Netflix co-CEO Reed Hastings informed CNBC the business designs itself on expert sports groups, a method that has actually been important to its climb into an international streaming giant.
“If you’re going to win the championship, you got to have incredible talent in every position. And that’s how we think about it,” Hastings stated in an interview with CNBC’s Andrew Ross Sorkin that aired Wednesday on “Squawk Box.”
Hastings, who co-founded Netflix in 1997, simply released a book, “No Rules Rules: Netflix and the Culture of Reinvention,” that information the business’s fierce view on staff member retention.
Hastings’ co-author, organization teacher Erin Meyer, compared the method to “The Hunger Games.”
“We encourage people to focus on who of your employees would you fight hard to keep if they were going to another company? And those are the ones we want to hold onto,” stated Hastings.
As Netflix changed from a start-up that sent by mail DVDs to a digital streaming leviathan, the business’s focus on approving flexibility to workers has actually been an essential part to the shift, Hastings stated.
“We are fundamentally dedicated to employee freedom because that makes us more flexible, and we’ve had to adapt so much back from DVD by mail to leading streaming today,” Hastings stated. “If you give employees freedom you’ve got a better chance at that success. And the book is all about the subtlety of how do you give freedom and not have chaos.”
Hastings included he thinks Netflix’s business culture has actually enhanced over the business’s more than two-decade presence. As of Dec. 31, 2019, it had actually grown to about 8,600 full-time workers.
“Our culture is much better than it was 20 years ago,” he stated. “We’ve continued to get more honest, more thoughtful, more creative. We have better tools internally. We’re focused on inclusion, all kinds of dimensions, so our culture gets better as we get bigger.”