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The Benefits of Google Inc.
The benefits and compensation system for Google Inc. is both varied and complex. It offers many options for the worker at Google Inc. And is meant to increase employee retention rates within the company. Compensation and benefits systems enable leaders to generate and maintain a chance for an effective mechanism that stimulates a culture of self-empowerment, creative modernization, and self-motivating employees. Google is among the top companies in promoting self-motivation and innovation within its employee pool leading to its continual success and high profits.
Google Inc. has become one of the top 100 companies in the world with profits increasing since its formation in 1998 and its first public offering in 2004. Ever since the mid-2000's, Google has received a steady wave of success. "Companies like Cisco Inc. And Google Inc. have structured their leadership to provide the best environment to motivate their employees with intrinsic and extrinsic rewards." (Cook 1) With the success however, comes the misses. Amidst high employee satisfaction comes high employee turnover. Although the company values its employees and tries to create a healthy work environment, some articles say Google Inc. has a high employee turnover rate due to competitive offers from rival companies and startups. That still doesn't ruin their reputation as one of the nation's top-producing companies. "They have become top-producing companies that develop some of the best products that have shaped our world, have taught us how to find information, and have taught us how to learn and see things differently." (Cook 1) Thanks to their compensation and benefits package for its employees, Google Inc. became one of the top companies to work for and when polled, Google Inc. employees expressed a high satisfaction rating.
The 84% satisfaction rating comes from: "Free gourmet food all day, the best health insurance plan anywhere, five months' paid maternity leave, kindergartens and gyms at the workplace, the freedom to work on one's own projects 20% of the time, even death benefits." (Bershidsky 1) Employees literally have better benefits at Google than they would if they paid for it themselves. That is why people are dumbfounded when reviewing the information pertaining to the high turnover rate within the company's employee pool. Bershidsky suggests it comes from the mentality of the youth hired from the generation Y group. "No matter how satisfied these highly marketable young minds may be, no matter how much they enjoy the free meals and hybrid car subsidies, they will jump ship as soon as they get bored or get a better offer elsewhere." (Bershidsky 1)
Regardless of employee turnover rates, an organization or company like Google Inc. must make the maximum profit long-term through attracting the best talent out there and retaining them even it is short-term. Google has had continued success in maintaining steady or even increasing profits and through their rigorous entry testing, ensure they are getting top talent to work for them. When they gain the top talent, the company does everything it can to motivate them. The company's now famous rewards has made them the best place to work for since 2009. "Google, Inc. was ranked by Fortune magazine as the best place in the U.S. To work in 2009, and it has reached another zenith by becoming the most popular Web site." (Cook 1)
The company makes most of its profits through delivery of online advertisements. Its primary revenue bases are Google Adwords and Adsense. They have company offices and locations throughout the world and deals a brand portfolio of web-based merchandises and services, which are categorized into six categories: "Google.com, applications, client, Google GEO, Google Mobile and Android, Google Checkout, and Google labs." (Cook 1) With six categories and a growing number of people utilizing the various areas Google markets or services, it's no wonder the company is doing everything it can to gain competent employees who will be inspired and motivated enough to continue the success the company has worked hard to gain.
"The company recorded revenues of $50,175 million during the fiscal year ended December 2012 (FY2012), an increase of 32.4% over FY2011." (Datamonitor 1) Google, Inc.'s corporate culture reflects the mindset and desires of the company's founders Sergey Brin and Larry Page. Brin and Page did not want their company to feed into the traditional 1980's mantra of "greed is good." For them drama in the workplace was unacceptable. They wanted a comfortable and positive work environment for their employees. The mecca they formed, called the Googleplex, became...
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