What would happen if you offered your employees $5,000 to quit their jobs? Would they go?
Amazon adopted a “Pay to Quit” policy designed to “encourage folks to take a moment and think about what they really want to do” according to Amazon CEO Jeff Bezos. This program is a version of Zappos’ policy (“the Offer”) where the company gives new employees the offer of paying them for the time they have worked plus a $2,000 bonus if the new hire quits. Crazy? Well at Zappos, 97% of the employees given the offer STAY.
Recruiting the best workers, providing a work environment where they can thrive and be productive and then retaining them is the key to successful organizations. On the one hand, you don’t want to retain employees who would rather not work for you. On the other hand, you want to retain your best workers.
Amazon and Zappos have taken the bold steps to clear out employees who would rather be elsewhere-a principle I touted in my book Uncomplicating Management. Zappos has created an environment where people want to stay. Amazon is betting they have one too.
Take a look at your organization. Are you hiring the best? Are your people productive, engaged and happy? Is your retention of your good people high? If you can’t answer affirmatively to these questions, you’ve got some work to do. Amazon and Zappos are betting they have a great place to work. You should too.
Other Posts you might like to read:
- 5 Smart Employee Retention Tips
- Costly Turnover Can be Controlled
- Simple Formula For Increasing Sales and Profits