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How Netflix Reinvented HR
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Transcript
In conclusion
- Netflix concentrates in recruitment
- Treats their employees like adults
- Gives them adequate power
- Is upfront with employees
- Trust the employees judgement
- Has been innovative in HR
"Good Talent Managers Think Like Businesspeople and Innovators First, and Like HR People Last"
- How can you relay what is best for the company
- Get everyone on the same page
- Less about parties and being happy
- Do the right thing
- Be innovative
- Do not mimic
"Managers Own the Job of Creating Great Teams"
"Tell the Truth About Performance"
Netflix Background
- No performance bonus
- Market matched pay
- Compensation percentage chosen by employee
- Stock vs Money
- No "Golden handcuffs" will not hold you hostage
- Website started April 1998
- Started with 30 employees
- IPO 5/23/2002
- Currently has 3,500 Employees
- Has eliminated formal performance reviews
- Instituted informal 360 degree performance review
- If the person or position becomes obsolete it is eliminated
- Severance package is "Great"
- Keeps law suits at bay
"Hire, Reward, and Tolerate Only Fully Formed Adults"
- Netflix spends almost no money on maintaining bad employees.
- Concentrates on Hiring employees who will put the company’s interests first
- Treats the employees like trusted adults
- Time off Relies on the honor system
- The company’s expense policy is five words long: “Act in Netflix’s best interests.”
- Recruitment and Trust is a large aspect in their HR process
How Netflix Reinvented HR
James Diaz
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