When it comes to pay and perks, tech companies have a reputation for being generous to their employees. But now, some firms are finding that what they offer isn’t enough to attract or keep the talent they need to continue innovating. Our tech expert Omar Gallaga says the problem translates to worker shortages and a need to improve compensation and benefits to recruit and keep workers.
Highlights from this segment:
– An employee survey at Microsoft has led the company to announce significant increases (paywall) in its budget to pay for salary increases.
– An Apple executive left the company because he objected to its requirement that employees begin working in the office more, after two years with more flexible work arrangements.
– In addition to increased compensation, tech companies have added perks, created apprenticeship programs to attract new workers and adjusted return-to-office plans to accommodate employee preferences and needs.