New Delhi: Retaining talented employees is the aim of a big tech company like Microsoft to get quality work. Money doesn’t matter for the Microsoft giant in the case of an excellent result. The company wants to end the plight of the employees. The CEO of Microsoft, Satya Nadella, has revealed wonderful news to the company’s employees, as they will get a salary hike soon.
Satya Nadella informed the employees through an email that Microsoft “nearly doubled the global merit budget” and is allocating more money to people who are in the middle of their career. All the gigantic companies all over the world are mulling raising the salaries of their employees to attract the best possible talent.
“Time and time again, we see that our talent is in high demand, because of the amazing work you do to empower our customers and partners. Among the leadership team, your impact is both recognised and deeply appreciated — and for that I want to say a big thank you. That’s why we’re making long-term investments in each of you,” Nadella’s email to his employees, which was obtained by Geekwire, read.
Big companies will hike salaries
Microsoft, along with some other noted companies, has decided to increase pay for their employees. Amazon in February did the same, doubling the maximum base pay to $350,000 for corporate and tech employees, up from $160,000 previously. Companies take such steps to hire extraordinary talent along with retaining existing employees.
Nadella also informed the employees that the company is making “a significant additional investment in our compensation programs,” which is way beyond its normal budget.
“Specifically, we are nearly doubling the global merit budget. Merit budgets will vary by country, based on local market data, and the most meaningful increases will be focused on where the market demands and on early to mid-career levels. “We are also increasing the annual stock ranges by at least 25 percent for all levels 67 and below,” he stated.
The employees who have reached Microsoft’s “partner level,” such as general managers, vice presidents, and other top executives, may not get as much as the other employees.
Google is not behind in salary hikes. In the month of January, it raised the salaries of its four top executives. Their base salaries were hiked from $650,000 to $1 million.
Top most companies always try to entice quality employees so that they can meet the high demand of the company. Despite the economic slowdown in most part of the country due to Covid-19 and some other reasons. The big MNCs are not behind to keep their employees intact by hiking their salaries.