Free «Google Inc. Compensation Package» UK Essay Paper
Modern organizations, that develop in a fast-growing economic conditions and high level of competition, try to do their best in order to manage their employees, which has always been the most valuable asset to any company. Human resources professionals play a key role in implementation of the strategies that are further responsible for the companies’ positive development and changes as they develop and promote compensation package. Thereafter, the objective of the following paper is to look into the compensation package of Google Inc. and analyze it in order to offer certain improvements.
Compensation of the employees might seriously influence the motivation (Igalens, Roussel, 1999). Workers of this company are offered a tremendous opportunity to grown and develop. It offers classes and team trainings, and individual presentation skills, business writing, delivering feedback, management/leadership, executive speaking and others. Free classes to learn foreign languages are given and particular attention to engineering is provided at Google, as special Engineering training group has been created. Google Inc. has certain mandatory trainings and focuses a lot on development of future leaders.
Company has good benefits that include unlimited sick leave, 27 days of paid vacation after the worker has been employed for over a year, medical and dental facilities, car wash, free food, banking centers and other advantages. Moreover, managers and employees take part in decision-making processes. Google understands that some people might be shy in expression their opinions, that is why the company offers web communications, blogging, discreet feedback options and other (Gupta, 2009).
Actually, this company is considered to offer one of the best compensation packages in the Silicon Valley. Thereafter, beside one of the highest salaries, this company offers 50% salary to the spouses of the deceased workers in ten years, free haircuts, swimming pool free attendance cards, free food in certain locations, on-site small medical facilities, paternity and maternity leave, and other entertainment and health improving programs (Thangham, 2008).
Google Inc. is one of those companies that “accumulate massive amounts of data including personal information such as names, addresses, and social security number” (Werner, 2008). The government of the United States has special institution that is known as Equal Employment Opportunity Commission, which is dealing with any complaints regarding sex, age, color, religion and any other motives for discrimination. Thus, the commission has rules, which are “in favor of the employer or the employee” (Business & Legal Resources, 2014). Google Inc. is fully in compliance with all the rule of EEOC, as it has a strong diversity policy that targeting any discrimination at a workplace. The HR department of this company puts a lot of efforts to recruit many diverse people, and the proof to that is a healthy balance present among the company’s workers. Compensation package is the same beneficial for everyone (Google Company, 2014).
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Other important regulations of Google Inc. are to be complaint with the rules of private policy enforced by the Occupational Health and Safety Administration (OSHA). Actually this agency is created on a federal level and any company that operates in USA or has headquarters in its territory is obliged to follow the rules and regulations that are imposed by the mentioned institution. The company has extremely strong code of conduct that ensures compliance to all regulations. Thereafter, the company ensues that working conditions are safe and everyone is treated with dignity and respect. It cares deeply about employing only on a free-recruit rules, against human trafficking and child labor (Google Company, 2014). In terms of development, Google Inc. treats its employees very positively and does much for their development. The training begins just after the hiring process is finished. Google Inc. is interested in providing its workers with bright future and makes everything possible to help them to achieve their dreams and goals. Moreover, the company offers its employees to look into different types of training even if sometimes they do not correlate with their existing professional skills. The Human Recourse department believes that any type of training is definitely beneficial. Moreover, the company is keen to grow more leaders and people, who occupy top managerial positions. Employees have many opportunities in this company in order to continue their professional development, training and educations what is one of the beneficial factors (Cope, 2012). Despite the high level of satisfaction among employees, Google did not stop and reinvented HR in 2013 with the help of analytics. It has introduced a new management system that is built around greatness (Sullivan, 2013).
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This is also important to mention that Google Inc. offers also one of the highest total compensation salaries. Thereafter, the engineers in Google have not only high salaries, but a huge amount of non-salary compensation that might reach up to $1 million per year. The number is huge, but quite realistic, as the questioned respondents have stated that they have an average total compensation around $144,652; $118,958 of average salary; $20,946 average cash bonus; and $30,933 average stock bonus. The data is as of 2014 and may vary form position to position, thus the numbers are extremely high (Johnson, 2014).
Another point of the following research paper is related to the investigation what compensation packages are considered poor, average and excellent in comparison to Google Inc. Thereafter, the basic compensation package that might be called ‘poor’ is he one, which is required by the law and is mandatory. They include social security, public assistance, supplement security income, workers’ compensation and unemployment insurance. Moreover, certain companies offer only medical or life insurances as a part of insurance coverage that is significantly decreasing the cost the company has to cover.
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In conclusion, this is important to mention that compensation package that is managed by HR department of the Google Inc. is extremely good, and leaves the workers quite happy. Thus, the company still faces problems that are related to the loyalty of its workers as in 2013 the turnover rate was quite high, but they are related mainly to the fact that the main workers belong to generation Y, which is considered to be unstable and often seeks for new positions on the employment market (Hernandez, 2013). Based on that the main recommendation for improvement that is related to compensation package is to create a system that would give more bonuses for those, who state longer with the company.
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