The offer was started by Amazon's founder Jeff Bezos, and was given once a year to dedicated employees slated for an exit
Jeff Bezos, the founder of e-commerce firm Amazon, is well-known for his unorthodox leadership styles. In 2014, the internet giant introduced a novel programme aimed at retaining committed employees who wanted to grow in their careers with the company.
The billionaire made a $5,000 or a Rs 4.1 lakh offer to employees who quit from the company. They provided the 'Pay to Quit' option in an effort to retain a dedicated and driven staff member, according to a report by Moneycontrol.
In his shareholder letter, Bezos stated that the company provides an annual opportunity for its employees to receive payment in exchange for leaving their positions. “The offer started with $2,000 and then it goes up to $ 5,000 today. The offer also read ‘Please Don’t Take This Offer'. We want them to stay," the letter read.
But, explaining why he chose to offer the temptation, the Amazon founder said, "The goal is to encourage folks to take a moment and think about what they really want. In the long run, an employee staying somewhere they don’t want to be isn’t healthy for the employee or the company."
Prior to Jeff Bezos's adoption, the concept was first presented by Los Angeles-based online store Zappos. Typically, the "offer" was offered once a year following busy times, such as the Christmas holidays, to help employees prepare for the ensuing lull.
However, the internet giant discontinued the programme last year due to labour shortages amid the worldwide e-commerce rise spurred by the Covid-19 pandemic, and it is currently only available to graduates of its Career Choice upskilling programme.