The boss who put everyone on $70K

[SOMEPARTS]

Anybody who has sold on commission knows what "draw" is...that system weeds out the losers.

[Bevo]

Vince Goodrum did this for his multiple employees at Caliber Fitness Solutions, The Leader in Human Evolution since 2001.

Exactly, nothing new. Vince has been doing this since 2001

[FitnessFrenzy]

Getbiggers would be furious if they only earned 70 k

[Primemuscle]

Bernie Sanders would have doubled the salary of all the employees. Sounds like this CEO might be a racist/sexist/bigot/homophobe.

BERNIE SANDERS SAYS CAMPAIGN STAFF ALL MAKING MORE THAN $15 PER HOUR AFTER NEW UNION DEAL All of which are likely temps.

[joswift]

So in your case incentives were low and and $10k raise wasn’t worth the extra work. So incentives didn’t work.

So you’re saying it’s a no win situation?

If everyone is paid the same then yes, its a no win situation, what about long service employees with lots of experience, are they on the same money as new starters?

Why would anyone want a promotion?
Filing clerk on 70k, Typists on 70k, senior manager on 70k.. nope wont work, pretty soon everyone would want to promote downwards,

Customer Buggy drivers on train stations in London are earning more than the Station Managers with tips, they cant get them to progress within the company because any promotion would mean a pay cut..

[JAGO]

I think it's honorable.

Keep your employees financially happy and you reduce internal theft and staff turnovers. It also makes everyone feel happier to make a respectable salary that allows for personal growth and debt payoff.

Ultimately, the owner of a company can do whatever they want. Sometimes, you have to make these types of sacrifices in order to keep your company healthy. Other companies have great incentives as well. Google used to do similar with their compensation packages and long-term incentives.

I see nothing wrong.

"1"

Be willing to say that sick time costs are way down. When one feel invested in something, they come to work.

J

[Marty Champions]

A credit card payment buisness sounds like a scam of a buisness

[Dave D]

If everyone is paid the same then yes, its a no win situation, what about long service employees with lots of experience, are they on the same money as new starters?

Why would anyone want a promotion?
Filing clerk on 70k, Typists on 70k, senior manager on 70k.. nope wont work, pretty soon everyone would want to promote downwards,

Customer Buggy drivers on train stations in London are earning more than the Station Managers with tips, they cant get them to progress within the company because any promotion would mean a pay cut..

Was the discussion that everyone is paid the same across every industry?

I thought it was about this company's CEO setting a minimum salary for his company?  I'm not sure anyone was saying everyone deserves 70k for showing up to work regardless of company or job?

If anything this guy was about paying  better wages across the board.

As you said you turned down a promotion because the extra work wasnt worth the extra pay. Customer Buggy drivers are making the very same decision you did and now you're saying it's bad?

[falco]

Thrust me guys, socialism only works for the family and friends of the ones in power. Otherwise, you will be in survival mode within 10 years. Middle class will become the new poor.
You americans have a prosperous country. Leave it like that way.

[el numero uno]

TL;DR:  CEO institutes minimum wage of $70,000 for his company, doubling the salary of 30% of staff.  Instead of profits shrinking, the company becomes more successful than ever. 

Thoughts?

Sadly, it wouldn't work on most industries.

Businesses with many low skilled workers and/or low margins would cease to exist if they had to pay 70k as a base salary.

And as someone else pointed out, most business owners want something in return for the risk they're taking. It makes no sense to risk your patrimony if you're making less than your employees.

[joswift]

Was the discussion that everyone is paid the same across every industry?

I thought it was about this company's CEO setting a minimum salary for his company?  I'm not sure anyone was saying everyone deserves 70k for showing up to work regardless of company or job?

If anything this guy was about paying  better wages across the board.

As you said you turned down a promotion because the extra work wasnt worth the extra pay. Customer Buggy drivers are making the very same decision you did and now you're saying it's bad?

No not at all.....the only way around it is to only recruit numbnuts for buggy drivers, doesnt matter if they stay in the job, anyone with a scrap of nouse you should put them in a higher position to start with.


Seems the article means he just upped the minimum wage to 70k and anyone higher stayed the same... I dont care what he claims about it boosting staff moral, the only staff feeling a boost were the ones with the rise.

Imagine a guy earning 30k and you earning 75k , guaranteed you are way more productive to the company than the guy on 30k, all of a sudden he gets almost the same as you for doing fuck all extra.. and he claims staff are happy,, yeah right....

[Dave D]

No not at all.....the only way around it is to only recruit numbnuts for buggy drivers, doesnt matter if they stay in the job, anyone with a scrap of nouse you should put them in a higher position to start with.


Seems the article means he just upped the minimum wage to 70k and anyone higher stayed the same... I dont care what he claims about it boosting staff moral, the only staff feeling a boost were the ones with the rise.

Imagine a guy earning 30k and you earning 75k , guaranteed you are way more productive to the company than the guy on 30k, all of a sudden he gets almost the same as you for doing fuck all extra.. and he claims staff are happy,, yeah right....

The article mentioned that senior staff were against the increase and some left. If the people who left were that valuable im sure the would have made concessions to keep them.

I get your point though.

The reality of it is he made the decision based on thinking his people were worth it. So far it's working for his business.


What do you think is worse for the world economy, this bussiness practice or the coronavirus?

[joswift]

The article mentioned that senior staff were against the increase and some left. If the people who left were that valuable im sure the would have made concessions to keep them.

I get your point though.

The reality of it is he made the decision based on thinking his people were worth it. So far it's working for his business.


What do you think is worse for the world economy, this bussiness practice or the coronavirus?

A guy who took a million dollar pay cut probably doesnt always know whats best for his company..

[Dave D]

A guy who took a million dollar pay cut probably doesnt always know whats best for his company..

Could be.

Or maybe he realized his salary was heavily taxed and he could write off numerous items if they became “business expenses”. 

What’s interesting is the article said the business had grown substantially,  based on those numbers he should be ok to bump his salary back up.

[joswift]

Could be.

Or maybe he realized his salary was heavily taxed and he could write off numerous items if they became “business expenses”. 

What’s interesting is the article said the business had grown substantially,  based on those numbers he should be ok to bump his salary back up.

See, its not just me thats cynical 

[Humble Narcissist]

Anybody who has sold on commission knows what "draw" is...that system weeds out the losers.

It sure does.

[Dave D]

See, its not just me thats cynical 

LOL.

Well done