Eclectic, talent comes first.
Shenzhen Translation Bureau is its compilation team, focusing on the fields of technology, business, workplace, life, etc., focusing on introducing new technologies, new ideas, and new trends abroad. This book is divided into two parts, this is the first one.
Key points:
1. Netflix core values: judgment, communication, influence, curiosity, innovation, courage, enthusiasm, honesty, and selflessness.
2. The company will decide employees to stay based on a “retainer test”.
3. Talents with more creativity and efficiency in the team are suitable for joining the “Dream Team”.
4. Netflix does not want employees to leave because of money, so the pay is the highest in the market.
5. The team will give employees rights and responsibilities, and employees will pick up garbage when they see it.
6. Netflix gives employees full freedom, and they do n’t have to look at their faces for reimbursement, vacation, or dressing.
Editor’s note: The streaming giant Netflix is one of the hottest companies in the world today. Although competitors including Amazon, Disney and HBO are watching, they still maintain the growth in the number of users and revenue. The success of Netflix is inseparable from the so-called “corporate culture”. After reading this article, you will understand the secret of Netflix building a high-quality corporate culture. Article translated from Medium, author Beril Kocadereli, original title Culture at Netflix. This book is divided into two parts, this is the first one.
Extended reading: Streaming media giant Netflix ’s corporate culture ( Next)
Image source: Unsplash
Entertainment is a basic need we have. It can help us temporarily get rid of all the unpleasant things we are experiencing in life, make our faces smile, make our hearts tense, and even make us cry. Our hormones are rushing through the body and feel like we are alive. We like entertainment, and no one has done better than Netflix in this respect.
Netflix is the world ’s leading streaming entertainment service company with more than 167 million paying members in more than 190 countries. People can watch various documentaries, movies and TV shows on this platform. As of January 28, 2018, Netflix ranked 30th on the list of the world’s most popular websites.
The company founded by Reed Hastings Marc Randolph did not initially plan to be a streaming service company. It was originally a DVD rental service company on the verge of bankruptcy. In 1997, it barely survived the competition with rival Blockbuster. Imagine if they still stay in the DVD business … just like most other successful companies, they will also find ways to adapt to the changing environment. Because adaptation, change, and evolution are necessary for survival.
Company CEO Mark Randolph described the early days of the company in his book “After One Thousand and One Ideas: The Secret of NETFLIX” (That Will Never Work: The Birth of Netflix and the Amazing Life of an Idea) The story of the stage. Randolph believes that his company’s success lies in its work culture, which distinguishes it from many other startups. Although these companies provide attractive benefits, they ignore the core values of giving employees freedom and responsibility. However, their team managed to fill this gap.
Randolph said to Marcus Baram of Fast Company:
Culture is not what you say, but what you do. Much of Netflix’s culture stems from the way I and President Reed Hastings treat each other, and the way we treat early employees. So, even if Netflix is now much larger than before, you can still see the shadow of the way we got along at the time. You will find that we have focused on deep personalization and helping people get the right entertainment at the right time. “
As a symbol of the company ’s culture, Netflix founder and president Reed Hastings released the “Cultu” (Cultu) on the Internet in 2009re Deck). Facebook Chief Operating Officer Sheryl Sandberg (Sheryl Sandberg) said in an interview with “GQ” in 2003, “This is probably the most important document in the history of Silicon Valley.” Let us talk about it, and then you judge for yourself Is it true?
What is “Cultural Collection”?
This is a document that reflects the special features of Netflix.
The company explained its core values, as well as the skills and behaviors recognized in the company ’s culture. The document shows the company’s position and which side it wants employees to stand on. It is an agreement between employees and the company, which may be more important than the contract itself. “Cultural Collection” talks about the company’s expectations, remuneration, allowances and benefits, and the unique value of Netflix.
1. Core values
It starts with core values, rather than adopting ambiguous value propositions or simply ignoring it, as many companies do. The document also explains 9 core values and their corresponding potential specific behaviors and skills. This helps employees absorb values more easily and correctly.
The nine core values are: judgment, communication, impact, curiosity, innovation, courage, passion, and honesty ), Selflessness (Selflessness).
Since the meaning is easy to guess, I will not elaborate. In general, open communication, proactive attitude, strong curiosity and passion, telling the truth under any circumstances, modesty, helpfulness, respect for others, openness and transparency are all recognized by the company.
At this step, they are the same as most other companies that have values to speak for. They also know that it is easy to write down these values, but it is difficult to achieve.
2. Retainer test
This part is interesting. Netflix does not believe in the so-called “vitality curve” or ranking, such as the last employee who cuts 10% each year, and they use the “retainer test” instead. (Note: Jack Welch, the former CEO of General Electric, proposed the “vitality curve”, that is, the “last elimination system.” Employees are divided into 20% excellent employees, 70% medium employees and Ten last employees.)
In the retainer test, the management department will ask the following questions:
“If one of the team wants to switch to another company, we will work hardPrevent him from leaving? “
Based on this problem, the company decides to keep employees. If the answer is no, they will come up with a generous severance payment, without even waiting for further questions, and you will find yourself unemployed. This may seem cruel, and some employees do not like this approach. Okay, I think this is vicious and ruthless. Netflix also admits that this is not for everyone, especially those who value job security and stability over work achievements.
However, the retainer test has advantages for employees who have a good track record on Netflix, perform well, but are experiencing downturns. It will help them get an assessment of overall performance, not just based on recent performance.
3. Dream Team
What makes Netflix unique is that it does n’t trust the “smart bastards” who can ruin the company ’s culture and hurt other employees but can rise from it. The company regards teamwork as more important than anything, and the reason is simple. Hiring a “smart bastard” is too expensive for the team. In addition, whether they are smart or not, this kind of person is an asshole.
They want everyone to work together, help each other, and encourage each other, so that when they form a team, they are more creative and efficient than fighting alone, and ultimately they will be more successful, rather than poke when other employees are asleep A knife.
There is no doubt that Netflix also wants the best job performance. Only those who can consistently reach high standards can be part of their dream team, which shows that the kind of employees who put a lot of effort into the average performance are not suitable for this company. They do n’t look at the time you put in. They look at the results. They want employees to at least glow like the sun. Some employees feel that high expectations can make them feel too stressed and it is difficult to persevere and finally leave. The company has no objection to this, they said:
“Not everyone is suitable to be part of our dream team, no big deal.”
I do n’t know how you feel about it, but I do n’t like this method. Continued threats from “cannot perform to the best” can make life difficult. Life itself is hard enough. Some people like the difficulties and stress caused by work, but not me. The effort paid should also be counted and should not be ignored. Maybe I am not Netflix at all.
Translator: Yoyo_J