Google’s Reward Strategy
Not only is it important to recruit top talent, it is also equally crucial to offer rewards that are able to motivate them and retain talent at Google. According to Google.com (2011), their benefits viewpoint is “to make every effort to be innovative and one of its kind in all services they offer whether it is to customers or employees, including their benefits and perks offerings”. This is because they realise that each of their employees are unique and have various needs, and the diversity calls for flexible and individual-centred support. They place importance on offering a made to order program that can be adapted to the particular needs of every employee.
According to Google.com (2011), Google not only offers stock options but also extra perks such as such as gourmet meals and so on. Google’s benefits tries to help make life better for their employees in every aspect. These benefits are necessary because employees at Google often have to work long hours and be able to handle high pressure. According to theroundtable.com (2008), Google’s founders’ awards are worth millions of dollars and the awards are rewarded to employees that have worked on exceptional innovation based projects. In addition to the Founders’ awards, stock options, as well as bonuses, which are both company and individual performance based, are given out each year (theroundtable.com, 2008).
According to a McKinsey Quarterly (2009), they found that three non-monetary motivators such commendation from direct superiors, attention from leaders and top management, and an opportunity to spearhead projects or task forces were either equally effective or more effective motivators than the three highest-rated monetary rewards such as cash bonuses, increased base pay, and stock or stock options; and all these can be found in Google’s practices. According to thinkingleaders.com (2010), the intrinsic reward for employees working at Google are small work groups, sense of...
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