Employees – of any company – are always looking for more than a decent pay increase each year. Even more so, when inflation is rising. However, it seems Google They believe that rising inflation is not a sufficient reason to pay additional wages to the employees. According to a report by CNBC, google employee In the all-round meeting, questions were raised on inflation and wage increase.
In virtual meeting, Google CEO Sundar Pichai Read a question that was on the mind of many people. “With US inflation rates as high as 7%, some companies are making blanket wage adjustments only to cover inflation,” Pichai said. “Are there any plans for Google to do the same?”
Interestingly, Pichai did not answer the question, but directed it towards Frank Wagner, vice president of compensation at Google. According to the report, Wagner said that he understands the concerns of employees and why inflation “seems to be top of a lot of people’s minds, and I think one of the reasons is that people are so eager to get their compensation.” It works,” Wagner said.
He further added that the company has no plans to make “any kind of across-the-board type adjustments”. Wagner argued that instead of giving everyone a small increment, Google wants to adjust it to “pay by performance.”
“When we see an increase in price inflation, we also see an increase in the cost of labor or the market wage rate,” Wagner said. “They have been higher than in recent times and our compensation budget has reflected that,” he said.
According to the report, the company leadership will issue letters to managers this week and employees will know how much compensation is being paid for the next year.
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