$70K Minimum Wage is Paying Off for CEO Who Took Pay Cut to Lift Workers
Profits and productivity have doubled, customer retention is through the roof, and new customers continue to flock to a company with a $70,000 minimum wage.
The leader of a giant digital media firm believes time with family is good for business, so he's urging workers to take six weeks of paid vacation per year.
The boss at this Los Gatos, California-based company is telling his 2,200 employees to take six weeks of vacation every year, just like he does — and he'll pay them to do it.
"I take a lot of vacation and I'm hoping that certainly sets an example," Netflix CEO Reed Hastings said Tuesday. "It is helpful. You often do your best thinking when you're off hiking in some mountain or something. You get a different perspective on things."
"I take a lot of vacation and I'm hoping that certainly sets an example," Netflix CEO Reed Hastings said Tuesday. "It is helpful. You often do your best thinking when you're off hiking in some mountain or something. You get a different perspective on things."
Netflix actually offers unlimited vacation time, but opponents to the idea say it makes people less likely to use it, for fear of losing their jobs because they don't look like hard workers.
Hastings hopes his example of taking lots of time off sends a different message — easing workers' fears, and letting them relax on more vacations.
As of November 5, there are dozens of Netflix job openings listed for their 2 California locations in need of IT staff, and various other positions, and one opening in Utah for their call center.
(READ more at Fortune) Photo by cellanr, CC
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