Benefits and Compensation System of Google Inc.
Compensation and Benefit Systems MGMT 365A
Google Inc. is an American international organization that provides internet related products and services. Cloud computing, advertising technologies, and their search engine are among the most popular services that they offer. Google recently ranked 46th on the 2014 Fortune 500 companies and 1st on Fortune 500's best places to work for. Google was founded in 1998 by Larry Page and Sergey Brin who met at Stanford University and is based out of Mountain View, California. Google began in a garage sixteen years ago and now has over 48,000 employees and is one of the world's technology leaders. CNN Money has it ranked as number 1 on list of most popular employers by business and engineering majors. "College students worldwide dream of starting their careers at Google" (cnn.com). A large part of the reason that Google ranks so highly among lists of popular employers is due to their competitive compensation strategy.
Google Appliance as shown at RSA Expo 2008 in San ...
English: Left to right, Eric E. Schmidt, Sergey Br...
Sergey BrinGoogle is known not only for their innovative technology breakthroughs but also their innovative compensation policies. Google Human Resources performed a survey to determine what type of pay is preferred by its employees such as base pay or bonuses. "We've heard from your feedback on Googlegeist and other surveys that salary is more important to you than any other component of pay (i.e., bonus and equity). To address that, we're moving a portion of your bonus into your base salary, so now it's income you can count on, every time you get your paycheck" (ibtimes.com). Managing Human Resources and compensation strategies effectively is vital to organizations within the modern and fast paced business world. Google had created a strategic compensation that gives them a competitive advantage among their competitors by attracting, retaining, and motivating highly talented...