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That's better than being forced to do interviews at other FANGs, getting offers and only then getting raises matching those offers. I heard Netflix suggested th

by zerr 3y ago

That's better than being forced to do interviews at other FANGs, getting offers and only then getting raises matching those offers. I heard Netflix suggested this as well, for determining the current "market rate". Offloading the market research to engineers basically.

fnordpiglet 3y ago
In finance this is called price discovery. In the labor market it’s called waiting until someone is one foot out the door. It’s much more expensive to correct the situation once someone has already decided to leave.
- olivierduval 3y ago
  But corp logic: it's cheaper to raise ONE top performer when he wants to go than to raise EVERYBODY (even those not interested in leaving) to match market
  - bb88 3y ago
    No argument, but if I'm interviewing and get a better offer, I'm probably gonna leave. Further in some corporations, interviewing for other positions is a bright shiny red flag for that person to be let go or fired. Even if they accept the counter offer.
    - LoganDark 3y ago
      > if I'm interviewing and get a better offer, I'm probably gonna leave. If I could get the same amount of money from my current job I would probably stay unless I'm sure I would love the other job more. Because when money is a constant, it's either do I want to keep doing what I'm good at, or jump into something possibly different (and riskier).
jedberg 3y ago
Yup! We were encouraged to take interviews at other companies for multiple reasons. One was to report back the offer as data for the HR team. They used that both in level setting new offers as well as making sure you got an appropriate raise. It was also because Netflix understood that if you found a better job, it was better for both you and Netflix to leave and take that job, because it meant that you weren't truly happy at Netflix and may not be doing your best work. It was truly an enlightened way to think about talent, and I've never seen anything as good since.
- beoberha 3y ago
  It’s an awesome mentality, but I think it comes out of Netflix being a company that sells to consumers and not enterprises. I work at a big cloud company. We don’t have enough engineers to do the work our customers want us to do. Each piece of work comes from someone spending millions of dollars a year that has executive visibility. Letting someone go means some committed project goes unfunded and an unhappy customer.
  - willcipriano 3y ago
    > We don’t have enough engineers to do the work our customers want us to do > Each piece of work comes from someone spending millions of dollars a year You can afford to hire, you have the work. Where's the bottleneck? I'm hearing lots about unemployed people, especially on here.
- kayge 3y ago
  Sounds pretty ideal! But it also sounds like you're talking about all of this in the past tense... why did you end up leaving, if you don't mind me asking? :)
  - jedberg 3y ago
    Had a baby and retired. :) Retirement didn't last though, now that both kids are in school I'm back at work. FWIW I would go back in a heartbeat if they had a role for me.

by zerr 3y ago

fnordpiglet 3y ago

In finance this is called price discovery. In the labor market it’s called waiting until someone is one foot out the door. It’s much more expensive to correct the situation once someone has already decided to leave.

olivierduval 3y ago
But corp logic: it's cheaper to raise ONE top performer when he wants to go than to raise EVERYBODY (even those not interested in leaving) to match market
- bb88 3y ago
  No argument, but if I'm interviewing and get a better offer, I'm probably gonna leave. Further in some corporations, interviewing for other positions is a bright shiny red flag for that person to be let go or fired. Even if they accept the counter offer.
  - LoganDark 3y ago
    > if I'm interviewing and get a better offer, I'm probably gonna leave. If I could get the same amount of money from my current job I would probably stay unless I'm sure I would love the other job more. Because when money is a constant, it's either do I want to keep doing what I'm good at, or jump into something possibly different (and riskier).

jedberg 3y ago

Yup! We were encouraged to take interviews at other companies for multiple reasons. One was to report back the offer as data for the HR team. They used that both in level setting new offers as well as making sure you got an appropriate raise. It was also because Netflix understood that if you found a better job, it was better for both you and Netflix to leave and take that job, because it meant that you weren't truly happy at Netflix and may not be doing your best work. It was truly an enlightened way to think about talent, and I've never seen anything as good since.

beoberha 3y ago
It’s an awesome mentality, but I think it comes out of Netflix being a company that sells to consumers and not enterprises. I work at a big cloud company. We don’t have enough engineers to do the work our customers want us to do. Each piece of work comes from someone spending millions of dollars a year that has executive visibility. Letting someone go means some committed project goes unfunded and an unhappy customer.
- willcipriano 3y ago
  > We don’t have enough engineers to do the work our customers want us to do > Each piece of work comes from someone spending millions of dollars a year You can afford to hire, you have the work. Where's the bottleneck? I'm hearing lots about unemployed people, especially on here.
kayge 3y ago
Sounds pretty ideal! But it also sounds like you're talking about all of this in the past tense... why did you end up leaving, if you don't mind me asking? :)
- jedberg 3y ago
  Had a baby and retired. :) Retirement didn't last though, now that both kids are in school I'm back at work. FWIW I would go back in a heartbeat if they had a role for me.