On April 15, 2015 at 17:09, Mr. Stanley said...
Not surprized by the usual cynical attitudes here.
It's socialism / communism it will fail / the guy is lying / I'd be resentful of the others / they don't deserve what I have / this has nothing to do with helping / its just a PR ploy...
I think I need a beer.
He's spreading the wealth. That is close to socialism I suppose, and maybe in time, if enough of the old timers bitch, he'll come up with some fair compensation for those crybabies, er, I mean, team players.
And Goldenrule, I don't live in fairytale ville---I've manged people before, and you can't please everybody... I had a friend who won a two million dollar lottery, and he still wasn't happy & bitched about the taxes he had to pay etc.
Some people see the glass half full while the others see it half empty-right?
I think it's an interesting experiment, and nobody is being harmed.
Sure there will be some resentments, but being that everybody is getting fairly well compensated.
I'd say that those resentful employees (if that occurs) can accept it, or go work for some other credit card processing company where everybody is treated like shit.
Those same people should also be glad the owner hasn't decided to outsource the company to India, like so many of these companies have done.
So far, I have seen two versions of this story- the first showed that he was taking the $70K salary and raising all minimum wage workers to $70K, using the $900K reduction. Paying minimum wage works out to about $17K for each, so they would get a $53K raise. That means he has about 16 employees. Your version shows that he has 120 employees, so the average raise will be $7500. Adding $900K to the salary pool means the average pay will be only $5500 more.
At some point, somebody has to start doing the damn math when these stories come out. He may have added $900K to the pool, but 120 people making $70K is ridiculously easy for someone to multiply in their head and the math just doesn't work. 120 people making $70K/year comes to $8.4Million and the current salaries total $5.76 Million.
Here's the other version-
[Link: facebook.com]Making everyone equal will probably cause resentment, now that everyone knows about this. If they all got a percentage increase, it may have been better, although I think the amount should have been disclosed to each person separately.
