Google has offered its 20,000 employees monetary incentives for 2011, a move seen as a precursor to its high employee turnover – something that has seen a high number of staff leave to join other companies.
Google will give staff 10 percent pay increase across the board, and a $1000 holiday cash bonus (Google will pay the tax so the employee gets the full amount), which will take effect on 1 January 2011.
Employees will also receive an additional raise equivalent to 1X the employee’s target bonus for the year, according to BusinessInsider’s Henry Blodget.
With 23,331 employees as of September and assuming an average salary of $100,000, the new bonus plan will cost Google $256,641,000 next year, including the $1,000 holiday gifts, one percent of Google’s estimated revenue for 2011.
In Search of Perfection – Benefits & Incentives | Recruitment using longtail search engine optimization | E-learning for the Future Workforce – Training & Development | The new trend of office space design | Corporate culture has shifted – Workforce Management | Happy Birthday, eLearning! My, How You Have Changed! | The best candidates could be right next door