Regarding Netflix Corporate Culture: "Must Have Top Players"
[Asia Economy Reporter Lim Ju-hyung] Reed Hastings, founder of the American streaming company Netflix, expressed his frustration with the work-from-home method spreading due to the impact of the novel coronavirus (COVID-19), saying, "I can't find any good points."
On the 7th (local time), Hastings said in an interview with the U.S. media outlet The Wall Street Journal (WSJ), "Not being able to meet face-to-face is purely negative," adding, "It has become much more difficult to discuss ideas."
When asked if companies are expected to adopt remote work after the COVID-19 crisis, he replied, "If I had to guess, companies will have employees work from home one day out of five and work in the office for four days," adding, "I am confident that most companies will encourage remote work to this extent. The remote work craze will subside."
He also added, "Once the COVID-19 vaccine is approved by health authorities, I think employees should return to work within 12 hours." This is interpreted as meaning that remote work should be lifted once the risk of COVID-19 spread decreases.
In the interview, Hastings also compared Netflix's corporate culture to that of athletes. Regarding why Netflix pays higher salaries compared to other companies in the same industry, he emphasized, "We hope to have the best players," and "Three outstanding people are better than four decent ones."
The WSJ explained that Netflix has a fierce competitive culture and encourages employees to take bold challenges and communicate honestly.
It is also reported that Netflix conducts a 'Keeper test' when evaluating leadership-level employees. The Keeper test is a method where one asks oneself whether they would fight to keep an employee if that employee received a scouting offer from elsewhere.
Meanwhile, Hastings is managing Netflix together with Ted Sarandos, who was appointed co-chief executive officer (CEO) in July.
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