Inflation-adjusted pay hike? This is what Google is offering – Mint

The question was read aloud by Google CEO Sundar Pichai, reports CNBC crediting an obtained audio recording of the meeting.

“With the U.S. inflation rates being as high as 7%, some companies are doing blanket salary adjustment to cover just the inflation,” Pichai said. “Is there any plans for Google to do the same thing?”

Frank Wagner, Google’s vice president of compensation, said that Google is trying to pay competitively, but it won’t introduce companywide adjustments for inflation.

“Inflation does seem to be atop of mind for a lot of folks, and I think one of the reasons is that people are pretty eager to get their compensation awards,” Wagner said.

Google leadership would be releasing letters to managers this week so employees will learn their compensation awards for the next year, according to CNBC.

American workers are quitting their jobs by the millions every month taking advantage of new opportunities created by the pandemic recovery, and creating an unprecedented labor…

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