Reinvented HR Based on the article by Patty McCord Harvard Business Review JanuaryFebruary 2014 2 3 Stellar talent has led to stellar success Id rather work by myself than with ID: 530443
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Slide1
1Slide2
How Netflix
Reinvented HRBased on the article by Patty McCord, Harvard Business Review, January–February 2014
2Slide3
3
Stellar talent has led
to
stellar success
.Slide4
“I’d rather work by myself than with
subpar
performers.”
It
All Began with
One
Employee
4Slide5
The Talent Philosophy at Netflix
5
Hire only “A”
players.Slide6
But There’s a Catch…
6
You have to be willing to
let some
people
go
.Slide7
7
Be generous
with severance.Slide8
8
Tenets of
HR at NetflixSlide9
9
Hire Only Grown-Ups
Employees should rely on logic and common sense, not formal policies
.Slide10
The Old Policy for Paid Time Off
10
10 vacation days
10 holidays
Sick
daysSlide11
The New Guidelines for Paid Time Off
11
Take whatever time
is
appropriate.
Work it out with your
boss
and colleagues.Slide12
One Simple Rule for T&E
12
Act in Netflix’s best interests.Slide13
13
Tell the Truth About Performance
Improvement plans are dishonest. Slide14
Maria Wouldn’t Benefit from a
Performance Improvement Plan…
14… and neither would Netflix
.Slide15
Frequent, honest
conversations
15
Ratings on a
five
-point scale Slide16
A New Tool: Informal
360s16
Stop
Start
Continue Slide17
17
Charge Managers with Creating Great Teams
Make recruitment their top priority.Slide18
18
What
skills will
your team need six months from now
?Slide19
19
How
can you
fill the gaps
?Slide20
20
M
arket rates
Choice on equity
I
mmediate vesting
Netflix’s
Compensation
PhilosophySlide21
21
Charge Leaders with Creating the Right Culture
They have to model the behavior they want to
see.Slide22
A Classic Tension at Start-Ups
22
Efficiency and
high performance
C
asualness
and fun
VSSlide23
23
Make sure employees understand what behavior drives success. Slide24
24
Subcultures may require
different approaches.Slide25
25
Think Like
Businesspeople
First
Cheerleading doesn’t improve
morale—but good
results do
.Slide26
26
What’s good for
the company?
How do we communicate that?
What defines
high performance?
The Critical
Questions
for HRSlide27
27
HR people can be innovators, too
.Slide28
28
Trust employees
Be honest
Recruit
stars
Walk the talk
Focus on results
Netflix’s
Recipe
for High Performance
=Slide29
29
Are our HR practices too bureaucratic?
What do they focus on most?
Could they support our business goals better?
Do they help employees understand how to drive results?
Would replacing rules with common sense work here?
How would things change if we made recruiting stars the top priority for our managers?
For DiscussionSlide30
Learn More
30
Harvard Business Review Magazine
and Web
Articles
How
Netflix Reinvented HR
Patty
McCordReinventing Performance Management Marcus Buckingham and Ashley GoodallTalent Management for the Twenty-First CenturyPeter CappelliBuilding a Game-Changing Talent StrategyDouglas A. Ready, Linda Hill, and Robert J. Thomas Harvard Business Review Press BooksThe Alliance: Managing Talent in the Networked AgeReid Hoffman, Ben Casnocha, and Chris YehIt’s Not the How or the What but the Who: Succeed by Surrounding Yourself with the BestClaudio Fernández-AráozHBR’s 10 Must Reads on Managing People