Microsoft has announced plans to shift stock awards into the base salaries for its most valuable workers, proving more cash up front, says Bloomberg. This comes amid news of increasingly competitive compensation practices in the technology sector, with Google, Twitter, and and Facebook camps looking to attract…and keep the best engineers and computer scientists.
Some speculate that Micrsosoft Corp. stock, less valuable than it was a decade ago, will be less alluring than that of newer companies. Hence, the push for cash. Steve Ballmer, CEO of Redmond, Washington-based Microsoft, said that he’s decided to make the switch to improve the way the company rewards its staff.
“Through our history, we have been the place people came when they wanted to make a difference in the world through software, hardware and services,” Ballmer wrote in a memo. “The changes we’re rolling out today will help ensure Microsoft continues to be the place that top talent comes to change the world.”
Still, other social media and tech companies are trying to recruit top talent with offers of unique work environments, free food and coffee, and fiercely competitive salaries, which are only expected to heat up in the coming year.