Netflix issues12/29/2023 ![]() Share information openly, broadly, and deliberatelyĪre extraordinarily candid with each other What is special about Netflix, though, is how much we:Įncourage independent decision-making by employees He will circle back around in a couple of days to get a sense of your level of interest.ĭigging into the links, you find that Netflix could not be more explicit about the culture of the company: If you join Netflix, you will also be working for an Oscar-winning company at the cutting edge of technology and entertainment, which sounds pretty cool.Īfter a brief explanation about the Netflix culture, which also sounds different, the recruiter suggests that you have a more in-depth look at the job description, the careers website and the employee Youtube videos and the original Netflix culture deck, if you would like to see where the culture has developed from. The recruiter goes on to explain that the company is doing well, as a matter of fact, growth has been spectacular, with subscriber numbers almost quadrupling since 2013, the stock price doubled in the past 12 months and the company generates more revenue per employee than Apple does. The recruiter explains that Netflix doesn’t want money to be a reason for you to become dissatisfied at the company. Money is not an issue at Netflix because, as the recruiter explains, the company pays top of the market salaries and they even encourage their employees to regularly interview with the other companies to ensure that they know what their market rate is. ![]() Money is not a defining factor for you, that being said, you aren’t going to work for peanuts either. “It was very much on our minds: How do I know if I’m about to be fired?” The two questions begging to be asked: why did Parker join Netflix in the first place and why, if he was anxious and frightened, did he stay for as long as he did? According to the Wall Street Journal, Parker was “filled with anxiety” when he started at Netflix, frightened by the performance culture and the idea that his job wouldn’t be safe if he didn’t perform. One of those disgruntled employees was Andrew Parker who joined the company in 2016 and left the company voluntarily in August. It wouldn’t be an overly challenging task to find disgruntled employees in any company that’s 21 years old and employs over 6000 staff. But communicating so openly has made Netflix an easier target to hit. These publicly available documents are extremely effective in differentiating the company from the competition communicating exactly how the company operates, what the company values, the behaviors that are expected from its employees and what they in turn can expect from the company. Hastings understands that company culture is the only sustainable competitive advantage he has complete control over and he is smart enough to have defined and invested in building the Netflix culture into a major asset for the business. The Netflix culture is detailed on the company careers page and the famous Netflix culture deck, which was published in 2009, is still available online. The thing is it’s relatively easy to slice open the Netflix company culture because it is well documented and has been openly shared since 2009. The Wall Street Journal could have written about disgruntled employees at any of the Fortune 1000 companies, so why choose Netflix? Why write about a successful company that has maintained a voluntary attrition rate of 3-4% over the last two years and an involuntary departure rate of 8%, which is not far off the U.S. Two examples of these practices are “sunshining,” which encourages employees to share a mistake they have made with colleagues thereby promoting transparency, and the “keeper test” where, as part of the review process, managers must ask themselves whether they would fight to retain an employee or not. In a recent article Shalini Ramachandran and Joe Flint of The Wall Street Journal interviewed 70 current and former Netflix employees, picking apart the culture describing the environment as “ruthless, demoralizing and transparent to the point of dysfunctional.” The two reporters highlighted radical transparency, accountability and honesty as key issues that Netflix employees struggle with as well as a number of practices that are unique to the company. Ray Dalio, founder, Co-Chief Investment Officer and Co-Chairman of Bridgewater Associates, the world’s largest and arguably most successful hedge fund, has taken to publishing management team changes on LinkedIn because, “our communications often find their way into the media in distorted ways” referring to an article by the New York Times. Reed Hastings and his company Netflix are not the first culture-driven organization to catch flak for their strong culture. Netflix Los Gatos office reception NETFLIX
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