• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Saturday, May 17, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

What was Tony Hsieh- late former CEO of Zappos’ ‘$2,000 to quit’ offer?

by Chhavideep Singh
December 3, 2020
in Business
Reading Time: 2 mins read
0
Tony Hsieh
TwitterWhatsappLinkedin
Tony Hsieh: Late former CEO of Zappos
Source: Inc. Magazine

What do people want when they talk about working in a top-tier company? Most of you must answer ‘Money’, and yes that is true, but is it the only thing one wants?

You might also like

“We came close,” admits Sundar Pichai about Google’s near acquisition of Netflix

Weekly Business News: From Antfin’s exit from Paytm to Zerodha on the Nasdaq Tower

Weekly Funding News: Indian startups raised $152 Mn this week; from Groww to Hocco

Monetary consideration is a part of the agreement when you are hired and the employer wants your time, effort and skill to ultimately add value to the company’s business in one form or the other. Keeping both sides in check, one can call this equation balanced and this makes the workplace more efficient, more productive and happy.

Late former CEO of Zappos, Tony Hsieh believed in the same theory and in his tenure of over 20 years as CEO, he delivered countless productivity strategies and policies that endorsed working in a happy and productive workplace.

Zappos is a US-based online retail company that was acquired by Amazon in the year 2009 for USD 1.2 billion.

Tony Hsieh devised a very interesting policy in Zappos which was referred to as “The Offer” in which new employees who were unhappy with their work or workplace, in general, were offered a bonus of $2,000 to quit.

Sounds like a bribe, doesn’t it? Well, according to a 2008 Harvard Business Review article, as published by Business Insider, “The Offer” was described as a policy which involved that new employees, potentially unhappy with their work and company’s work environment were offered a bonus $2,000 cheque following a training period of four consecutive weeks.

In its initial stages, the company wasn’t big enough to offer $2,000 to every employee who’d like to quit, but still inculcated this policy and started offering $100, $500, $1,000 and finally $2000 along the years.

Noteworthy to mention, this bonus amount was paid on top of the existing salary of the employee, for whatever period of time he/she has worked with the organisation.

Tony Hsieh mentioned in a 2016 Business Insider interview,

“We want to make sure that employees aren’t here just for paychecks and truly believe this is the right place for them.”

The man was actually known for his out-of-the-box ideas and workplace policies intended to make the workplace, a better, efficient, productive and happy place.

It is learned that this practice is started was manly to chicken out those employees who were either there just for the sake of money or were simply not a good fit for the company’s workplace.

As unfortunate as it is, Tony Hsieh died this Friday on November 27th in a house fire in Connecticut.

Tags: Tony HsiehZappos
Tweet54SendShare15
Previous Post

LEOVEGAS – Vegas on your fingertip

Next Post

Airbnb Inc.’s busy December- aiming for $35 billion valuation in upcoming IPO

Chhavideep Singh

Hi! I'm Chhavideep, If you like reading about technology, business and start-ups, you've come to the right place. Catch me: [email protected]

Recommended For You

“We came close,” admits Sundar Pichai about Google’s near acquisition of Netflix

by Ishaan Negi
May 17, 2025
0
Another milestone in Sundar Pichai’s journey as AI boom gets him close to billionaire status

In a rare moment of candid reflection, Google CEO Sundar Pichai recently disclosed that the tech titan once came very close to acquiring Netflix — a move that,...

Read more

Weekly Business News: From Antfin’s exit from Paytm to Zerodha on the Nasdaq Tower

by Ishaan Negi
May 17, 2025
0
Weekly Business News: Top business updates in this week

As global politics, business strategy, and technology intersect in new ways, India is increasingly finding itself at the heart of key developments—ranging from Big Tech’s manufacturing decisions to...

Read more

Weekly Funding News: Indian startups raised $152 Mn this week; from Groww to Hocco

by Ishaan Negi
May 17, 2025
0
Weekly Startup Funding News: Indian startups raised $196 Mn this week; from Emiza to Leap

After a sharp uptick the previous week, the Indian startup funding ecosystem witnessed a dramatic pullback in momentum.

Read more
Next Post
Airbnb

Airbnb Inc.'s busy December- aiming for $35 billion valuation in upcoming IPO

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?