Facebook HQ

Silicon Valley tech giants are building and expanding massive campuses and adding one extravagant perk after another in order to appeal to the world’s best available talent.

“Cash is king” no longer applies to some of the world’s largest companies. They’re investing in a new generation of talented young business minds and engineers who they believe will bring the innovation needed to survive and thrive in a competitive industry.

A new proposed headquarters for Apple features a “spaceship” design, a term used by Steve Jobs himself during early planning in 2011. A world-class auditorium and an orchard for engineers to wander are just a couple of the additions expected to be included.

Google’s new campus will have walkways designed to force employees into random encounters with one another.

Gone are the days of individual cubicles, where engineers hunched over keyboards in solitary. Companies are betting on open and comfortable work environments, coupled with extra amenities to promote the creativity which lead to innovation.

Yahoo’s new CEO, former Google executive Marissa Mayer, recently banned employees from telecommuting. The decision sent shock waves through the tech industry, but Mayer believes that in order for Yahoo to thrive, the company needs to physically work together.

Facebook has quickly become Silicon Valley’s most popular workplace. Surveys from career site Glassdoor.com named it the best company to work for and Mark Zuckerberg as the world’s top-rated CEO.

“I believe if people feel they can control their environment, that leads to a greater sense of ownership over the product,” Ben Barry, founder of Facebook’s Analog Research Laboratory, told the Associated Press.

How important are job perks? A recent CareerBuilder survey found 58 percent of workers believe more perks will help retain workers.

Image: Jakob Steinschaden