If you’ve been wondering why Microsoft doubled employees’ salaries, you’re not alone. The tech giant announced a worldwide pay increase for its employees, doubling its budget for merit-based raises. The company also plans to increase stock-based compensation by at least 25%, aimed at helping employees cope with inflation. While the pay increase is good news for employees, it may not be enough to retain the company’s best and brightest.
Microsoft CEO Satya Nadella Made an Official Announcement
The pay raises come in the wake of the talent shortage in the technology sector, which is now worse than the national unemployment rate. Microsoft recently passed Apple, Inc. to become the most valuable publicly traded company in the world. While this is a good sign for Microsoft, there is also a shortage of IT workers and a tightening labor market. The company’s move to boost salaries should help it beat out rivals like Amazon, Google, and Facebook. All the employees will be glad to this news, as far as we know this news is getting viral on the web. Tons of users show so much interest in knowing more details about this.
As per the recent report, the CEO of Microsoft Satya Nadella has made an announcement officially. The salary of all the employees working in Microsoft will be doubled then now, do you know the reason behind this? If you do not know then we will let you this. The reason is motivation and not to resign from the company. Yes, you heard right, it was done to motivate them and work harder for the company. One more reason has been mentioned that Microsoft does not want to lose its employees.
Reasons Behind Microsoft Action
As we know old employees or existing employees are the keys to a growing organization. There are many other organizations which are offering many facilities to the employees. So that they do not leave the company and stay for a long time. Some offer two or three days off weekly, and some offer fewer work hours. All the companies have their own way to keep their employees. I think this action will motivate other companies to think about something in order to keep their employees. Even employees are also feeling happy. In the course of time, things are changing in the corporate world.