Despite questions over Google’s ability to continue making huge profits, the company has this week given all its staff a huge 10% salary increase and big bonuses.
The report by Business Insidersays that every employee has been given a $1,000 “holiday bonus” on which the company is also paying everybody’s tax, and salary bonuses of at least 10%. The salary rise will take effect from January 1st 2011.
On top of this the company is giving employees an extra raise equivalent to the employees target bonus for the year and introducing new “merit bonuses” based on individual performance.
This is to be welcomed and laudable in a world where too many employees earn little money and those who do all the hard work are under-appreciated.
The salary bill of any large corporation though is the largest part of its costs and for as long as Google’s income and revenue stream relies almost solely on advertising, this could turn out to be a gamble.
Google has long been considered a great company to work for and here’s a good example of why. Policies such as allowing employees a day a week to work on their own projects has resulted in many new innovations for the company.
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It’s easy to give away money when you hardly pay any taxes at all! Google pays only about 2.4% in taxes.
See:
http://www.businessinsider.com/google-bonus-and-raise-2010-11#comment-4cdafe7949e2ae2747070000