Overstock.com
Midvale, UT
Grade: A
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Editor’s Summary: Online retailer Overstock.com is located in Silicon Slopes – a hub for business investment, developments, and technology. The company boasts a 9/80 flex schedule to encourage team members to maintain a healthy work-life balance and sponsors a “TotalBalance” program to establish and maintain an environment to promote the health and wellness of our associates through education and various wellness focused initiatives. Overstock’s CEO, Jonathan Johnson, is a leading example in addressing company culture and morale during the pandemic. Since employees have been working from home, Jonathan has continued to send a company-wide email at the end of every week to employees to check in, provide company updates, respond to any Q&A, encourage employees to take PTO, and recognize employees with significant tenure milestones. Furthermore, given the scope and breadth of what we do, there are always opportunities for growth and experimentation. Between the retail division of Overstock and its wholly owned blockchain subsidiary Medici Ventures with its nearly 20 keiretsu companies, which includes its blockchain-meets-capital-markets company, tZERO, there are often opportunities for team members to transfer to entirely new teams while remaining within the Overstock family. This provides unique and safe growth opportunities for our team members. The $100 million state-of-the-art campus provides a lounge equipped with meeting spaces, café, coffee and juice bar, and game room that allows for fun events and intuitive collaboration. |
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Intro: Silicon Slopes,’ one of the fastest growing technology hubs in the country. We’re game changers, problem solvers, and collaborators. We are a passionate group of creative people who love and believe in the work we do. Each one of us has a unique role in a fast-paced, tech-driven ecommerce landscape. We believe in creating dream homes for all and do so by continually finding ways to utilize and develop cutting-edge technologies to help customers find just what they are looking for at every touchpoint. |
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Impact statements
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Compensation:
Overstock determines compensation levels for team members based on market rates, as we proactively gather data and compare our compensation to ensure it is competitive to the local Utah market. The company also evaluates compensation levels on the length of the associate’s relevant work experience, skill-level, and on-the-job performance of the individual. Compensation is additionally based on Overstock’s company performance, which determines variable compensation.
Advancement Opportunities:
Overstock encourages experimentation with new technologies and new processes, which gives team members the opportunity to learn new skills. Furthermore, given the scope and breadth of what we do, there are always opportunities for growth and experimentation. Between the retail division of Overstock and its wholly owned blockchain subsidiary Medici Ventures with its nearly 20 keiretsu companies, which includes its blockchain-meets-capital-markets company, tZERO, there are often opportunities for team members to transfer to entirely new teams while remaining within the Overstock family. This provides unique and safe growth opportunities for our team members.
Training Opportunities:
Beyond access to online learning systems like Pluralsight and Lynda, we also conduct an internal, annual technical conference called TechKno where internal and external experts present on various technical topics to help educate other team members.
Overstock additionally hosts regular leadership development sessions and internal trainings on topics such as unconscious bias, tough talks, and leadership. Associates additionally have the chance to attend external and internal tech conferences to expand their knowledge.
Medical Benefits:
Overstock provides a vast health and wellness package for our employees. Our company offers benefits including medical, dental, and vision coverage as well as access to HAS and FSA accounts. Life insurance and short and long-term disability coverage is also offered at Overstock.
Additionally, Overstock’s global headquarters has an onsite health clinic, where employees and their families can receive care including primary care, referrals, chronic disease management, injury/illness treatment, sports physicals, minor procedures, medications, annual exams, pediatric visits, and women’s health. The campus also has an onsite fitness center providing group fitness classes, state-of-the-art gym equipment, trainers, and a sport court.
There is also an Employee Assistance Program (EAP) in which employees can take advantage of coaches to help with personal problems or issues that are interfering with employees’ lives and work. Overstock employees can also take part in our wellness program, TotalBalance, which is provided to encourage a healthy lifestyle through tracking mental and physical goals. Participating employees are entered into raffles where they can win PTO, fitness equipment, electronics, swag, and more.
Community service/charitable causes:
Employees are offered time to participate in Company Volunteer Time-Off, where the employee can use up to eight hours of paid time off to participate in company sanctioned volunteer opportunities.
We also pride ourselves on the philanthropic arm of Overstock.com, Overstock Cares. For over 20 years, we have partnered with nonprofit organizations across the globe to support our communities, respect the environment, and volunteer our time to those in need. Some of our corporate sponsorships include Special Operations Warrior Foundation, Best Friends Animal Society, and the American Red Cross. We have also worked alongside organizations such as EveryoneOn, Wasteless Solutions, The Trident House, Wounded Warrior Project, Utah Food Bank, Make a Wish Foundation, Hope Refuge, and others to help create the change we want to see in the world.
Measuring satisfaction:
Twice per year, Overstock initiates its Review of Associate Development assessments, where associates give feedback on their team members to increase professional development and growth. The company additionally administers semi-annual employee satisfaction surveys to gauge employee satisfaction to then introduce new initiatives based on employees’ responses.
