Dan Price, CEO of Gravity Payments made the news before by reducing his own income to ensure a minimum of $70,000 salary for his employees in 2015. Now, the Seattle-based company is drawing attention with their unique response to a recent 55% drop in revenue. Continued revenue drops due to a steep decline in purchases through companies they’re contracted with forced Price to consider either bankruptcy or laying off 20% of his employees. This didn’t sit well with him, so he turned to his employees for solutions.
Price and his COO, Tammi Kroll, met with small groups of employees and discovered everyone was willing to sacrifice a portion of their income to help each other as well as the company make it through the pandemic. While the amounts each volunteered to reduce from their pay differed, every employee took a reduction.
Whatever the sacrifice, if you and your employees commit to it together, it’ll be one of the strongest bonding experiences your company could possibly experience.
At almost every turn, the messages online from businesses and in the news regarding the pandemic are generally not filled with optimism. Some brands miss the mark entirely when it comes to confidence and optimism by coming off completely insensitive to what their customers may be going through. The best method of instilling confidence and optimism in your customers isn’t through well-produced commercials, rather diligently continuing to go above and beyond in services/products you provide. Be there, as opposed to asking them to be there for you. If you aren’t able to deliver expectations, no other messaging your marketing team comes up with has the potential to succeed.
One of the best commercials I can think of that owned the change, but still delivered a message of confidence and optimism was this St. Patrick’s Day ad from Guinness: