Interesting article on Nvidia work culture has been circulating this last week.
https://finance.yahoo.com/news/nvidia-employees-often-seven-days-193653866.html
Employees work extremely long hours but have one of the lowest turnover rates in the industry.
Nvidia had a turnover rate of 2.7% in 2023 compared to Meta (17.5%) Amazon (15.7%) (https://www.linkedin.com/pulse/decoding-staff-turnover-deep-dive-tech-sector-aura-ceo-6strc/)
Nvidia have a work from home policy unlike big tech, but also has had a 3000% appreciation in share price since 2019!!
Are the employees staying due to the leadership, company culture and the chance to work on cutting edge technology powering the shift the AI or is it just the extremely lucrative stock grants holding people there through their vesting schedules??
In April 2024 Nvidia issued a special one time grant of an additional 25% of stock units that were given on joining Nvidia, this was called the “Jensen Special Grant”.
Some reports from Dec ‘23 have suggested that Nvidia may have a semi-retired mindset problem.
Will be interesting to see if Nvidia’s turnover rate changes after employees’ stock grants have vested making them wealthy. Will they still work those long hours??
Nvidia hashtagWFH hashtagStockGrants hashtagStaffTurnover