Jessica Miller-Merrell, blogging4jobs
Dan Price: The Robin Hood of Raise Giving, or the Sheriff of Silly Comp Calls?
Thanks to massive publicity, we’ve all got a front-row seat for the Murphy’s Law of compensation scenarios unfolding as we speak. Quick refresher: Dan Price, the CEO of Gravity Payments, announced in April that he would be taking a pay cut and raising the minimum salary at his company to $70,000 over the next three years. What started as a noble intention has spiralled into a compensation can of worms. At least two employees have left because of the two biggest conundrums of implementing an equitable pay system: upper-level workers didn’t see the same type of pay increase as the less qualified, lower paid workers, and workers who did receive a pay increase were concerned that their less motivated co-workers wouldn’t put in the same effort as they do. These are both legitimate concerns and are two of the most significant issues with equitable compensation practices.