Google’s HR boss explains how to keep your best employees

In today’s knowledge economy, people are often a company’s most valuable asset, and losing talented employees can be extremely expensive.

Laszlo Bock, the SVP of Google’s People Operations and author of new book “Work Rules!,” told Bloomberg that most companies don’t know how to hold onto their best people.

“People don’t stay for the money,” Bock said, noting that more than a third of Google’s first 100 employees are still working at the company despite making boatloads of money in its IPO.

According to Bock, people stay for the following two reasons:

1. The quality of the people they work with

“That’s why hiring is so important,” he said. Google sets a high standard for everyone it hires. Whether you’re applying for an administrative assistant position or that of senior engineer, every candidate is screened by their potential boss, potential colleagues, a hiring committee, and finally Google CEO Larry Page.

2. The feeling that the work they do is meaningful

Read also: Google could ‘rig the 2016 election,’ researcher says

“People want to do more than just make a buck,” Bock said. “People want to do something that means something.” Plus, giving employees a sense of purpose has benefits beyond retention. He cited research by Wharton professor Adam Grant that found when people are able to connect their jobs to something meaningful, their productivity increases as much as five times.

Interestingly, the lavish perks that Google is known for — free gourmet meals, in-house massages, and dry cleaning on campus — are nice-to-haves but ultimately not game-changers.

“The dirty secret of all these perks is it doesn’t actually retain people or even attract people,” Bock said. While the perks may provide efficiency, community, and an inviting atmosphere, he believes they ultimately won’t swing people who are thinking about leaving.

Credit: Business Insider

RipplesNigeria …without borders, without fears

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now