Under enormous pressure to attract and retain talent, Microsoft is increasing employee compensation globally to stay competitive with some of its major technology competitors, including Amazon and Meta.

Redmond, Washington plans to nearly double its global merit-based salary increase budget and increase its range of annual share-based remuneration by at least 25% for senior executives and below. according to a GeekWire report. The news was first reported by Business Insider.

“In particular, we are almost doubling the global merit budget,” Microsoft CEO Satya Nadela said in an email Monday morning. “Merit budgets will vary by country, based on local market data, and the most significant increases will be focused where the market requires and at levels from the beginning to the middle of the career. We are also increasing annual stock ranges by at least 25% for all levels 67 and below. ”

The reference to “levels 67 and below” applies to employees to senior directors, according to GeekWire.

For the technology market, the talent shortage is much worse than the overall level of national unemployment, which is around 3.6% in the United States; for the technology industry, that’s only 2%, according to CompTIA, a non-profit association for the IT industry and workforce. This has led employers in the United States to increase demand for workers – and to review salaries and qualifications (such as a four-year college diploma).

“This increased investment in our global compensation reflects our ongoing commitment to providing a highly competitive experience for our employees,” a Microsoft spokesman said in an email to Computerworld.

Copyright © 2022 IDG Communications, Inc.


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