retention

Googlers Get 10 Percent Raise

In order to prevent staff defection, Google will be giving all executives and staff across the globe a 10 percent pay raise effective in January. Sources close to the company have said Google’s CEO Eric Schmidt sent an email to employees saying the raise will help “make sure that you feel rewarded for your hard work," and “continue to attract the best people to Google." Google is pumping up efforts to stay ahead of competitors, such as Facebook, that employ Google veterans. Analysts say the pay raise comes at a price in terms of Google’s profit, but shows how important employee retention is for the company. The company posted strong third-quarter results and is now working on a mathematical equation to see which employees are most likely to leave based on employee's reviews and other factors.