Success Behind Netflix
Updated: May 21, 2020
With 151 million paying subscribers, Netflix has truly made its name in the on-demand media industry. The convenience of subscribers consuming any program they desire at any time on whichever device they prefer has changed the tv industry completely.
People must be wondering who is the man behind Netflix and how does he make Netflix successful to what it is today?
Reed Hastings believes in allowing his employees to take charge and act in the company’s best interests. When employees are given opportunities to make decisions at work, they are more likely to be invested. The power to make decisions allows each employee to generate a sense of responsibility that drives them to work well for the benefit of the company. As a transformational leader, Hastings motivates and inspires his team to work towards the success of Netflix. Traditional corporate demanding practices are being thrown out to make way for growth, innovation and transformation.
All information is to be shared among employees openly, broadly and deliberately regardless of role in the organisation, to better equip employees in better decision-making. Despite the concern of having leaks, the value of having each employee highly informed is worth it. Constructive feedback is highly encouraged and easily taken as the organisation focuses on developing strong professional relationships with one another. Silent disagreement is certainly unacceptable and unproductive, holding the company back to thrive.
The impact of his leadership methodology has created such a positive company environment, earning him an 88% approval rating on Glassdoor. The key to adopting this leadership methodology is building confidence in your team, ensuring you are likely to make far fewer decisions going forward, should you empower your employees enough to manage an autonomous-driven work culture and believing that they will do what is right for the company.