3/17/2023 0 Comments Gravity payment![]() I don’t have to worry about an unexpected emergency.” Gravity employees have bought more houses, had more children, and invested more across the board, leveraging their increased financial stability in ways that lift the community as a whole.Īs these results have become clear over the last 6 years, it has inspired other CEO’s to do the same thing. “I don’t have to make a choice between fuel or groceries. “The worries of not being able to pay for something have disappeared,” wrote one employee when asked how Gravity’s wage policy has affected their lives. The changes Gravity made may have been internal, but the effect has had benefits that ripple far into the community. The company has seen significantly lower client attrition, increased profits, and a consistent increase in the volume and quality of business clients overall since shifting to their current wage policy. In fact, the results have been exactly the opposite. They said loudly and to anyone who would listen that this kind of wage equity would cause the business to stumble, if not fail altogether. ![]() Many detractors, people in big business who follow the traditional thinking of keeping wages low, were vocal in their criticism of Dan’s move to pay everyone more. The move has had them become really conscious of the need to always put people's expenses FIRST, rather than other traditional expenses. According to her, the move at Gravity has resulted in a new culture of increased fiscal caution, and a sense of responsibility around travel and entertainment expenses, and an overall increase in budgeting thoughtfulness. “Since April 2015, we’ve received over 30,000 resumes and added 50 new team members!” Jessica points out that businesses have always needed to cut expenses in other areas – this is nothing new. It’s also given them the opportunity to attract amazing talent to the team who help support small business owners in any way possible. The $70K decision has given them a bigger platform to spread their message of putting purpose and people before profit. Jessica shared that it was “amazing to feel supported, as part of a team and a family.” The overall culture of this company isn’t just in how wages are distributed, but their commitment to walking the talk shows at every level of employee experience. They brought food even though it was mid-day - they were able to leave work to help her, because of the flexibility leadership showed in valuing the human experience of their employees. Almost immediately 10 folks from Gravity wrote her back with offers of assistance. Bedbound and achy, she posted a note to Facebook asking if anyone could help. With no family nearby, she felt alone and thought she would have to tough it out on her own. When she got sick in the first August after she moved, she was pretty much trapped in the house. Jessica moved to Seattle from Georgia, a huge move that left her family far behind. It’s in the stories people like Jessica tell about working there, the glow in their voices, and their conviction that they matter to the company. “When he started this company, people in those most senior positions were making $24,000 a year … he always had in his mind that when he reached a certain profitability point, he wanted to give some of that back.The real testament to the success of Gravity Payments' decision isn’t just in their business outcomes, or even in their employee retention. “Another way to look at it is that it is rewarding what we have been doing over the past few years,” Boorman responded. You don’t have to go to $70,000.”īoze contends that a raise of $10,000 can obtain the same effect on employees as the $70,000 bump. ![]() “If a job is worth $41,000, for example, and you give somebody a boost to $45,000, that’s not bad and exciting. “There are a lot less expensive ways to maximize that kind productivity,” Boze said. “Instantly, he maximized employee productivity and work ethic.”īut as Boze puts it, the raise is still overdoing it in terms of productivity. “One thing that you are mentioning is that he is giving away this money, but to me it’s really an investment in, arguably a business’ most valuable resource, and that’s their staff,” Boorman said. Boorman said that employees are mainly elated over the raises and there haven’t been any sour attitudes. ![]()
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