Last year, a rise in the rate of workers leaving Cisco Systems caught the attention of the top human resources executive at the networking gear giant. To address this concern, the company is asking workers how frequently they want to be paid and their preferences regarding bonuses.
Those moves are designed to retain more of the company’s 79,000-person global workforce amid a red-hot market for tech talent as a drop in the stock market makes cash more appealing than stock-based pay. Cisco Chief People Officer Francine Katsoudas anticipates workers will want to see a greater portion of their total pay in the form of base salary.
“In this type of environment, cash in hand, not worrying about whether or not the bonus is going to happen based on performance, is meaningful,” she told The Information.