Would it be smart to legally cap my income based on the estimated income of my lowest paid employee?

Question:

I'm sure that subject title is incredibly confusing.
"Why would anyone want to legally bind their executive salary to their worst paid employee's income?"

It's actually pretty simple. I want to make sure mine, or any other future owner's greed cannot take priority over the staff's lively hood.

This percentage would be legally bound by a percentage that cannot be changed. The number is arbitrary but shouldn't be to low or too high. We'll say for the sake of this thought experiment that I set it at 500%.

This means that if I have a job and my lowest paid employee is making 200$ for that work, then in turn the maximum I could make would be 1000$.

Now say I bid on the job and I get settled in for 10,000$ for the entire job as pure take home profit to be distributed. Well if I'm only paying 200$ to my lowest paid employee. Then I'm still only seeing 1000$ of that total 9,800$ that's left over.

I have 2 options here. I can either raise floor my employees wage to make up the difference. Meaning my employees get paid more for their labor, and I am now legally allowed to take more as well. Or, I could continue to charge the lower rate, and put the profit left over into the company account, where our financial team could then allocate the funds for company growth or tax expenses.

Perhaps this is a very basic question, and I'm obviously very new to running any sort of company. Still in the flying by the skin of my teeth phase setting everything up. But thank you for taking the time to read this!

Answer:

Setting your salary as a fixed proportion of the minimum salary may signal your commitment to invest excess earnings back in the company. This could generate more optimism in the company’s future growth and interest from potential investors. However, some may not be so credulous of this motivation: how can one be so fully and consistently be dedicated to the company without a big financial incentive? As we frequently come across in the news, investors may be convinced that mega incentive packages are important for CEOs to grow companies into industry leaders. Nonetheless, as you noted, your proposal could enhance employee morale and strengthen a sense of solidarity within the organization, particularly during challenging times.