Book being reviewed: ‘No Rules, Rules. NETFLIX and the Culture of Reinvention’, by Reed Hastings and Erin Meyer (2020). 

Netflix has an amazing reinvention story.  The company has rapidly transformed itself from a DVD mail-order service into a streaming superpower. 

What’s the core theme of the book?:

Reed Hastings, co-founder and CEO, Netflix, believes that employees need freedom and responsibility to better do their jobs. To achieve this, he believes in a workplace culture with fewer rules. 

Key take home messages and learning:

To achieve this, Netflix uses a 3-step process that is cycled continuously:

Step 1- Build up talent density: Employ high achievers only and pay them over the market rate. Allow them to make the decisions. After all, they are the best. Encourage them to experience job interviews to ensure that they maintain the edge over what they have and what they are making. If they are not meeting expectations treat them fairly and provide a generous severance package. 

Step 2- Introduce Candour: Promote a culture where instant feedback is the norm, regardless of the feedback and the setting. Speak up in meetings: don’t wait until it is over or wait another day.

Step 3- Reduce Controls: Increase employee freedom instead of developing processes that stop them exercising their own judgment. They will make better decisions and it’s easier to hold them accountable. 

Any top tips/thoughts on how this might be applied to Working from Home?

The most important thing employers can give employees working from home is their trust. Employees are being stretched in many directions during COVID and they need to know they are entrusted with getting the job done even if it comes at different hours of the day or in varying styles.

Any final comments on this book?

If an organisation implements only five percent of what is in this book, I truly believe they will enjoy the benefits of a more productive and engaged workforce