Search outfit Yahoo claims to have fixed one of its biggest problems – all the talented staff wanted to work for other companies.
When CEO Marissa Mayer took charge she moved swiftly to fix a lack of talent in the company by buying companies and drafting their employees to work for Yahoo. The biggest buy out was the $1.1 billion purchase of blogging service, Tumblr.
Now Yahoo thinks the problem is solved and its talent crisis is over. Chief financial offer, Ken Goldman, who spoke at a Morgan Stanley investor conference in San Francisco that in the old days, companies did not want to be bought by Yahoo, because they did not want to work there. That’s not the case any more.”
Goldman’s statement is backed up by the company’s annual report, which claims that it received more than 340,000 job applications in 2013 which was double the number in 2012. Yahoo is the third-highest-paying company in Silicon Valley for engineers last year, behind Juniper Networks and LinkedIn.
But Yahoo is not considered a great place to work. It did not make the recruitment site Glassdoor’s list of the 50 best places to work.
Mayer hacked off staff by refusing to let people work from home and for scheduling weekly meetings on Friday afternoons. However, Goldman said that she had changed the attitude and morale at Yahoo.