Pay Your Employees Enough to Thrive or Get Out of Business
Facilitated by CAREY SMITH, Founder, Big Ass Fans and Unorthodox Ventures
People and profits need and benefit each other. It’s impossible for rank-and-file employees to build wealth – even with a 401(k) – if they are not compensated fairly or offered a stake in the company. If you can’t afford to pay your employees fairly and offer strong health benefits, you may need to revisit your business model. If you’ve been thinking of ways to give every employee equity in your company or to make team members think and act like an owner, join Carey Smith to develop ideas and learn from your peers about how they have been able to foster an ownership mindset in their businesses and how higher wages may help you attract and retain a better workforce.
In this session we’ll discuss why:
- It’s vital to build a revenue-producing business model at a company’s onset
- It pays to pay more, as you attract better people who work harder for you
- Companies should invest in events and engagement to bring employees together across different departments
A career entrepreneur, Carey founded Big Ass Fans in 1999, bootstrapping it to a $500 million sale in 2017. Carey founded Austin-based Unorthodox Ventures, an investment firm aiming to upend the parasitic VC model.