The AI chipmaker’s approach to employee feedback offers a leadership lesson every CEO should consider.
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Every CEO wants to keep their best people. But what if another powerful, simple way to keep employees happy and engaged, beyond competitive salaries, perks, and career opportunities, is one not enough leaders are practicing?
Listen to your people. That’s it. But here’s where so many leaders miss the mark. You have to then do something about what they tell you. That’s a lesson worth examining at Nvidia, the AI chip giant led by Jensen Huang.
According to a Fortune report, Nvidia’s global employee turnover rate is an astounding 3.7 percent, compared with a reported technology industry average of 21.9 percent.
Those numbers are striking. While Nvidia’s compensation and financial success certainly contribute to its appeal, another aspect of its culture deserves attention.
Refreshed leadership advice from CEO Stephanie Mehta
Start by listening
In the Fortune interview, Nvidia HR director Febe Punsalan explained the company’s approach to workplace culture. “We start by listening,” she said.
But here’s what makes Nvidia’s approach interesting. The company encourages employees at every level to share ideas. An intern can contribute. A junior engineer can recommend improvements. Someone without an impressive title can raise an important concern.
And according to Punsalan, employees who submit suggestions receive a response. Not every suggestion is adopted, of course. But someone considers it and responds.