Beyond Top Talents, Apple gives stock grants to all employees

Apple has been giving free shares to top ranking employees to retain the best talents in the company, but CEO Tim Cook announced Wednesday that the tech giant will also be giving these stock grants to all its employees.

CNN Money reported that Apple's rank and file workers used to buy the company's share through the stock purchase plan and get a discount. This is something very common among giant companies like Facebook, General Motors, and Google, which only gives free shares to its top ranking employees. Now, Apple extends its stock grants down the corporate ladder, to its retail and AppleCare workers. These awards are called Restricted Stock Units, and will now be given to low ranking employees ranging from $1,000 to $2,000 worth of shares.

Wired Business explains RSUs as something usual among Silicon Valley startups that are competing for top talents in engineering, design, and business talent. But Apple's move of giving away RSUs to the rest of its employees is an important precedent especially that the company's workers include retail and service employees all over the world. This is an amazing step that could ensure the financial stability of all its workers.

9to5Mac got a memo from Cook that states, "At Apple, our most important resource - our soul - is our people. Along with our many progressive benefit plans, this is another way for us to say thanks. On behalf of the Executive Team, I'd like to thank you for your many contributions to Apple. Working with all of you is the privilege of a lifetime."

Apple has pushed the business and technology world to newer heights with all its innovative strategies. Now, it brings the industry even further up with its move of giving shares to the rest of its employees. This could encourage other tech companies, or even big companies that are not into tech, to do the same thing and give RSUs to its rank and file workers.