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If you're searching for Google employees this week, they've hit the slopes in Lake Tahoe for an annual company romp in the snow.
Fresh powder, spa treatments and run of the Olympic-grade moguls of the Squaw Valley ski resort await Google's 2,000-plus employees from the Bay Area, who will pack as many as five hotels in the region. The Resort at Squaw Creek, with 404 rooms, commands $294 a night and is busy preparing for the onslaught of Googlers.
I guess they figured out how to pull it off. I think adwords rates are going to be going up a tad to pay those bills eh? ;)
So....with all they're employees, what's that costing US....$300,000+ per day?Not even close. The article mentions 2,000 employees. Airfare is not necessary (for the majority) as the trip from the Bay Area by bus is less than by plane. A lift ticket at Squaw is about $30-$40 for a group that size. The lodging rates quoted for the Resort at Squaw Creek are among the highest in the area so they would go down from there. I would hazard a guess they are spending around $300/day per employee including meals, entertainment, and prizes. This would be $60,000/day. Of course that would be in addition to any vacation pay they are receiving. But that's accounted for already.
So nice to know their soooo concerned with shareholder return.Perks like these that make you excited about who you work for go a loooong way toward shareholder return. They would have to give out twice the amounts listed above in bonuses to get the goodwill that comes from having a good time.
Another trip started at the Hotel de Paris in Monaco and included time at a chateau in the Loire Valley as well as a few days at either the Crillon or the George V (I forget which) in Paris.
So Google's R&R doesn't sound too outrageous by corporate standards. And if it helps to retain valued employees, it's well worth it.
2. The new hires will not make the money that they think they will. Make no mistake, stock options are a huge part of why people want to work there. Google is valued at $54 Billion right now. Let's just sit and think for a second. They have one product and one source of revenue that produces about $50-$100 million in profit a quarter. Which way is the stock eventually headed? For most employees to make money the stock has to go up from the day the started or the options were issued. Once they see that they missed the boat, it will be a sad day.
It's all a game of expectations. They hear the stories, they see the guy in the desk to theirs parking his Ferrari and jealousy and resentment sets in. It's human nature. Look what happened to Microsoft. Their stock hasn't moved in about 5 years. At least they had about 20 years of stock gains and many generations of employees profited, with Google it all happened in the first year.
When I worked at AOL (when they were much smaller and actually growing) they did a mini-version of this, renting out a theme park for an entire weekend. If you weren't scheduled to work you could bring your family, if you were working as soon as you were off you could drive down and meet up with everyone. Everyone enjoyed it but they are too big to do that now (and lack the flavor of success).
So let them enjoy themselves - we'll see the benefits of happy, relaxed employees through the rest of the winter.
I'm sure the shareholders will not begrudge them their "traditional group holiday". As long as everyone makes money ... everyone should be happy.
Googlebot hasn't gone on vacation ... just the staff! Must be nice to be part of a company which can still operate without the staff! :) Wish I could do that!