A recent article in Harvard Business Review by Netflix’s former Chief Talent Officer, Patty McCord, did a great job of explaining five core principles of building your team that could benefit any company. McCord, who was Chief Talent Officer at Netflix for 14 years, believes their policy towards HR is a key reason the company has been so successful. At its root, Netflix’s success is tied to hiring great people, and by hiring great people it creates a much better environment for the other great people (as everyone carries their weight). The other related foundation of Netflix’s success with its people was a willingness to let go of those who were not a good fit (or no longer a good fit). Netflix’s principles can help any company build a fantastic and high performing team. Overall, there are five core principles to Netflix’s success with its team.
Hire adults and treat them like adults
Rather than create long, complex and often bureaucratic policies on how employees should do everything, Netflix provides very high-level guidance and expects its employees to act in the company’s best interest. During the hiring process, it focuses on employees who can do this without strict guidance or careful observation. If they find they made a hiring mistake, they let the employee go. Continue reading “The right way to build, run and compensate your team”