The Microsoft Corp plans to introduce extensive raises in salaries and stock awards to attract and retain crest talent, Steve Ballmer The CEO of Microsoft said in an internal memo attained by Reuters . Microsoft, which like other Silicon Valley businesses Google and Yahoo may be losing top employees to hot upstarts like Facebook.
The memo of Microsoft states that throughout the yester years Microsoft has made a difference in the world through software, hardware and exceptional services . According to the memo CEO acknowledges the depth of truth of history and the changes they are rolling out today will help ensure Microsoft continue to be the place that top talent comes to change the world.
This action was taken after Google’s 10 percent raises this year. Microsoft plans, among other things, to make significant reward increases for divisions with fast-moving markets, including research and development and certain geographies.
All human resources will have a portion of their stock awards shifted into base salary, according to the memo. Microsoft’s shares have stayed roughly flat from mid-2009 levels.
Microsoft will tie bonuses and stock awards closer to performance, with the review process also undergoing changes and these changes will occur around September .