Nike Is Giving A Raise To 10% Of Their Employees
It was time.
Tue Jul 24 2018 17:30:00 GMT+0000 (Coordinated Universal Time)
Nike, which employs around 74,000 people, announced that they would be giving a raise to roughly 10% of their workforce. They'll also be changing the way bonuses are issued.
The company culture at Nike has been looking funny in the light lately, as reports of inappropriate workplace behavior have been surfacing like dead fish in a pond. Add that to the complaints about the lack of diversity at the executive level and the gender pay gap and, well, yeah...you can see why it's time for a change up there in Oregon.
Nike didn't specify just how much the raises would be, they just mentioned it would be "competitive." (It's worth noting that I've never seen a company not call a salary competitive, but ya'know).
Also, instead of employee bonuses being determined by personal and team performance, the company plans to now base bonuses more so on company performance as a whole.
Raises don't necessarily fix company culture as a whole (not hiring shitty people helps a lot more with that), but it was definitely well overdue and a good step in the right direction.
Nike made $36.4 billion in revenue last year.