In an internal memo, the firm told employees that the one-time bonus “is in recognition of the unique and challenging fiscal year”.
To thank its employees for their hard work during what has been a challenging year, Microsoft is giving its employees a £1,000 pandemic bonus ($1,500).
In an internal memo, the organisation stated that this one-time bonus “is in recognition of the unique and challenging fiscal year that Microsoft just completed”.
Kathleen Hogan, the firm’s chief people officer (CPO), announced that it will apply to all eligible employees internationally, as well as those in the US, reported The Verge.
Microsoft shared that the bonus will be given to all staff below corporate vice president level that started on or before 31 March 2021, including part-time workers and those on hourly rates.
Despite owning separate companies including LinkedIn, GitHub and ZeniMax, employees within these firms will not be eligible for the bonus.
Due to this, The Verge understands that the bonus will equate to around £145m ($200m), which is less than two days’ worth of profit for the business.
The decision could go a long way in retaining staff, as well as attracting new talent, after a recent whitepaper revealed that three in five (58%) employers expect to see an increase in resignations over the next 12 months.
Dubbed the ‘Great Resignation’ by Cendex, the research also found that 32% of HR professionals stated that we will see an increase in resignations in the next six months.
Employers rewarding staff
Earlier this year BT announced it would give around 60,000 frontline workers a bonus of £1,500 in recognition of their hard work throughout the coronavirus crisis.
It added that in June, 59,000 staff members would be given a £1,000 cash bonus later in the year.
Plus, last year, social media giant Facebook told its 45,000 employees that they would receive around £700 ($1,000) each for their hard work.