The average salary for an employee of Facebook is about $120,000. With all forms of compensation considered, the average total compensation amount is some $155,000.
Right now, Facebook’s fleet of workers – all 35,500 of them – are awarded bonuses based on four key metrics, each of which is weighted equally. Employees were most recently given bonuses based on levels of user engagement across the entire platform of Facebook, growth in the company’s revenues, and how well individual employees’ contributions actually resulted in user growth. More platforms used to calculate bonuses include boosting the quality of the digital product and experience that Facebook provides to users, generating goodwill to beef up the value of the brand of Facebook, and making solid moves towards its long-term investments.
Currently, only the basis of company performance has been swapped out with the company’s new focus of generating social good. The other metrics used to determine the bonuses that employees deserve are all going to stick around.
Mark Zuckerberg, the Chief Executive Officer and sole founder of Facebook, shared this information in an announcement at Menlo Park two days ago, on Tuesday, February 5. Many experts believe that one of the main reasons why Facebook is making such a change is because the company has been plagued by scandals over the past year or so and needs to regain its squeaky-clean image.
Mike Schroepfer, the social media giant’s Chief Technology Officer, shared with Fortune that measuring employees’ contributions toward the creation of social good will be difficult. As of now, the company doesn’t have any reliable metrics to judge the creation of social good on.
Zuckerberg further shared in the announcement on Tuesday that the company’s employees would be rewarded for helping small businesses perform better on the platform as compared to their better-off, larger counterparts, creating digital products that have the potential of improving the quality of people’s lives, making developments that can help employees on the individual level and Facebook as a whole be more transparent than it has ever been, combating fake news stories directly at their source – fake news outlets – and making sure future elections around the planet will not be interfered with on the same scale that was seen in the 2016 United States presidential election.
Another recent goal of Mark Zuckerberg’s is to increase the total amount of “meaningful interaction” across the world’s most popular social media site.
Source: http://fortune.com/2019/02/05/facebook-bonus-social-issues/
Dil Bole Oberoi
