The relationship between an employee and his company is very important not only for an individual but also for the growth of the firm. However, opportunity is a vast concept and there will come a time when something better will come along the way which will eventually lead to the end of this relationship only to start a new one. Choose what’s best for you! The concept is crystal clear. And so, all good things must come to an end. At least, co-founders of Lattice, Jack Altman and Eric Koslow look at their employee retention.
Eric Koslow, co-founder of a management software company, doesn’t hesitate to let new employees know that Lattice won’t be theirs forever. Work,
“There will come a day when you want an opportunity that Lattice can no longer provide, and that’s okay,” Koslow said. Inc.,
The 31-year-old co-founder stood by his words as he stepped down from his position as CTO at Lattice to launch a new company for video makers, ‘VStream’.
Jack Altman is currently the CEO of Lattice. The 32-year-old said the typical tech company lays off employees for about two years. However, that doesn’t mean he can’t afford Lattice’s 500-plus . not focusing on ensuring employees stick around.
Benefits like a coaching program, weekly stipends for things like groceries, and a month’s sabbatical for four-year employees — have ranked Lattice as one of the best workplaces of the year. Inc. Lattice’s voluntary accident rate is currently in the single digits at 3%.
However, even with better retention rates, employees still have to be replaced as forged scales. It currently seeks to hire 150 new people each quarter, and to meet this onboarding goal, Lattice has begun offering a perk that stands for Inc., and potential talent — seed money.
In February 2020, the company launched the ‘Invest in Your People Fund’, which will set aside assets for Lattice to invest in its own employees who go on to start their own companies.
Under the plan, according to the company statement, if you have worked at Lattice for at least 3 years and on amicable terms and if you start a new company within 12 months of leaving, Lattice will earn $100,000 Will offer to invest up to Rs. A valuation of $5 million or on the terms of the seed round you’re raising, whichever is greater.
In addition, Lattice will seek to support these companies through advice sharing, networking and even through partnerships where applicable.
In their statement on February 25, 2020, Latisse said, “When Latisse employees learn that it is time for them to begin their entrepreneurial journey, we look to support them emotionally, strategically and financially. want to be there.”
The co-founders told Inc. that the fund had begun to serve a legitimate business purpose. “We’ve had a lot of people join us because they’ve heard about the program,” Koslow said, adding, “They’re like, ‘I want to work for a business that treats employees this way. does.'”
So far, two former employees have opted for the fund. This is Ming Lu, 31, who co-founded data firm Sensible in January 2020, six months after leaving Lattice. Meanwhile, Alex Krakow, 31, also co-founded marketing startup Doc in August last year.
Altman said that Lattice is this entire product suite that’s about giving companies a way to do employee-centered management, “Obviously, we have to practice what we preach.”
Lattice’s mission is to make work meaningful. It works with teams of people around the world to transform employees into high performers, managers into leaders and companies into the best places to work.
To date, more than 4,250 organizations rely on Lattice, and it has more than 15,400 resources for members of the human community. Nearly 5.55 million pieces of feedback have been shared.