Insider predicts mass exodus of people from Microsoft. Reason: In May, the company promised a massive pay raise that was supposed to keep employees from moving on to competitors (like Amazon).
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On Monday, the company began notifying staff of the size of the increase, and according to insider information from multiple sources, the increase will be between 5% and 10%. Therefore, journalists suggest that September 15 - the day employees receive their new salary and bonuses - could be the beginning of an exodus from Microsoft. According to one whistleblower, there is an unspoken rule at Microsoft that if you want to get what you're worth, you have to leave the company and then come back.
The annual employee appraisal cycle begins at Microsoft in April, notifications about how the appraisal has affected income levels are sent out from August 15, and payments are made on September 15. By promising a significant increase in salaries in May, Microsoft worked to retain valuable staff. Since then, Microsoft has noticeably suspended hiring and started layoffs. And now the discrepancy between real payments and expectations can deprive the company of some key employees.
It's not encouraging that the company has promised all senior employees a minimum of 20% increase in annual stock compensation. “Gold handcuffs don’t suit me,” one source told Insider. This is one of those situations where I love Microsoft but have to leave. I got a raise of over 10%, but I get calls from recruiters offering 50% more.”
According to Microsoft's annual internal survey, only 66% of employees are satisfied with their level of income. Last year it was 73%.