Zinger Key Points
- Salesforce has reportedly offered $10 for each day an employee is turning up at office on June 12-23.
- The initiative comes amid some stern austerity measures announced by the company that did not go down well with its employees.
- Discover Fast-Growing Stocks Every Month
Bringing employees back to the office after the COVID-19 pandemic has proved to be a challenge for companies. The high-and-mighty of the corporate world, including tech giant Apple, Inc. AAPL, has had run-ins with its workforce as they strive to implement a strict return-to-work policy.
One company from the tech world has opted to swear by the carrot part of the carrot-and-stick motivational approach in accomplishing this.
What Happened: Customer relationship software company Salesforce, Inc. CRM internally floated a limited-period initiative called "Connect for Good," through which it has agreed to pay $10 to a local charity for each day an employee turns up at the office, a senior company executive announced on the all-salesforce Slack channel, Fortune reported.
This program will run from June 12 through June 23.
The initiative is in line with Salesforce's culture of treating employees not merely as colleagues but as family, the report said. The announcement reportedly came as a reassurance to employees, who were worried about the company culture, often called "Ohana culture," eroding.
The fears compounded after Salesforce announced mass layoffs, in line with the general trend in the sector amid the economic uncertainties, withdrew the gratitude bonus, and also made it mandatory for certain groups of employees to return to the office, Fortune said.
Salesforce, led by Marc Benioff, expects to raise $1 million to $2.5 million through the program, the report said. Staff is given the option to vote for their favorite charities, it added.
See Also: How To Buy Salesforce (CRM) Stock
Why It's Important: Ever since the reopening, some corporate chiefs began sounding out their desire to have employees back at the office at least for a few days a week. Some of them, including Benioff, have flagged reduced productivity with work-from-home working.
While announcing layoffs at Meta Platforms, Inc. META in mid-March, CEO Mark Zuckerberg reportedly said in a memo that performance analysis showed engineers with some in-person working time (even if they later transitioned to remote work) “performed better on average than people who joined remotely.”
In a recent CNBC interview, Tesla, Inc. TSLA CEO Elon Musk called working from home as morally wrong.
The proponents of work-from-home, however, suggest employees work long hours when they work from home and this increases their productivity.
Salesforce ended Tuesday’s session at $212.85, up 1.42%, according to Benzinga Pro data.
Read Next: Salesforce Gets Price Target Hikes By Analysts After Q1 Results
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.