Skip to content

OurlifeXp Singapore

Covering Finance, Travel, Food & Life Experiences

Menu
  • About Our Life XP
  • Contact Us
Menu

Do You Support High Min or Similar Wage for Everyone?

Posted on February 29, 2020March 1, 2020 by EntityX

Saw this article about the first CEO to raise everyone’s wages to have a min wage of 70k. His inspiration was when he met his landlord, who has two jobs and works 50 hours a week but still unable to make ends meet in the city of Seattle. 

This is very interesting to me as how many of us would do this? Firstly paying all 120 staff in the company a minimum of $70k and taking a pay cut of $1 million himself to make this happen. 

Lessons learnt here after 5 years 

  • The company grew bigger as everyone didn’t need to focus on their basic needs, they all focused more on driving value for the company
  • Staff morale is better, junior staff taking up more and seniors have more time to take time off, better well being for everyone
  • The feel good factor of helping a fellow human, friend, colleague. Often times colleagues are our family more than our own family due to the Long hours we spend at work. 

I wonder if any Singaporean or Asian companies will follow suit? Helping look at setting a min wage or equal wage for everyone. Would this buy employee loyalty? 

Read the full article on bbc here – https://bbc.in/3aj05aN

Image source – pixabay

Leave a Reply

You must be logged in to post a comment.

Categories

  • Earn
  • Experience
  • Invest
  • Protect
  • Save

Recent Posts

  • Interactive Brokers Lifting Inactivity Fees in Singapore
  • How To Buy Travel Cake TVL coin on Pancake Swap?
  • Saving for Kids Higher Education, What Ideas Do You Have?
  • Cheeky Marketing to Counter Competition Price Increase
  • Gemini Personal Bank Account for Crypto Trading
  • HDB Landed Properties in Singapore, Worth It or Not? Here’s My Personal Opinion

Popular Terms

brokers Business Car accident Covid CPF Credit Cards Cryptocurrency Deals Earn eCommerce Economy Equity Finance Financial Fears Financially Free FIRE Fire Movement food Home Loan Home Purchase Hotel income insurance Interest Rate Investment Jobs Medisave Mortgage News OCBC Bank Prime Property Retirement Retirement Income Sales Save Savings Savings Account Singapore Singaporean Singapore Bank singapore sme stock market Stock Trading Travel
© 2025 OurlifeXp Singapore | Powered by Superbs Personal Blog theme