponents who say it smacks of socialism.
Price, however, is convinced he did the right thing.
"The road has been bumpy, the challenges have been big, but our resolve ... is more than I ever could have imagined, and I'm thrilled that we're taking on this challenge,"
Price decided to hike his employees' pay after he read a study about happiness, which concluded that additional income up until a salary of $75,000 a year can make a significant difference in a person's emotional well-being.
About 70 of the company's 120 workers will have their pay raised to $70,000 over the next three years. About 30 of those workers will have their pay doubled.Price also cut his own salary from nearly $1 million to $70,000, to help pay for the other salary increases.
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