It is incredibly easy to answer the question regarding Netflix and Leadership. This two-decade-old, 60-billion-dollar company has created a hugely engaged fan base, and an unusual corporate culture full of cons and pros depending on where you sit in the power game. Numerous authors have written articles and books related to the evolution of this company, which began competing against Blockbuster, and now is the undisputed leader of the streaming industry.
The company created a sector on its own and have been leading it for over 8 years.
The story of brand NETFLIX is indeed a story of vision. Everything from branding to corporate strategy is designed to foresee the outcomes and endless possibilities of an industry that did not exist when the company was created. The company created a sector on its own and have been leading it for over 8 years.
The company has the same co-founders and CEO’s from the very beginning 20 years ago. What this means is that the decisions, regardless on how bold, courageous or confusing, were made by the same people who created the concept. That is the definition of company culture. These decisions have shaped the industry of home entertainment and streaming. Some of the most important traits of Netflix and its corporate leadership are described below.
Branding for the present, not the future.
It is easy to say that the name of the company, was created thinking in the future, instead of the present. The interesting part is not that the name was created with that purpose in mind, rather to be useful when streaming was a viable path. Almost every decision of the company, is based on the following steps. The company does not spend too much time thinking about the present, current circumstances, as they have been planned, in advance, 3 or 5 years ago.
This strategy goes beyond planification or vision, it also includes a little faith. Thinking about businesses based on what they can become in the midterm, allows companies to create a corporate identity based on creative disruption and then executed with the enthusiasm to make it work. Employees, directors, investors and other stakeholders will commit to succeeding at this vision and will put their time, effort and importantly reputation to that common goal.
Time management and control
While we cannot say that Netflix invented time management, they have perfected it. They have created a very strict no-vacation policy, where mandatory rest of lay-offs are strictly prohibited. Employees, understand the importance of their tasks, and act accordingly, delivering results within project deadlines.
That being said, team members are not forced to a daily or weekly schedule. It is a project-based working schedule. The members of the staff along with the project manager, agree to a certain deadline for project completion. Netflix does not care, whether the employees in charge of such project, do nothing, absolutely nothing, during the first 10 days. As long as they comply with the deadline, employees are free to handle their time, and the level of stress. They are given responsibility and accountability as per their promise to their word, something that is missing in many corporate cultures today.
Netflix Team Members
There are many critics who declare that this freedom, is increasing stress and anxiety levels of employees, who are not used to remote work and a simpler schedule. Regardless of the above, the levels or productivity and job satisfaction of Netflix are very high.
Good salaries increase productivity and commitment.
In the past, it was difficult or even a type of ‘denial pact, for some companies to believe that better salaries were good for the overall organisation. Although companies are economies of scale, where maximising profits while lowering expenses is one of the most important things, today it’s still important, but not fundamental in the current business environment (although this model could change again in the event of a market correction). Netflix offers great starting packages and provides numerous opportunities for career growth inside of the organisation.
Netflix Headquarters – Hollywood, USA
The research has shown CEO’S, including at Netflix, that a good, or great salary package not only attracts the best talent on the planet but also inspires them to work better and harder, attaining happier outcomes. The above consist of the three pillars of job satisfaction. When you add flexible schedules and total control over time off and vacations, we are looking at one of the best places to work in the world.
Netflix did not only develop a world-renowned brand they created a brand new business sector.
While not every company is able to afford these salary packages of schedule flexibility, there is a lot to learn and a lot to be done with regards to productivity and satisfaction in the workplace. Also, we can learn from their visionary perspectives on an industry that did not exist when the company was created. Even if your company makes visionary decisions for the next 3 to 8 months, foreseeing business outcomes is a skill that can be trained. Remember, Netflix did not only develop a world-renowned brand they created a completely new business sector.