Vega Chronicles Issue 17
Netflix – The Streaming Giant with a Great Workplace Culture?
Netflix is not just an amazing streaming platform but also a great example of an amazing work culture that promotes mutual trust, communication and feedback. It was built on the foundation of core principles of freedom and responsibility. But what makes their work culture unique and distinct from the rest? Read on to find out!?
To optimize their hiring efforts, Netflix always looked for people who they think can make responsible decisions on their behalf with respect to the company. This is why Netflix does not have a firm vacation policy or set number of leaves for employees. This policy is based on the idea that responsible employees will make the right decisions about time off and prioritize their work accordingly. They rely on mutual trust and communication between the employers and employees to make this work.?
The company's work culture is built on the principle of "Context, not Control." Rather than enforcing strict rules and processes, Netflix provides employees with the context and information they need to make informed decisions. This approach empowers employees to act in the best interest of the company.?
Netflix had also modified their approach to performance reviews by transitioning to more of an informal setting with a 360-degree feedback system – they ask their employees to treat it more like a candid conversation but at the same time ensure that they communicate their message. During such reviews, they conduct something called the ‘Keeper Test", where managers are asked whether they would fight to keep each of their employees. Here’s an interesting story about how the ‘Keeper Test’ came into existence. After Netflix had laid off one-third of their 120-person staff, they expected the morale of the workplace to be affected because of this. But instead, Instead, the “entire office felt like it was filled with people who were madly in love with their work”.?
An interesting tactic to keep an eye on the market value of their employees, Netflix encouraged their employees to relay any offer they receive to their superiors. This unique strategy helped Netflix offer very competitive pay and maintain high talent density in their workforce, which is a very important policy for them.?
Netflix has created a culture that has served as a benchmark for innovation and productivity. To know more about how this culture came about, and how different experiences helped them craft unique policies which benefitted them, do read the book ‘No Rules Rules’, written by Reed Hastings, the co-founder of Netflix!?
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All in all, it must be noted that every organization requires a different approach to enhancing work culture. So, it is amazing to see the consistent efforts employed by Netflix to understand its workforce better and look for ideas and approaches that can reinvent the work culture for maximum impact.?
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What factor intrigued you the most? Let us know in the comments below!
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Picture this – You are rewarded for your amazing performance and are bestowed the title of ‘The MVP’ and now everyone at work starts calling you that. Isn’t that a cool incentive? Along with receiving appreciation for your exemplary work, you are given a nickname that personifies your talent!?
We can speak about length about how rewards and recognition can positively benefit a company’s work culture. It is important to highlight and work on different initiatives to cultivate this kind of ideal culture, and awarding employees with unique titles offers a fresh and unique approach to it! Assigning unique titles provides an opportunity to experiment with a wide array of different categories, like performance, leadership or even customer service. It also helps eliminate monotony, which can happen if the awards are repetitive.?
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Here are a few of our favourite award titles for you to use - ?
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The Ace Employee?
The Problem Solver?
The Conqueror?
The Professional Prodigy?
The Team Spirit Trailblazer?
The Reliability Rockstar?
The Budding Star?
Diamond in The Rough?
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This is just a small glimpse of our curated list of amazing workplace titles. We have curated and categorized a total of 66 award titles and have listed them in our blog. Check it out for more amazing nickname ideas!?
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