Microsoft To Boost Salaries And Stock Compensation, In A Bid To Retain Employees
In a bid to retain employees, tech giant Microsoft is doubling its global budget for salary hikes and stock compensation.
New Delhi: In a bid to retain employees, tech giant Microsoft is doubling its global budget for salary hikes and stock compensation. The range of stock compensation Microsoft offers to some of its workers will be increased by at least 25 per cent, the media has reported. The tech giant's salary package comprises bonus, base salary and stock.
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“As we approach our annual total rewards process, we are making a significant additional investment this year to compensate our employees globally,” the Redmond, Washington-based company was quoted as saying by news agency Bloomberg.
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“While we have factored in the impact of inflation and rising cost of living, these changes also recognize our appreciation to our world-class talent who support our mission, culture and customers, and partners," the company added.
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The changes in the budget will apply to a substantial part of Microsoft's workforce, which stood at 181,000 as of June 30, 2021 and according to company CEO Satya Nadella, the stock increase will apply to staffers at Level 67 on Microsoft's internal scale, or below. However, the salary budget increases will vary by country and “the most meaningful increases will be focused where the market demands”, the Bloomberg report added.
Meanwhile, earlier in March, the tech giant announced its plans to open its largest India data centre with an investment of more than Rs 15,000 crore. The data centre, according to Microsoft, will be set up in Hyderabad; the tech giant has acquired 3 land parcels in Mekaguda, Chadenvelly and Shadnagar. Microsoft already has data centres in Chennai, Pune and Mumbai that have been operational for more than the past five years.
Microsoft's Hyderabad data centre will offer the entire Microsoft portfolio across the cloud, data solutions, artificial intelligence (AI), productivity tools, and customer relationship management (CRM) with advanced data security -- for enterprises, start-ups, developers, education, and government institutions.
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