Microsoft is reportedly thinking about bumping many employees' pay, following similar moves from other tech giants, in a bid to stay competitive with its rivals.
Citing two unnamed sources, Insider reported Wednesday that Microsoft may announce a change “as soon as Monday.”
Microsoft has reason to worry about retention, Insider reports. In Microsoft’s most recent “Employee Signals” poll, which employees reportedly answered in March, only two-thirds of respondents said they’re getting “a good deal” in terms of what they’re giving the company and receiving in return.
Microsoft is reportedly concerned about employees leaving for (or being poached by) Amazon specifically. The company more than doubled its base compensation cap from $160,000 to $350,000 earlier this year, and has reportedly been handing at a record amount of stock grants — $6 billion, to be exact.
Even as the last couple of weeks have seen powerhouses like Meta, Uber, Robinhood and Netflix initiate hiring freezes and layoffs, Big Tech is still feeling pressure to retain top talent. Apple and Alphabet have also made moves in recent months to boost morale and retention. At Apple, some employees have received six-figure “retention grants” and at Alphabet, employees can now receive bonuses “of nearly any size for nearly any reason.”
Climate TRACE's data show emissions at the facility-level.Image: Climate TRACE