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The case study on Netflix documents the talent management strategy and culture of the company. The focus of the company was on recruitment, performance review, and team building. The first goal of Netflix was to hire the right people, as the company believed that a good employee would be motivated to work more if accompanied by equally efficient colleagues.
Further, when the wrong employees are recruited, it increases the chance of attrition. The second goal of the company was to establish a process of reviewing peers. Peer reviews allow the employees to evaluate the performance of their colleagues. The third was to develop motivated teams that could work together without disruption.
The fourth focus of the company was to create a business-oriented company culture that allowed all its employees to understand the business model, goals, and mission of the company. Fifth, Netflix introduced innovative human resource management policies, like not tracking vacation and absences.
The first aim of the company was to hire the right people. It is important to hire the right people, as this will allow the company to create an environment that would support the culture of the company. The right people will understand the business and the culture within the organization. Hiring the right people will create a cohesive environment, helping in knowledge management.
Further, hiring the right people will reduce turnover ensuring higher productivity (Abbasi & Hollman, 2000). Performance review of the employees is important. 360-degree review of the employees allows peer review and self-review. When evaluating an employee, this holistic evaluation process concentrates only on the performance of the employee.
Feedback of employees from peers, seniors, and subordinates can provide a competitive advantage to the company (Potočnik & Anderson, 2012). The case study shows that a holistic environment for performance review helps garner a competitive advantage for the company. However, the success of a 360-degree assessment to increase performance has not been proven through empirical findings (DeNisi & Kluger, 2000).
The managers of Netflix value the importance of creating a great team. A good team would work in accordance with the company’s strategy and follow the goal of the company. Here the stress is not only on creating a good team, but on also ensuring that the managers become good leaders. It is important to have a great team, but it is equally important to have a focused team-leader.
The company culture is important to ensure that human resource management can become a competitive advantage. Hence, leaders are responsible for ensuring implementation of the company culture within the organization. The leaders of the company develop the company culture. Leaders must remove all discrepancies between values and behavior within the organization.
Further, the leaders must ensure that the employees understood the business model and strategy in order to align their personal goals with that of the organization. Further, leaders must disseminate their knowledge about the organization to all the employees within the company. This will help the employees to know the different segments within the organization and understand the unique subcultures present within the departments.
Talent management is not a process of HR but that of innovation and business. Therefore, talent management must not be approached as simply as acquiring people, but hiring the right people and grooming them in the right manner. Thus, approach towards the human resource, talent acquisition, and management should be from a strategic point of view rather than through the lenses of human resources.
References
Abbasi, S. M., & Hollman, K. W. (2000). Turnover: The real bottom line. Public Personnel Management, 29(3), 333-342.
DeNisi, A. S., & Kluger, A. N. (2000). Feedback effectiveness: can 360-degree appraisals be improved? The Academy of Management Executive, 14(1), 129-139.
Potočnik, K., & Anderson, N. (2012). Assessing Innovation: A 360‐degree appraisal study. International Journal of Selection and Assessment, 20(4), 497-509.
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