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Category: Money

Holiday Bonus and Salary Appraisal from Google

Written on November 11, 2010 by B Waldorf

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Since the holiday season is just around the corner, Google gives out holiday bonuses and raises to its hardworking employees. This maybe the reason why the company was billed as one of the best employers in the world.

Now it is clear why topped Fortune’s list of the best companies to work for. The search engine company gave their employees a increase of more than 10% and a $1,000 holiday . The source also noted that will pay for the taxes as well as give employees salary appraisals equivalent to their target bonuses for the year.

A memo form the CEO Eric Schmidt of Google confirmed this.

“We’ve heard from your feedback on Googlegeist and other surveys that salary is more important to you than any other component of pay (i.e., bonus and equity). To address that, we’re moving a portion of your bonus into your base salary, so now it’s income you can count on, every time you get your paycheck. That’s also effective January 1st. You’ll be receiving an e-mail shortly with further details about these changes to your compensation. And one last thing…today we’re announcing that everyone will get a holiday cash bonus, too,” the memo said.

Spokesperson from Google hasn’t provide any details but neither denied the news.

“While we don’t typically comment on internal matters, we do believe that competitive compensation plans are important to the future of the company,” the spokesman said.

Google has more than 23,000 employees, and cash bonuses will cost it $23 million while the might cost them $1 billion. But surely for a company like Google, this isn’t much. This might be their way to thank their loyal employees.

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