Key takeaways from Reed Hasting's book no rules rules

First

Build up talent density by creating a workforce of high performers

Introduce candor by encouraging loads of feedback.

-Frequent candid feedback magnifies the quality of the team.

-Solict feedback constantly and respond with belonging cues.

-Feedback guidelines

Giving feedback

1)Aim to assist- given with positive intent

2)Actionable-feedback must focus on what the recipients can do differently

Receiving feedbacks 

3)Appreciate-become neither defensive nor angry

4)Accept or discard- required to listen and consider but not required to follow

Remove controls such as vacation, travel, and expense policies.

-encourage mangers to set context about how to spend money

- fire people who abuse the system and speak about the abuse openly

-employees will be able to make quick decisions to spend money in ways that help the business 

-without the time and administrative costs associated with purchase orders and procurement process, you will waste fewer resources 

-employees will respond to their new freedom by spending less than they would in a system with rules.

Second

Strengthen talent density by paying top of market

- don’t pay performance based bonuses. Put these resources into salary

Increase candor by emphasizing organisational transparency 

-share sensitive financial and strategic information with everyone in the company.

-if information is about an employee’s personal life, tell people it’s not your place to share.

-As long as you’ve shown yourself to be competent, talk openly about your own mistakes, will increase trust and goodwill.

Release more controls such as decision making approvals

-Ownership of critical, big- ticket decisions should be dispersed across the workforce at all different levels.

-Do not seek to please your boss.

-A worker’s performance will be judged on the collective outcome of his bets, not on the results from one single instance.

-To make good bets, farm for dissent, socialise the ideas and for big bets, test it out

-When a bet fails, sunshine it openly so everyone can learn from the mistakes.

Third

Max up talent density by implementing the keeper test

-which of my people would I fight hard to keep if they were leaving

-Reduce fear, encourage employees to use keeper test prompt. How hard would you work to change my mind if I were thinking of leaving 

Eliminate most controls by leading with context not control

-if you want to build a ship, don’t drum up the people to gather wood? Divide the work and give orders. Instead, teach them to yearn for the vast sea.

-when considering whether to lead with context or control depends on whether your goal is error prevention or innovation. If focus is on eliminating mistakes, then control is best

-For leading with context to work, the necessary conditions are high talent density, a goal of innovation rather than error prevention and a loosely coupled system.

-Once these elements are in place, instead of telling them what to do, get alignment by providing and debating the context to allow them to make good decisions.

Review Erin Meyer culture map