Netflix Is An International Internet Streaming Network Essay

797 WordsNov 21, 20154 Pages
Introduction Netflix is an international Internet streaming network that allows its’ viewers to stream shows and movies from anywhere, anytime on any internet-connected device. Netflix was founded in 1997 in California as an online DVD rental company. Today, Netflix has nearly 69 million members worldwide. (Netflix, 2015) Strategy Netflix’s main HR strategy is to only higher the “fully-formed adults” who take responsibility for their performance and “act in the best interest of the company.” (Kamensky, 2014) In order to attract the most talented employees, Netflix offers wages that are up to 30% above the market rate. (Wetherbee, 2012) By defining the culture in their organization, Netflix’s HR department virtually eliminates the “formal policies” that most companies spend infinite amount of time writing and enforcing. (Kamensky, 2014) Instead, Netflix encourages managers creating strong teams that yield high performance. (Kamensky, 2014) Netflix completely eliminated the formal individual performance reviews. Alternatively, Netflix requested managers and employees to have open and honest performance conversations. (Kamensky, 2014) The leaders of the company believe that well-defined culture of the organization helps employees to “understand the levers that drive the business.” (Kamensky, 2014) Furthermore, Netflix believes that in business world, it is important to “think like business people and innovators first and like HR people last.” (Kamensky, 2014) With no official
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