One Mile Rule - (principles: try new shit all of the time)
While at Powerset, we had heard Facebook was paying people more if they lived within one mile of the office. So we did it too, just to see what would happen.
All I can say is WOW!
We paid people on average about $1,500 more per month. What happened was the people that moved:
- No longer had a commute, so each person captured hours back for their life
- They were happier because they had less road rage and less drama in their lives
- The spouses, girlfriends, boyfriends and pets were much happier
- They stayed longer at the office because they knew they could always just run home
- They were much more productive
- Once some people did it, other copied and
- We got way more value each month than the $1,500 per person we paid.
The way it made the team gel, the productivity gains and just the sense that everyone was kind of living the same life mattered. It had a much larger impact that I initially thought. You could implement this anyway you want, but I always recommend it. If you don't have money, offer equity, hell offer bigger monitors. Make the benefit real, but make it attractive for everyone to live nearby.