thumb tacks, thumb tech

Musings and rantings about...EVERYTHING.

Monday, October 01, 2007

Retaining talent in organizations

Immeasurement, irrelevance and anonymity makes you miserable at work and in some case, makes you want to quit and leave. One company - Netflix follows a set of "rules" when it comes to retaining talent. I will just briefly mention two (below), related to monetary. Of course, instilling a good culture such as fostering talent hunters to create a fun workplace, allowing employees to have choices, and limiting rules, are some ways to make people happy in the organization.

1. Pay higher-than-average salaries: Base bonuses and increments to the market, not a team of star performers. This can suppress "stars" and individualism. Southwest Airlines is another company that cultures teamwork rather than individualism too. I will talk more about Southwest Airlines in future. However, I like the "concept" - Money is no object in hiring. :)

2. "Let them go": Don't give B performers a middling raise. Rather, allow them to leave with dignity.

You can read more here.

In some way, I think Netflix is trying to create a Southwest-similar culture in their organization.

0 Comments:

Post a Comment

<< Home