Here's why Netflix gives its employees UNLIMITED holidays🧵
(1/n)
Back in 2004, Netflix came up with its ‘No Vacation’ Policy.
The premise was simple - it would no longer impose holidays on employees, nor would it force them to work when they’re in need of a vacation.
As long as the employees are getting stuff done, they’re free to vacay whenever they wish to.
In fact, CEO Reed Hastings says “We don’t track hours worked per day or week, why are we tracking vacations per year?”
Isn't that a pretty logical line of reasoning?
Instead of counting the hours worked, you just keep track of productivity (in terms of the targets achieved), and then whatever time is left can be a vacation, for all Netflix cares.
So contrary to its name, this policy gives employees a hell of a lot of flexibility in choosing when to take a vacation.
So much so that it’s effectively an ‘Unlimited Vacation’ policy.
But this doesn't mean that the company is discarding its ‘result-oriented work culture altogether.
In fact, there’s research that claims that employees fare better after returning from vacation.
Yet this policy isn't without its faults. This idea of an 'unlimited vacation' blurs the idea of the right amount of vacation.
Since the policy looks too generous to be true, employees are more likely to err on the side of caution.
They might take fewer offs than they ideally should because they don't want to make it look like they're abusing the system.
And here's the worst part - unlimited vacation means no more vacation payouts.
Since there's no set number of vacation days, the company ain't making no payout either. Well, there's no such thing as a perfect policy.
Let us know your thoughts.
Sources and further reading:
1) Netflix's Unlimited Vacation Policy Took Years to Get Right- Inc
Why is a credit card battle brewing between Amazon & Visa?
A thread. (1/n)🧵
Amazon is at loggerheads with credit card market leader Visa.
Apparently a couple of days back, Amazon told Visa credit card users in Australia and Singapore that they will be facing a 0.5% fee for using them on its websites there.
And now Amazon’s latest move is its announcement saying it will stop accepting Visa-branded credit cards in the UK starting next year.
What’s more, is that Amazon has been planning to switch its own co-branded card from Visa to MasterCard.
Pepsi briefly became the 6th largest military in the world!
Here's how 👇 (1/9)
Back in the 50s, Pepsi Cola had been trying to set up shop in the USSR.
Finally in 1972, after the efforts of Pepsi executive Donald Kramer, it successfully carved a deal to sell Pepsi in USSR. With this, Pepsico became the 1st large US company to enter the Soviet market (2/9)
After entering the country, Pepsi witnessed great success.
It generated revenues to the tune of ~$500 million in 1989. As it had no competition, the company was practically minting money. (3/9)
• There are fewer rides in Disneyland for you to ride on now.
• Dominos is taking longer to deliver orders
• Airlines have been canceling a lot of flights off late.
What's going on, you ask? 🧵(1/9)
Well, what's happening is a phenomenon termed Skimpflation.
What it essentially means is a drop in the quality of services as businesses struggle to cope with a labor shortage and rising material costs. Let’s take a look at this with an example. (2/9)
Imagine you own a restaurant. Costs are rising but people aren’t visiting your place like they used to, especially after Covid.
Now, you can pass some of these costs to consumers, but not everywhere. (3/9)
Term #insurance premiums are all set to rise by up to 40% by December.
Here's why.👇(1/n)
For starters, #lifeinsurance companies had a pretty rough year- they shelled out more in COVID-19 claims during the first quarter of 2021 than in the whole of 2020.
In fact, during the second wave of COVID, insurers saw life claims mounting by 5–10 times.
And this kind of stress isn’t good. Because insurance companies (much like people) can’t pay for all these expenses out of pocket. They need insurance too. And the people that insure them i.e. re-insurers are now contemplating drastic action.