from Amazon
Monday, November 21, 2011
Buyout options… before you work!
What a fantastic idea at Zappos:
Such benefits helped land Zappos on Fortune Magazine’s list of top 10 companies to work for.
But sometimes, even that’s not enough for a would-be Zappos employee. At the end of each new employee training session, Zappos offers new employees $4,000 to quit. Hsieh said that about two to three percent of trainees accept that offer each year.
“We don’t want employees that are there just for a paycheck,” Hsieh said.
Normally, buyout options are exercised AFTER you’ve been on the job for a certain period of time. And it’s usually on option exercised by the employer. Or, if they want to downsize, they’ll offer packages to whoever wants it.
But, to have an “upsize” package, instead of downsize, and at the start, not the end, of the person’s career? It simply flips the whole dynamic on its ear.
I just love the idea, that a person will decide how much it’s worth to them to have a job at a place that presumably people love to work at. And, as it’s been pointed out:
The vast majority of trainees turn down the offer during training – resisting the temptation to take the money and run. Then almost no one quits in the initial months after training because they’d feel like fools to quit for nothing when they could have quit for money. The cognitive dissonance would be too great. This is the power of resisted temptation.
Just love it. The above article notes you can apply this to colleges, as a way to get rid of people who don’t really want to be there, but feel they need to stick it out, by reimbursing a portion of their tuition.
I’d like to hear from the Straight Arrow readers on different applications, as it applies to the sports world.
Recent comments
Older comments
Page 1 of 344 pages 1 2 3 > Last »Complete Archive – By Category
Complete Archive – By Date