Apart from the fact that Reed Hastings completely transformed the way people consume online content across the world, he also happens to be on the Board of Directors of Facebook.
A former member of the California State Board of Education, Hastings is also an advocate for education reform through charter schools.
Netflix is known to pay salaries that are typically much higher than customary to attract the best talent and is one of the few companies where employees can choose annually how much of their compensation they want in cash versus stock.
Other innovations include their treatment of employees who don’t meet expectations.
“At most companies, average performers get an average raise, at Netflix, they get a generous severance package,” Says Hastings because that way managers don’t feel too guilty to let average performers go.
His company also gained notoriety for eliminating sick and vacation time for employees and instead allowing them to manage this time off individually.