Microsoft, a well-known software company, will reward its employees with $1500 bonuses for their efforts to combat the pandemic. This gesture is part of an effort by IT companies to keep employees happy and incentivize them to work more efficiently during the pandemic.
According to a Microsoft representative, the announced bonuses would cost the company about $200 million and are intended to show appreciation for employees' achievements with customers and partners in 2020. The IT giant had over $125 billion in cash, short-term investments, and equivalents at the end of the first quarter.
Microsoft's corporate vice presidents workers of Microsoft's GitHub, LinkedIn, and Zenimax subsidiaries will not be eligible for the newly announced Bonuses, which are part of rewarding employees' pandemic efforts.
Microsoft has also just offered employees five additional paid vacation days in early 2021 to make working for the company more enjoyable. Employee-friendly care practices, according to studies, are more likely to help employees form an emotional bond with the company, resulting in them staying longer.
As corporations reopen facilities and workers explore transferring positions, this offer of providing staff a $1500 incentive is supposed to help mitigate the impact of a dreaded trend known as the Great Resignation. Microsoft's new endeavor to keep employees happy was first reported by The Verge, a media outlet.