The zeitgeist of Google is angry about compensation.
Or should that be the “Googlegeist?”
That’s the name of an annual survey, and Google released the results of the latest edition earlier this month. Though it found that an overwhelming majority of employees are satisfied with the company’s mission and values, as of January, just a little over half said they believed their compensation packages are competitive, a number down from last year.
As you might expect, compensation was a key topic of discussion at a recent all-hands meeting with company executives, CNBC reports.
Via Dory, an internal Google tool the company uses to facilitate dialogue between speakers and attendees during events, employees subjected senior leaders at the search engine giant to a slew of tough questions over pay. Executives including CEO Sundhar Pichai and VP of total rewards (compensation and stock packages) Brett Hill were front and center.
“Compensation-related questions showed the biggest decrease from last year, what is your understanding of why that is?” asked one employee.
Hill replied: “It’s a very competitive market and you’re probably hearing anecdotal stories of colleagues getting better offers at other companies.” He also noted that employees are likely feeling the effects of inflation or the impact of location changes on their salaries.
(Last summer, the company announced that it would alter salaries to reflect local markets for employees who moved or opted to work from home permanently.)
“Amazon adjusted base salary cap, Apple reportedly used RSU bonuses,” wrote another employee, who then asked how Google is planning to respond to its corporate peers in terms of compensation in a tight labor market.
Hill noted that when considering the 81 companies Google typically competes with for talent, there’s been no trouble with recruitment. “We already compare favorably to these companies. We are able to hire from them,” he said. “We will make changes if and when we need to.”
When pushed by another employee about the drop in employee compensation satisfaction, Hill said: “This trend — it is concerning to us and we are keeping a close eye on it.”
“We know that our employees have many choices about where they work, so we ensure they are very well compensated," said a Google spokesperson in a statement provided to Fortune. "That’s why we've always provided top of market compensation across salary, equity, leave, and a suite of benefits. Getting employee feedback is important, and we'll continue to ensure we pay competitively everywhere our employees work and help them grow their careers at Google.”
This story was originally featured on Fortune.com
(Bloomberg) — Apple Inc. is paying a small number of engineers another round of special stock bonuses as part of an unusual push to retain key talent, according to people with knowledge of the matter. Most Read from BloombergLow-Priced Omega Speedmaster Prompts Global Swatch Store ChaosChina Crash Mystery Grows as Evidence Signals Midair BreakupUkraine Update: Biden Says Putin ‘Cannot Remain in Power’Apple Is Working on a Hardware Subscription Service for iPhonesSony to Unveil PlayStation Subsc
U.S. President Joe Biden said that Russian President Vladimir Putin "cannot remain in power" Saturday during a speech on Russia's invasion of Ukraine, given from Poland.
The metaverse could bring unlimited opportunities and freedom, but it would not be where it is today without Mark Zuckerberg’s leadership.
The hacker later returned some funds, but only to those who lost less than $100,000.
U.S. gas producers like Coterra Energy, EQT, and Southwestern Energy, and those that process and transport the gas, like Cheniere and Energy Transfer, stand to gain.
(Bloomberg) — Deutsche Bank AG fired a number of top bankers in New York after a tab run up at a strip club was expensed as legitimate business spending, according to people with knowledge of the matter. Most Read from BloombergLow-Priced Omega Speedmaster Prompts Global Swatch Store ChaosChina Crash Mystery Grows as Evidence Signals Midair BreakupUkraine Update: Biden Says Putin ‘Cannot Remain in Power’Apple Is Working on a Hardware Subscription Service for iPhonesSony to Unveil PlayStation Su
(Bloomberg) — United Co. Rusal International PJSC, the huge aluminum producer fighting blow-back from Russia’s war in Ukraine, is getting some help from traders in China to keep its smelters running.Most Read from BloombergChina Plane Crash Update: Search Continues for Second Black BoxPutin Adviser Chubais Quits Over Ukraine War, Leaves RussiaNATO Boosts Forces in East Amid Chemical Incidents WarningApple Is Working on a Hardware Subscription Service for iPhonesChina Crash Mystery Grows as Evid
Gazprom has asked India's largest gas transmitter GAIL (India) to pay for gas imports in euros instead of dollars, two sources said, in a sign the Russian energy giant seeks to wean itself away from the U.S. currency in the wake of the Ukraine conflict. European countries and the United States have imposed heavy sanctions on Russia since Moscow sent troops into Ukraine on Feb. 24. GAIL has a long-term gas import deal with Gazprom Marketing & Trading Singapore to annually buy 2.5 million tonnes of liquefied natural gas and has been settling trade with Gazprom in dollars.
Durable economic trends are generating strong demand for the company's products. Here's what's in play.
A key part of your retirement financial plan may be based on a faulty assumption. In addition, by earning all you can, you postpone further into the future the time when you have to start withdrawing from your retirement portfolio. Many financial plans are based on the assumption that you will make those large contributions and postpone retirement withdrawals as long as possible.
Nvidia founder and CEO Jensen Huang sees automotive chips and technology as the company's next multi-billion-dollar business.
While high gas prices are a burden on low income consumers — it's the middle class that's being impacted the most from rising fuel costs, says one economist.
Rising gas prices have widened the cost gap between fueling an electric vehicle and a gas-powered, internal combustion engine car.
(Bloomberg) — For close to four decades, one Japanese company has been trusted to move silicon wafers around inside the factories of the world’s biggest chipmakers. Now it’s going back to the drawing board and redesigning its ubiquitous overhead conveyors to handle an “exponential” surge in data usage and global chip demand.Most Read from BloombergLow-Priced Omega Speedmaster Prompts Global Swatch Store ChaosChina Crash Mystery Grows as Evidence Signals Midair BreakupUkraine Update: Biden Says
Berkshire Hathaway CEO Warren Buffett has said that his company's "favorite holding period is forever." The famously successful moneyman's ability to identify businesses worth holding for the long haul has helped his company benefit from winners that kept on winning, translating into portfolio performance that has absolutely crushed the broader market. With Buffett's incredible success in mind, taking some inspiration from the Oracle of Omaha could help take your portfolio to the next level.
New Delhi has faced criticism for its longstanding ties with Moscow. But at least for now, a big shift toward Russian-oil imports looks unlikely.
"High-frequency data suggest that consumers are beginning to react,” notes Natasha Kaneva, head of commodities research at J.P. Morgan.
"Uber has been granted a London private hire vehicle operator's license for a period of two and a half years," a spokesperson for Transport for London (TfL) said in a statement to Reuters. In 2019, Uber lost its license to carry paying passengers in London for the second time, and a year later the ride-hailing firm was granted an 18-month London license after a legal battle to restore its operations.
Baker Hughes (bkr) on Friday reported that the number of active U.S. rigs drilling for oil was up by seven to 531 this week. The total active U.S. rig count, which includes those drilling for natural gas, also climbed by seven at 670, according to Baker Hughes. Oil prices continued to edge higher in Friday dealings, as reports of an attack on a Saudi oil facility fed supply concerns.
‘People like us have to filter out the unsavory content. Somebody has to suffer and see this stuff so nobody else has to’, one TikTok moderator alleged
Google execs cornered by employees at all-hands, demanding to know why Amazon and Apple are paying more – Yahoo Finance
The zeitgeist of Google is angry about compensation.