Everyone loves a pay raise, and it won’t be long before employees of the web mega giant, Google, get a very substantial one. Across the board! Google’s management has announced that effective January 1, 2011 all of Google’s 23,000+ employees will receive a 10% pay raise, portioned off their current salary. The announcement was made internally in early November, but a leaked memo of the news was leaked, making business headlines. At first hesitant to comment when the news surfaced outside of the company, Google reps eventually stated that their goal is the satisfaction and happiness of their employees.
An across the board 10% raise to the company means well over $200,000 funneled into employees’ paychecks. Being a multi billion dollar giant, Google is a company that can comfortably afford this.
For years Google earned a reputation by being very accommodating to their employees. Though there have been some slow downs, and even cut backs to speak of over the last couple of poor economy battered years, Google realizes that it may be one of the biggest dogs in their line of work, but they are far from the only ones. Other growing giants like Facebook, who has been able to lure potential and former Google employees away with an excellent set of stock offers, are there to compete with the most brilliant minds in the world. Google understands that this drastic move to increase employee happiness and satisfaction is what is needed to not only maintain their solid team, but to attract more brilliant minds that could otherwise end up elsewhere. In fact, the internal memo noted that a survey conducted earlier by the company led Google to determine that salary is the most important factor in employees’ satisfaction, more so than bonuses or equity. Google’s move therefore is driven by what the company perceives as the biggest satisfaction factor to their workforce.
In addition to the 10% raise, every employee will get a $1000 holiday bonus. While in the grand scheme of things, $1000 may not seem like an overly generous bonus, it is certain to not disappoint anyone upon its distribution.
Google has also made it known that they are looking to expand their workforce with the intent of adding several thousand in staff. Google has high standards for their employees, and conducts interviews which test the interviewee’s logical and analytical abilities in problem solving. As any company should, Google is looking for the best of the best, and with how fast the company has grown and the massive innovation that seems to come from them on an annual basis, the strategy is clearly successful. And once a member is accepted into the Google family, they are considered a highly appreciated piece of the company, and rewarded by ample benefits, as well as financial satisfaction.
As Google continues to grow, the brilliant minds already devising their success, and fresh new minds bringing in more ideas, Google’s dominance in the business world will surely continue to grow.