Thursday, July 11, 2013

Generous Capitalism

A Houston, Tex capital management firm  has given "...50 percent of their profits to charity, capped partner compensation at seven times the earnings of the lowest-paid employee, and have garnered $2.3 billion in assets through a relentless dedication to customer satisfaction," writes a recent Forbes report.

The company  challenges "...its owners, staff, and families to lead transformative change through the joy of giving."

The company's owner told Forbes, “Since (our) founding in 1993, we have maintained a commitment that no full-time employee...can make total compensation greater than seven times the total compensation (salary, bonus, retirement) of the lowest-paid employee."

"The intent behind the policy is multifold: It 1) recognizes the role that all employees play in (the business's) success; 2) helps maintain operational flexibility in challenging economic environments, allowing for continual investment in the business; 3) creates a work environment that attracts, challenges, excites, and fulfills in ways that money cannot buy; and 4) serves to protect from the greed that too often and too easily creeps into company culture."

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