One Company’s New Minimum Wage: $70,000 a Year – NYTimes.com

http://www.nytimes.com/2015/04/14/business/owner-of-gravity-payments-a-credit-card-processor-is-setting-a-new-minimum-wage-70000-a-year.html

Pat,

Thanks for the summary.

In coming days, others will join me in relating how destructive to Gravity Payments culture this move will be in the course of time.

Market forces are inexorable. Understanding future impacts begins from thinking about how flattening pay scales entrap workers … In this case organizational stratification and stagnation are inevitable.

I will post on this again at my blog tomorrow (InterWestIT.com) – wherein I will relate a first person account of encountering this very issue with a well known / leading private company in 1999. Collins and Poras writing in ‘Built to Last’ established some of the particulars Gravity Payments ignores.

Employee churn is essential to creativity. Businesses are truly living organisms.

One comment

  1. […] counterpoint / contrast to the story of the poor fellow who raised the minimum salary at his company to $70K (and who is shortly thereafter going broke.) I say “refreshing” facetiously. But yes, […]

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