Ready to learn from Netflix?
I wrote a detailed summary in Chinese of “No Rules Rules” by Netflix CEO Hastings and Prof. Meyer. In just one day half a million have clicked it. Over a thousand commented and re-blogged it. Too bad Netflix does not even operate in China (Beijing’s insecurity).
In China, “our HR management is light years behind”, many say. What struck them most are: (1) in a knowledge economy, flexibility and freedom are key for innovation and success. The idea of “informed captains” is attractive. (2) Hastings spends hundreds of hours a year talking to many staff, but bosses of a typical Chinese company isolate themselves. Too many executives spend too much time with customers and regulators. They are too busy to speak with even direct reports. Smart executives know the importance of managing employees but few are as meticulous and systematic as Hastings.
At UBS, we hated 360-degree performance reviews. But Netflix made them work. Extreme candour at Netflix sounds good, but I haven’t seen a firm practise it.
Skeptics ask, “is it possible Netflix has succeeded despite its low-rule management?” But how do we analyse causality? “A randomised controlled study”?
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