Employee Turnover And Retention Briefings Abstract: 43
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Google Retention Challenge [Yahoo News] Tuesday 10/05/04 3:34 PM
Now that google has gone public, they have a lot of very wealthy employees. Estimates are that 60% of google employees have stock options worth $1 million or more and 400 to 500 have options worth $5 million or more.
Will these employees continue to work for google? Will they retire or will they go off and start their own company? A lot of new companies are founded by wealthy ex-employees and that spin-off effect benefits us all, but the challenge for google is to keep enough of their staff engaged and motivated with their current position.
Google has more perks than most companies, but employees that are wealthy enough to do whatever they want to do will need to know that working at google is exactly what they want to do. One of the more unconventional perks aimed at keeping employees interested in their work is google's policy of allowing their staff to work 10% or more of their time on non-google or fun things. This is where some of their new products like gmail and orkut came from. Employees exploring new ideas at their own initiative.
If google is as successful at retaining their employees as they are in the marketplace, watch to see company policies change to emulate the google retention philosophy.
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