Netflix CEO Ted Sarandos recently spoke about the modifications made to the company's well-known culture memo during an interview at WSJ's Tech Live conference.
Internal Pushback Over Updated Culture Memo
Sarandos revealed that Netflix faced internal resistance following an update to its renowned culture memo. Despite this, during a conference appearance, Sarandos stood by the decision, emphasizing the necessity for evolving the company culture. He noted that Netflix's core values now emphasize responsibility as much as freedom.
June Update and Employee Feedback
The update to Netflix's culture deck in June came after receiving 1,500 comments from employees over the course of 12 months. The revised deck included a new section titled "People Over Process," focusing on hiring individuals who exhibit exceptional responsibility and value openness and freedom.
Changes to the "Keeper's Test"
One significant alteration involved the addition of a disclaimer to the "Keeper's Test," a tool used by managers to assess whether an employee should be retained. This updated version encourages regular communication between employees and their managers to address any concerns.
Evolution of the Culture Memo
Sarandos acknowledged that the original culture memo, created by Netflix founder Reed Hastings when the company had fewer than 300 employees, needed updating to align with the current workforce of over 14,000 employees. While the initial emphasis was on freedom, the revised document now underscores the importance of both freedom and responsibility.
Preserving a High-Performing Environment
The culture memo, once hailed by former Meta COO Sheryl Sandberg as a significant document, aims to maintain a culture that attracts top talent and fosters a high-performance environment. Updates in 2022 highlighted themes of "representation" and "artistic expression" while upholding the principle of meritocracy.
Netflix's commitment to adapting its culture memo to reflect the evolving needs of its workforce underscores the company's dedication to fostering a positive and inclusive workplace environment.
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By: aaltchek@insider.com (Ana Altchek,Katherine Tangalakis-Lippert)
Title: Netflix CEO Ted Sarandos Discusses Changes to Company Culture Memo
Sourced From: www.businessinsider.com/netflix-ceo-ted-sarandos-explains-company-culture-staff-memo-update-2024-10
Published Date: Tue, 22 Oct 2024 23:34:28 +0000
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