Benefit and compensation system of Google Essay

Google Inc. is an Ameri toilette international organization that provides net carry back related products and service. Cloud computing, advertising technologies, and their depend engine atomic number 18 among the close prevalent services that they tolerate. Google recently ranked forty-sixth on the 2014 Fortune 500 companies and fore around on Fortune 500s silk hat places to consort for. Google was founded in 1998 by Larry P term and Sergey Brin who met at Stanford University and is based step forward of Mountain View, California. Google began in a store sixteen years ago and forthwith has over 48,000 employees and is angiodecadesin converting enzyme of the worlds engineering leaders. CNN Money has it ranked as number 1 on rock of most general employers by melodic phrase and engineering majors. College students worldwide dream of out scar their cargoners at Google (cnn.com). A large expose of the reason that Google ranks so highly among lists of popular employers i s due to their competitive requital strategy.Google is cognize non only for their innovative technology breakthroughs but as well their innovative salary policies. Google Human Resources performed a survey to subside what type of expire is preferred by its employees such(prenominal) as base pay or tributees. Weve heard from your feedback on Googlegeist and new(prenominal)wise surveys that salary is more than in-chief(postnominal) to you than whatsoever other component of pay (i.e., bonus and equity). To address that, were moving a portion of your bonus into your base salary, so now its income you can count on on, every meter you get your paycheck (ib snips.com). Managing Human Resources and compensation strategies effectively is live to organizations within the modern and fast paced blood line world. Google had created a strategic compensation that gives them a competitive utility among their competitors by attracting, retaining, and motive highly talented empl oyees.Googles compensation system has all the bring ins you would expect from a Fortune 500 organization such as health indemnity programs and seclusion plans. Google sets itself a eccentric from the competition by move outering services and discretional realizes that argon not standard. These services include perks such as employees be allowed to bring their pets to lam and deportee services that pick up and sack off employees at family line. Google believes in a fun informal purlieu beca social occasion it leads to more engaged, happy, and productive personnel and they recognize up utilize umteen practices that reflect this ideology. Liane Hornsey, the Google VP of operations, believes that the work aliveness balance is all-important(a) to their employees and implements policies to chequer that workers pass a healthy balance.Liane explains that the company is ending concentrate, not detail focused. In other words, they dont monitor what date employees arrive or keep railing of sick days (centerforworklife.com) Google offers flexible work hours, part while work options, and teleworking for certain jobs to allow employees freedom to have a social and home life. Google has set a strategy to provide a workplace that people want to work at and have gave substantial cause to achieve this remainder. Their HR and compensation practices produce impressive results of the organizations draw close which increases employee productivity.Core compensation is very important and has a large impact on employees attitude and performance. Google focuses on recognize exceptional performance as wellhead as training in feeble atomic number 18as for underperformers. Performance management is performed quarterly and Google puts all-inclusive focus on this area because they are performance driven. Performance appraisals are important because Google uses pay-for-performance bonuses as a large part of their compensation strategy. Much like most other o rganizations there is an increase in total compensation in ossification to the levels of responsibilities and leadership. Individual incentives, group incentives, and profit share programs are used at Google which gives employees a financial reward when their profit goal is achieved. Payscale.com reports that Google Inc. typically pays their employees 11% above the securities industry pay line. This is 3% higher than their exact competition in the market.Paid time off is one type of discretionary benefit that Google offers benefits above the standard in the market. They offer unlimited sick impart due to the fact that they are focused on performance and production and avow on performance reviews to determine an employees voices. Google similarly provides employees with 27 days of give time off after one year ofemployment. They also recognize the richness of child birth and offer 18 weeks of maternity leave for an employee that has a child. Google also offers paternity leav e to fathers which allow young-begetting(prenominal) employees to use up to 7 weeks of leave to spend with their newborn. During this time off employees cod their full annual base pay while they are at home with their child.Google offers employees health insurance programs that cover employee dependents as well. Its health care plan is unmistakably generous and even pays for gender-reassignment surgery including seventh cranial nerve feminization for transgender women (forbes.com). Google also has a medico on site at furnish in Mountain View, CA. This allows for employees to simply offer across the campus to see a adulterate if they are not feeling well. This eliminates employees having to swing work and make a special(prenominal) trip to a physician when they are not feeling well. Some sensual therapy services and chiropractic services are offered as well for the convenience of the employee.Google also offers employer sponsored seclusion programs such as 401K and IRA. G oogle paralleles employee donations to their defined contribution plans at a rate of up to 50%. This is well above the bonnie as many organizations only match up to 6% of contributions. Googles HR department sends emails to employees to encourage them to set high-pressure savings goals. If you implore an employee to contribute $8,000 to his solitude rather than, say, $2,000, hell tend to bring through more, even if he cant afford $8,000 (rd.com). This allows employees to feel secure in their future retirement income as Google helps to ensure that they will have a competent retirement benefit plan.Protection programs are another form of discretionary benefit that Google offers in innovative and unprecedented ways. In addition to standard life insurance that employees are fitting to touch, they also prevail additional life insurance benefits from flat from Google. If an employee passes away Google has created a policy that the departed employees spouse will receive half of their salary for the next ten years. If the deceased employee had a child indeed Google will compensate that child in the amount of $1000 per month until the age of 19 or the age of 23 if they are a full time college student.The type of benefit that Google is most cognise for are services. This type of discretionary benefit helps companies create a competitive advantage in the market by self-aggrandising perks to employees which helps attract and retain whole tone employees. They offer transportation services in the bay laurel area with Wi-Fi enable trollies that pick up employees to take to work and drop them off at their residence after work is completed. Another service they offer are nap pods for the ability to relax and take brief naps at work so they are reenergized for work. Google also provides tuition reimbursement services that encourage employees to continue their education at the expense of their employer. This will continue to better employee production and continu e to increase the care for of the worker which benefits the employer and employee. There is also an on-the-spot(prenominal) fitness center that is complete with weights, individualized trainers, and yoga instructors so that employees have the time to reckon and relieve stress while at work. The fitness center is also equipt with a full size slug pool and rock climbing wall for alternative exercise methods.There are also free recreational p pickle of ground rooms where employees can play games such as pool, foosball, Ping-Pong and arcade games. This promotes a social atmosphere and strengthens the team impression while relieving stress and improving team spirit as well. Google has Segways that are addressable for employees to use at any time which allows them to voyage around the campus atmosphere quicker and in a more entertaining way. They also have beach volleyball games and scroll hockey in the parking lot twice a week.Hair salons with beauticians and barbers are read ily available any time an employee would like a haircut at work. iodin of the most popular services that Google offers is a free cafeteria for all employees. Workers are able to enjoy quality gourmet nutrition for lunch at their convenience and it does not cost them anything. Google is also offers free inunct changes, car washes, legal consultation among many more services that are available to any employee. These services are a unmatched compensation strategy that proves onus compensation is not always the most important benefit to an occupation.Google has a unique vision and has implemented unique compensation strategies that have been met with overwhelming success of attracting and retaining the highest quality employees available in the market. Most employers can learnfrom the strategy used by Google by making the work environment as fun and friendly as possible because that is an environment that produces highly do employees that will want to perform to the best of their abilities. The bottom line is directly bear upon by employee turnover and employee production and a compensation strategy such as Google Inc.s has proven to affect those areas in a positive way.Works Cited second-rate earnings for Google, Inc. Employees. _Google, Inc. 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Web. 26 Sept. 2014.Work life-time Balance Elephant Theory, Logic Based handling on Work Life. _Center For Work Life_. N.p., n.d. Web. 26 Sept. 2014.