In a recent end-of-year message, Wayfair CEO Niraj Shah has motivated employees to embrace longer work hours and blend work with life, citing a direct correlation between hard work and tangible results. Shah asserts that ambition is fulfilled through dedicated efforts and challenges the idea that success comes to those who are lazy.
Celebrating the company’s recent success, Shah emphasized the importance of working long hours, being responsive, and integrating work with life. He believes that most ambitious individuals find fulfillment in witnessing their efforts materialize into tangible results.
Addressing the company’s financial outlook, Shah urges Wayfair employees to treat company spending as their own, encouraging them to evaluate expenditures, assess the reasonableness of prices, and actively engage in price negotiations. Despite facing challenges in 2022, including a 5% reduction in the workforce, Shah reassures employees that Wayfair has returned to profitability.
As of December 2022, Wayfair employed approximately 15,000 individuals. Shah’s message concludes with a call for collective effort, expressing the belief that the company can achieve faster success if everyone aligns their efforts. He encourages an aggressive, pragmatic, frugal, agile, customer-oriented, and smart approach.
However, economist Nicholas Bloom offers a critical perspective on the CEO’s message. Bloom suggests that if Wayfair plans to implement an 80-hour workweek, a substantial salary increase of 50% would be necessary to adequately compensate employees. Bloom highlights the strength of the job market, indicating that employees have viable alternatives.
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