Google plans to gratify employees' entrepreneurial itch
Employee retention has been a big question for Google for a long period of time as the workers tend to walk away with the start-up ideas in their head.
The India-based Google CEO, Sundar Pichai, in a recent interview with the Forbes, has revealed his plans to set up a "Google incubator" to get a free space for the employees to work on their new ideas.
The technology giant is known for giving venture space to new ideas and this is yet another attempt to encourage and retain its workers.
"Area 120" is the name given to this effort which includes the features of one of the similar steps taken by Google earlier, which is called Google Ventures (GV).
Under the GV, employees were allowed to spend 20 percent of their work time to devote to their personal projects. The idea behind this move was to control the rate of employees leaving the organisation.
However, GV did not work out for the company in a way it was planned to as the employees couldn’t get time more than a day or a week to spare for their projects.
On the other hand, "Area 120" would be a far more flexible arena where employees would work on their personal ideas for as long as six months.
"Area 120" looks like a better version of Google Ventures and Pichai is all set to do the best for his employees, as he said in the interview that Google might also invest in few projects which have already hit the floor and were started by former Google employees.