first_imgWho needs Santa Claus when you work for Google? According to reports, Google has decided to give all of it’s employees a $1,000.00 cash holiday bonus… along with a universal pay hike of at least 10%.The company wide raise is scheduled to start on January 1st, 2011. That’s the baseline, though: Google will also be giving each employee an additional raise which is equivalent to the employee’s target bonus for the year, as well as an additional raise if their individual performance is particularly notable.As for that $1,000.00, Google’s going even farther than just handing everyone a check for a grand: the search giant also intends to pay the taxes on that bonus, so that employees walk home with the whole thing.Why the raise? According to CEO Eric Schmidt, internal feedback suggests that employees are happiest at Google because of the generous salaries and not because of bonuses or stock compensation. They want to keep employees happy, and therefore, keep them from bolting to the competition.$1,000.00 may not seem like a huge Christmas bonus, but add in the raise and Google’s just handed $1 billion to their employees, basically as a gift.Hey Google? Looking for a blogger?Read more at Gawkerlast_img read more