“Businesses love to talk about caring for people, but the conventional wisdom is, what really matters in these situations is your balance sheet,” Dan Price says. “Leaders will do layoffs deeper and quicker than needed so they can start rehiring sooner and manufacture a comeback story.”
In 2015, he boosted the minimum pay at his business to $70,000 a year and even cut his to match. He has been labeled a socialist, and conservative pundits have been expecting his downfall. Instead, Dan Price has succeeded by relying on the employees that helped him build his company, and treating them like family with salaries that allow them to live secure lives.