A CEO Increases Minimum Wage of His Employees to $70,000, Employees Surprise Him with a $70K Tesla

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In a world where many business owners are greedy, exploiting their workers with impunity, this kind of story is very rare.

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In this story, the main character in it proved that there are still some good people living in this corrupt world. According to the account of the story, the Chief Executive Officer of a company named Gravity Payments, Dan Price, was walking secretly behind some of his employees last year when he heard them complaining bitterly about their wages. One of the workers told the others during the conversation, how she could not even make ends meet on the wage she receives from the company. Gravity Payments is a company that processes credit card transactions for small businesses. It is headquartered in Seattle, Washington.

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After Mr Price heard this sad conversation from his employees, he became disheartened. That day on his sleeping bed, he thought deeply about what he heard from his employees. The next day, after working hours in the office, Price announced that he has raised his employees’ minimum wage to $70,000 a year. Price cut down his own salary, so that he can increase that of his workers to help them make a decent living. There was joy throughout the company, among the workers. The employees had a new working spirit.

Some of them who used to live far away from the office, moved to apartments closer to where the company is located. This cut down their commute time almost six hours. Their retirement contributions were increased by 130%. Their living standards were significantly improved.

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Since the wage increase in April 2015, the company has expanded at a remarkable rate. According to an info graphic on the performance of the company released in July 2016, turnover is at the lowest level in Gravity’s history. The company received an influx of 30,000 resumes, and has added 50 new positions. The numbers of transactions for clients have increased by 30%, and profits have nearly doubled, from $3.5 million to $6.5 million. More companies are said to be scrambling to sign up for Gravity Payments services.

As the company is experiencing this remarkable growth, in July 2016, the workers decided to show appreciation to their CEO for what he has done for them. They presented Price with a posh Tesla car worth $70,000.

According to the workers, the car’s $70,000 price tag is symbolic of the life-changing minimum wage Mr Price set for them last year. A plaque attached to the car read: “Thank you for always putting the team before yourself. This gift is our way of showing how much your sacrifice means to us.”

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It is said Price has been dreaming of owning a Tesla car for some time now. When the news was broke to him that the new Tesla car was a gift from his employees to him as a goodwill gesture, Price became overwhelmed with emotions.  He shouted, cried, laughed, hugged, and even jumped into the arms of his employees. He could not believe what he was experiencing.

After the presentation of the car, Price later revealed that when he initially increased the wages of his employees, many of his business associates criticized his move. He said they told him that his company will collapse because the workers will be going home will all the profit made by the company.

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Price added that despite the discouraging statements about his decision, he was determined to do what he thought was morally right. He confirmed that the company has been thriving, and he routinely discusses challenges his employees face in their lives.

In a video posted showing the presentation of the gift, one worker named Alyssa O’Neal said: “I think this is just the ultimate way of saying thank you. He’s been up to bat for us, so we figured we could do something nice for him.”

The video has since gone viral, with many people admiring the decision taken by Price to make his employees enjoy the best of their working lives.


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