Google Aims for Employee Retention with Pay Raise

By Richard Gibson
Nov 10 2010

Silicon Valley search giant Google announced this morning that they will be increasing the pay of all employees by 10%.

This new announcement comes as no surprise to many in Silicon Valley. For the past several years Google has been losing some of their top talent to other tech related companies.

Poaching of employees is a common practice in the tech world. Every company wants the brightest talent on the market and they are not shy about luring people away from their competitors with promises of higher pay and better benefits.

However, Google has long been known as one of the top companies to work for in the tech world. Their standard pay rate is well above the industry standards already. However, the economic woes have taken their toll on the tech employees.

An internal audit showed that Google employees were more concerned about pay then they were with benefits and stock compensation. This prompted the new pay raise which will include officers and employees throughout the large company.

Google stocks were down this morning after the announcement but they are expected to bounce back as the day continues.

Google continues to fight a war of words with Facebook over the closing of the Facebook access point in the popular Gmail service. Facebook engineers have called this move childish and unprofessional.

Google also announced in a company memo that they would provide each of their employees, below the executive level, with a $1000 bonus for the Christmas season.