Implementing Compensation System and Securities in Google
Google one of the world’s leading company in terms of online services has a unique way regarding compensating their employees. Google, an American based company that provides internet related merchandise and services such as cloud computing, advertisement engineering and their hunt engine, which are the most popular services that they provide. To provide the services they offer regularly, they need to manage almost 85,000 employees all around the world. To motive the employees and make the work done in a unique way their compensation system plays a key role.
In one of the article published by Jessica Lombardo, she argues that Google maintains a competitive compensation strategy and a holistic career development policy. Their program ensures that every employee is given considerable opportunities for personal and professional growth (Lombardo, 2017). Google’s compensation strategy includes the elements that are above what market offers including high salary, comprehensive incentives and in conventional benefits, financial benefits, moral benefits, medical insurance retirement pension, on site fitness facilities and even free meals at the office locations (Assignment help experts, n.d.).
As per SVP of Google, Laszlo Bock argues that the staffs of Google are paid unfairly. Yes, he said they are paid unfairly, adding two people in the same role can earn dramatically different amount in Google. The dramatic difference in the pay is determined by the impact of individual to the company influencing their rewards. He says there has been some instance where a most junior employees make far more that average performer at more senior level of jobs. It is argued that this method is a proactive method to determine pay inside Google and it is fair to pay unequally as it recognizes top performers than to pay more who has put less value to company. In the same article it has shown that Google hires top talents from the world and can spend millions of dollars if they feel they are the right fit in terms of Google’s culture, work and position requirements. This policy of investing money has outnumbered other competitors who are competing with Google in the market (Feloni, 2015).