Why Dan is my hero

You’ve probably never heard of Dan Price, a business owner in the United States who pays all his employees a basic salary of $70,000?
It was in 2015 that the young CEO, whose Gravity Payments finance company is based in Seattle, decided to reduce his own annual $1 million-plus pay package and reward his 120 colleagues for their endeavours in an extremely meaningful way.

In real terms, the move doubled the average salary of everyone who worked for the company. At the time, Price said the driving force behind his decision was ensuring his employees “were making enough to look after themselves”.

He was called “crazy’ by many. Others simply shook their heads, saying the scheme was a PR "scam" and the company’s fortunes would suffer as a result.

Fast forward six years and revenues and profits have soared, while staff have remained loyal, happy – and extremely productive.

Speaking to the US media, Price said: “It's been over six years and we've had really fantastic results. We'v...