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The boss who put everyone on 70K

bbc.com

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Re: The boss who put everyone on 70K

#171

Post by shkkmo »

telesilla wrote: post #111
numlock86 wrote: post #45

Oh, that story. I remember it. A lot of the high-performers left shortly after that. It was all triggered by some lawsuit in the first place anyway. The "give everyone the same salary" was like a compromise to weaken the lawsuit while at the same time to make a positive impact on media.

Alfred Nobel started the prize because his obituary was accidentally published, putting him in a bad light and he wanted to be remembered differently - we benefit from this prize today, in spite of his destructive business activities. I think it's fair to mention the fact that it was due to Price being accused of overpaying himself that the situation got turned around to be something valuable for his company and staf…

> However, I don't think it's fair to vilify him in the present day and discredit the results.

I'm with you for the second part, I think the results can be looked at independently. However, I don't think one good deed should excuse past bad behavior and one should be careful about glorifying someone to the extent that we ignore their misdeeds.

Re: The boss who put everyone on 70K

#172

Post by ailideex »

rebelrexx858 wrote: post #167
ailideex wrote: post #159

Earlier quoted context omitted.

> I can confirm from my own experience that when you worry about not being able to pay rent and all the bills, it's very difficult to be productive, much less in a job that requires any kind of focus or creative thinking. Who was paying you and could you not go do something else for money?

In some ways, that mindset comes from a place of privilege. In true poverty-esque situations, you often couldn't get the time off of work to find another job, or even afford the transition between one job and another. It can be a pretty vicious cycle.

> In some ways, that mindset comes from a place of privilege.

Would be hard pressed to do that as I don't come from a place of privilege. Check your assumptions.

Re: The boss who put everyone on 70K

#173

Post by Pfhreak »

voltrone wrote: post #117

And what about that one employee that tend to work more than the others(every company have one of those, maybe it's you), do you find it fair for him to get the same salary as everybody ? why would you better yourself and be more productive only to get paid the same as everybody.

Yes. Working more isn't what we should evaluate people on. It sets up perverse incentives that create long term damage by encouraging everyone to overwork.

Re: The boss who put everyone on 70K

#175

Post by kedean »

numlock86 wrote: post #45

Oh, that story. I remember it. A lot of the high-performers left shortly after that. It was all triggered by some lawsuit in the first place anyway. The "give everyone the same salary" was like a compromise to weaken the lawsuit while at the same time to make a positive impact on media.

> A lot of the high-performers left shortly after that

The article specified that "two senior Gravity employees also resigned in protest". Do you have a source for "a lot of the high performers" outside of those two?

It sounds to me like it worked out for the company, regardless of the CEO's personal goings-on. It's a win for the idea that if you pay all your employees reasonably, they won't just fall back and let the company crumble. I think it's really important to point and show that this initiative, which so many people derided as ridiculous and guaranteed to fail, actually worked.

Re: The boss who put everyone on 70K

#176

Post by shkkmo »

rafaelvasco wrote: post #142
skizm wrote: post #141

Earlier quoted context omitted.

He raised everyone’s pay in response to a lawsuit that claimed he was paying himself too much. Also it gives the company less profit so if he has to buy out his partner (as a result of the lawsuit), he can do so for less.

Doesn't invalidate what I said I think;

It doesn't invalidate your point that it would be beneficial did what he claims it did. It might invalidate your assertion that he was:

> Looking outside of him and caring for other people more than himself, sacrificing himself for others.

Re: The boss who put everyone on 70K

#177

Post by palerdot »

pbhjpbhj wrote: post #149
angarg12 wrote: post #47

> "When money is not at the forefront of your mind when you're doing your job, it allows you to be more passionate about what motivates you," she says. I spent the first several years of my career working in academia for a poverty level wage. I can confirm from my own experience that when you worry about not being able to pay rent and all the bills, it's very difficult to be productive, much less in a job that requir…

I worked sub-minimum wage for a decade or so; I don't think poverty is an impediment to creativity. It is an impediment to using that creativity (particularly to generate value and/or income), however. Not disagreeing, just trying to add some complexion.

You are right. JK Rowling of harry potter comes to my mind when I read your comment ... In one of her commencement speeches she will draw attention to this exact same point ...

Re: The boss who put everyone on 70K

#178

Post by marcus_holmes »

angarg12 wrote: post #47

> "When money is not at the forefront of your mind when you're doing your job, it allows you to be more passionate about what motivates you," she says. I spent the first several years of my career working in academia for a poverty level wage. I can confirm from my own experience that when you worry about not being able to pay rent and all the bills, it's very difficult to be productive, much less in a job that requir…

I live in Berlin, which has a history of being both poor and having an extremely creative subculture.

It's interesting but sad watching that creativity vanish as the rents rise. There's more money here now, but less creativity.

I think this apparent contradiction is resolved by asking "who had the time to be creative?". When rents were low, artists could make ends meet and still have time to create. As rents are rising, the artists are pushed out, or forced to spend more time making money. The new tenants are people earning decent money, who again are either working too hard to create, or are not "artistic" in that sense (me included).

The old squats and communal housing are being redeveloped, the graffiti-covered walls are being repainted so the houses they cover keep their value. The focus moves from "poor but sexy" to "let's make lots of money". Everyone is richer, except the culture.

Re: The boss who put everyone on 70K

#179

Post by SketchySeaBeast »

palerdot wrote: post #177
pbhjpbhj wrote: post #149

Earlier quoted context omitted.

I worked sub-minimum wage for a decade or so; I don't think poverty is an impediment to creativity. It is an impediment to using that creativity (particularly to generate value and/or income), however. Not disagreeing, just trying to add some complexion.

You are right. JK Rowling of harry potter comes to my mind when I read your comment ... In one of her commencement speeches she will draw attention to this exact same point ...

Isn't it important to look for trends rather than standouts? Just because JK Rowling, who is an extraordinary success story, made it doesn't mean others will, because otherwise JK Rowling wouldn't be extraordinary.

Re: The boss who put everyone on 70K

#180

Post by curiousguy »

I wonder how long it will take for the salaries to normalise comparing with market rate. The salaries increased to 70k minimum, so they’re paying above market rate for a few roles.

The hiring quality will also increased. For example, with a 40k salary, the company could hire someone with 5 years of experience, with 70k, they can find someone with 10 years of experience.

So in a few years the company will get rid of low performance and hired more skilled workers and the salary vs skill will match the market rate again. (with a few exceptions)

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