Obviously, keeping employees as opposed to training new employees is less expensive. Additionally losing talented individuals is also very costly. Google has announced that they will be giving a 10% raise to all their employees effective in January and if that’s not enough all the employees will also each receive a $1,000 christmas bonus. Merry Christmas, indeed! Google has nearly 23,000 employees which means that Googles Santa Clause has a whopping $23,000,000 check in their pocket.
Many site reviews are saying that Google is in a war with Facebook. Whereas, Google is trying to keep many of their talented employees from moving over and joining Facebook. About 10% of Facebook’s current employees are Google veterans. Especially over the past couple years several of Google’s Executive employees who have worked on company advertising and managing teams of Google Chrome and Android have joined Facebook. However, the email that went out to all the Google employees specified that the company wants to lift morale. “We want to make sure that you feel rewarded for your hard work,” Eric Schmidt, Google Cheif Executive, wrote. “We want to continue to attract the best people to Google.” Very convincing and upbeat. In either case of Google’s intent, the employees should feel proud to work for such a respected and well-known company.
The irony of this whole madness is that Google has began testing a new mathematical formula to try and predict what kind of employees are most likely to leave the company. These formulas are based on factors like employee reviews, attendance, and individual personality tests. If Google can nail this formula down they will hold an even stronger ground than they currently stand on.
The big boys at Google always seem to know what they are doing, so let’s just try and keep that in mind and see if any other companies take lead from the Google Generosity and start paying their employees more to stay with them.