Inspiring News Stories
Excerpts of Highly Inspiring News Stories in Major Media
Below are one-paragraph excerpts of highly inspiring news stories from the major media. Links are provided to the original stories on their media websites. If any link fails to function, click here. The inspiring news story summaries most recently posted here are listed first. You can explore the same list with the most inspiring stories listed first. See also a concise list providing headlines and links to a number of highly inspiring stories. May these articles inspire us to find ever more ways to love and support each other and all around us to be the very best we can be.
It was six years ago when CEO Dan Price raised the salary of everyone at his Seattle-based credit card processing company Gravity Payments to at least $70,000 a year. Price slashed his own salary by $1 million to be able to give his employees a pay raise. He was hailed a hero by some and met with predictions of bankruptcy from his critics. But that has not happened; instead, the company is thriving. He said his company has tripled and he is still paying his employees $70,000 a year. "I make $70,000 a year," Price [said]. According to the Economic Policy Institute, average CEO compensation is 320 times more than the salaries of their typical workers. Price said despite the success his company has had with the policy, he wishes other companies would follow suit. "I would say that's the failure of this. You know, I feel like I've been shouting from the rooftops like, 'This works, this works, everybody should do it!' and zero big companies are following suit because the system values having the highest return with the lowest risk and the lowest amount of work," Price said. Price thinks Gravity's returns are up in large part because bigger paychecks have lead to fiercely loyal employees. "Our turnover rate was cut in half, so when you have employees staying twice as long, their knowledge of how to help our customers skyrocketed over time and that's really what paid for the raise more so than my pay cut," said Price.
Note: Explore more positive stories about reimagining the economy.
