Jeff Bezos valued Amazon Employee loyalty at just $5K to quit
The Jeff Bezos Amazon employee loyalty value of just $5K to quit is given as the annual 'pay to quit' offer to see how loyal they were.
Amazon CEO Jeff Bezos reportedly made an annual offer to employees: $5,000 to quit. The “Pay to Quit” offer, as it was dubbed, was made once a year so that Amazon could ensure that all of its employees were loyal and sincere.
The program was launched in 2014 with the goal of retaining only loyal employees who wanted to advance in the company.
Employees were offered $2,000 in their first year of employment, with the amount increasing by a thousand dollars each year up to $5,000. Typically, the offer was made following a rush or peak season, such as the holiday season, after they had been exposed to work pressure, and was followed by a lean period. Naturally, the organization hoped that the employees would decline the offer.
The offer was made in order for employees to seriously consider what they expected from themselves and the organization. This prompted them to consider whether they were in the right company and doing the right job. Employees who were dissatisfied or unhappy took advantage of the opportunity to accept the money and move on to a more suitable company.
The strategy is effective in weeding out employees who may not be useful or meaningful to the organization. Offering this incentive allows organizations to get their employees to think and be honest with themselves.
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