Amazon every year asks employees to quit, gives them Rs 3 lakh if they do because it wants loyalty
Wednesday, May 23, 2018 IST
Amazon as a company is known for its innovative products and out-of-the-world projects. The company has not only pioneered smart devices such as smart speakers and Kindle but also designed futuristic buildings such as Amazon Spheres and Amazon Go. While everything happening at Amazon seems outworldly, once in a year this multi-million dollar company does something unusual. It offers up to $5,000 (Rs 3.4 lakh approximately) to all its full-time and part-time employees as an incentive to quit the company.
The offer begins at $2,000 (Rs 1.36 lakh approximately) for the employees who have worked with the company for a year and it increases by $1,000 every year maxing out at $5,000. As mentioned earlier, all Amazon employees are eligible to accept this offer but there is a catch. Employees who accept the offer can never work at Amazon again.
The program called "Pay to Quit" was originally introduced by shoe and cloth e-retailer website Zappos, which was acquired by Amazon in 2009. It was introduced in the company by Jeff Bezoz in 2014.
Amazon claims that it does not want its employees to take the offer. In fact, the headline of the offer says, "Please Don't Take This Offer". So why does it make such an offer to its employees in the first place? Well, the answer is pretty simple. Amazon wants its employees to take a moment and think about what they want in life. The company believes that an employee working at a place they don't want to work isn't healthy, neither for the organisation nor for the employee. And so, while it doesn't want its employees to leave, by making such an offer the company ensures that only the motivated employees stay behind.
While the offer as such might not force the employees to quit, it proves as a yardstick to check employees' motivation and commitment level and helps the company bargain for a psychological contract with them. In effect, the employees who decline the offer also help in increasing the overall performance of the company as they are highly motivated and committed towards the company.
Related Topics
Trending News & Articles
While the Uttarakhand High Court has asked to block 857 websites, the Ministry of Electronics and IT (Meity) found 30 portals without any pornographic content.
...
Recently posted . 64K views . 1 min read
The four boys as well as five school officials, including the director and principal, were arrested after the incident. The minors were presented before the Juvenil...
Recently posted . 10K views . 1 min read
Rahul was having an Italian passport and was carrying suitcase full of dollars. Some say it was about was it $2 million.
Rahul and his girl friend was th...
Recently posted . 9K views . 7 min read
True – Tr...
Recently posted . 8K views . 83 min read
More in
In the event that you needed to think about the amount FDI India's real-estate sector pulled in, what rate would you presume? As low as your number may be...
Recently posted. 1K views . 34 min read
The entry-level 4G phone segment is lately receiving all the eyeballs thanks to the launch of Jio Phone, a feature phone. Airtel recently tried to take on the compe...
Recently posted. 864 views . 9 min read
Running against the principles of the Goods and Services Tax, the Council’s 27th meeting being held via video-conferencing on Friday may clear the impositio...
Recently posted. 863 views . 2 min read
Recently posted . 2K views
Recently posted . 1K views
Recently posted . 3K views
Recently posted . 2K views
Recently posted . 3K views . 88 min read
Recently posted . 4K views . 52 min read
๐๐ป๐๐ฒ๐ฟ๐ฒ๐๐๐ถ๐ป๐ด ๐ณ๐ฎ๐ฐ๐๐ ๐ฏ๐ฒ๐ต๐ถ๐ป๐ฑ ๐๐ต๐ฒ "๐ก๐ฎ๐บ๐ฒ" ๐ผ๐ณ ๐๐ป๐ฑ๐ถ๐ฎ'๐ ๐ฟ๐ฒ๐ฝ๐๐๐ฒ๐ฑ ๐๐ฟ๐ฎ๐ป๐ฑ๐/ ๐๐ผ๐บ๐ฝ๐ฎ๐ป๐ถ๐ฒ๐ : ...
Recently posted. 262 views . 1 min read
The Delhi High Court, in the case of Rampali vs The State Govt of NCT of Delhi, has reiterated that nomination is not a Will in law and in the absence of a...
Recently posted. 1K views . 9 min read