Free haircuts for employees got this companies stock to rise by 650% — You know this company!
This company grew from 2 employees in a garage to over 37000 in the last 15 years. Most of the products they create are changing various industries. Most of these products were non existent and today we cant live without them. They operate in over 40 countries. Their stock grew over 650% in the past 10 years. They were awarded “The best place to work” for over 4 years.
So how did they do it?
They have bicycles at campus, free WiFi-enabled bus, gym memberships. They did one thing different… Free haircuts to its employees & that set them apart!
Leaders in this organization strongly believe
They do NOT have to justify investing in people
They invest in their people the same way they invest in their products. They are determined to attract and retain talent.They learnt from other companies like SAS. (SAS is the best place to work according to the “best place to work institute”).
They were not seeking to be the best place to work. They were just trying to make their business a sustainable one, retaining all the knowledge in-house. Most of the organizations we know struggle to do this and follow metrics like “Attrition”, “Cost of hire”, “Cost of re-hire”. To them all these metrics are irrelevant if the employees do not leave in the first place.
They appeal to the heart
Most of the jobs we ask people to perform at work, lack variety & challenge. In other words, it is routine, mundane, and has little scope for inspiration or fulfillment. This company on the other hand allows its employees to spend 20% of their time on a project of choice. They can work on anything! work related or otherwise. It could even be working on an idea that would probably benefit a competitor!!!. or it could turn out to be a company by itself!
Are absolutely transparent and Honest
They are brutally honest and transparent. Right from choosing the work place location, how they want to work, to how they like to be compensated, food they get at campus, to all the way naming the product they work on (including the future customers). They also see the results of their feedback. Not just their group, but everyone else (though privacy is protected). When the company takes action based on the feedback, they share that too.
All this defines employee relationships very differently. It creates an experience and a reason to be a part of the organization.
Some of us may recall a few of these perks and relate to a few companies, while some of us may think these practices and philosophies are completely unworkable.
They defied conventional thoughts or practices in the people industry. However they did what was right for them. No justification required.
Any way you lean right now, according to the CEO of this company
“Almost everyone who has had an idea that’s somewhat revolutionary or wildly successful was first told they were insane.” — Larry Page — CEO Google.