The Independent's journalism is supported by our readers. When you purchase through links on our site, we may earn commission.

Google HR boss explains the only 2 ways to keep your best people from quitting

Jenna Goudreau

Sunday 16 April 2017 08:34 BST

Comments

Head of Google HR explains what helps them retain their best employees

Your support helps us to tell the story

Support Now

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

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 Stephanie Ruhle in a panel interview at Bloomberg on Tuesday 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

"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.

Get the latest Google stock price here.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies