COMP NEWS – Google’s annual survey, “Googlegeist,” aims to evaluate the satisfaction of the organization’s employees. According to the company’s most recent survey, its employees are becoming unhappy with their current compensation packages.
Google’s annual employee surveys, internally called “Googlegeist,” show that a growing number of staffers don’t view their pay packages as fair or competitive with what they could make in a similar role elsewhere. They are also questioning their employer’s ability to execute.
Less than half of Google’s workforce stated that their current compensation package is competitive compared to other compensation packages within the industry. The number of employees who feel this way has decreased from last year.
Only 46% of survey respondents said their total compensation is competitive compared to similar jobs at other companies. That’s down 12 points from a year earlier. A modestly higher number, 56%, say their pay is “fair and equitable,” a drop of eight points from the prior year. Some 64% of employees said their performance is reflected in their pay, down three points.
The survey also pointed to concerns about compensation keeping up with the rising inflation rates, and Google stated that they would not allocate cost-of-living raises to combat inflation.
Pay is a matter that Google executives have been forced to address of late. At an all-hands meeting in December, Frank Wagner, Google’s vice president of compensation, responded to concerns about rising inflation and whether the company would provide any sort of increase. Wagner said Google would not implement a blanket raise to match inflation.
In contrast to Google employees’ stagnant compensation rates, Google’s revenue, as well as executive pay, has been booming.
Meanwhile, revenue has continued to surge, executives have received pay bumps and the stock price hit a record in November before falling with the rest of the market.
To read more about Google’s employee compensation and satisfaction, click here.
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