Overstock’s leadership is also encouraged to have one-on-ones with their direct reports, as well as provide skip-level one-on-ones to discuss employee satisfaction and career growth opportunities. Overstock additionally measures culture through Likert-Type surveys.
Peace Coliseum was designed with an open floor plan that inspires and encourages collaboration and innovation between employees. The circular layout provides a coordinates system for desks, offices, and meeting rooms so employees can easily navigate the building. A unique feature of the building is the View Dynamic Glass windows that automatically tint based on the local weather and time to keep employees comfortable. The onsite greenhouse is additionally open for meetings or can be used as a space to meditate, eat lunch, or take a break. The onsite gym facility is also provided for employees to keep the body and mind healthy.
Work/Life:
Work/life balance is very important to Overstock. Our employees have the option between two work schedules they can choose from. We offer the traditional 40-hour work week program, or a flexible scheduling option where employees work 80 hours in nine days and have every other Friday off. Employees also start with two weeks of PTO, which moves to three after their first-year anniversary and then to four-weeks after five years. Overstock provides eight paid holidays per calendar year as well as a floating holiday which employees can use on a date of their choice.
Overstock’s global headquarters additionally is equipped with an onsite gym facility, health clinic, daycare, greenhouse, and café.
Creative meeting places:
Overstock’s global headquarters, Peace Coliseum, provides many unique spaces inside and outside of the building that encourage collaboration and creativity. The $100 million state-of-the-art campus provides a lounge equipped with meeting spaces, café, coffee and juice bar, and game room that allows for fun events and intuitive collaboration. Peace Coliseum also has an outdoor courtyard stocked with grills and fireplace gathering areas. You can find teams having lunch, team socials, or enjoying the fresh air while being able to work outside in the courtyard area. There is also a large grass area where we’ve held many sports games and company events. The headquarters additionally offers an on-site greenhouse, where employees can escape to have peaceful meetings and meditation sessions.
We have also hosted events at local pubs and restaurants as well as Top Golf, which is conveniently located across the street from Peace Coliseum.
Perks:
Overstock has always been generous with their company perks. We offer a tuition reimbursement program that encourages employees to expand their knowledge and grow their career. We hold a yearly private summer party for Overstock employees and their families at Lagoon Amusement Park, the state’s biggest theme park, as well as an Employee Fall Concert with past performances by Neon Trees, Snoop Dogg and Bret Michaels.
Employees also receive a free Club O membership, which is Overstock’s loyalty and rewards program offering rewards back on purchases and free returns on select products.
Overstock additionally offers a long list of corporate discounts ranging from healthcare, fitness club memberships, electronics, mobile phone plans, travel, ski passes, entertainment, financial services, and real estate. The company also offers numerous mobile service offerings at its global headquarters including barber and salon services, car detailing, dental care, and massage therapy.
Peace Coliseum also provides numerous perks to employees, including an onsite café that locally sources its healthy food options from nearby as well as from our onsite greenhouse. There is also a separate coffee/juice bar that serves coffees, teas, pastries, smoothies, and fresh juices.
Fun:
Peace Coliseum is equipped with multiple unique activities team members can partake in throughout their days, including ping-pong tables, video games, pinball and arcade machines, onsite massage reservations, as well as a sport court with basketball hoops and volleyball equipment.
The company also hosts monthly onsite social events, monthly gatherings around the onsite firepits and BBQs, as well as team activities, which are currently virtual due to COVID-19.
How corporate vision is communicated:
Overstock holds quarterly company-wide all hands and monthly team-based all-hands where leaders transparently communicate vision and priorities. Employees are abreast to the corporate vision and track and report on progress on their projects aimed at reaching the company’s goals on a quarterly basis.
Diversity:
Overstock provides training for all team members on supporting a diverse and inclusive work environment. Furthermore, Overstock took the Parity Pledge to increase gender parity at the top of the business. The pledge requires Overstock to interview one qualified female for all VP and above positions. We additionally took the Parity Pledge for people of color, where we must interview one qualified person of color for open positions that are VP and above.
Employees, both male and female, are encouraged to join the Overstock Women’s Network (OWN), which supports, inspires, and celebrates women in our professional community. OWN is an all-inclusive group providing events like leadership seminars, networking events, book clubs, and philanthropic opportunities.
Overstock also promotes other social justice causes through frequent leadership communication.
Empowering employees:
Overstock encourages all team members to share their opinions openly and to respect the opinions of others. Leaders actively listen to their team members to obtain input on various topics. For example, employees are encouraged to utilize Idea Lab, a company-wide forum where any level of employee can submit ideas to improve the company. Associates also feel empowered to use their expertise to solve problems.
Employees are encouraged to participate in the company’s formal mentorship program, where they can discuss their ideas and gain knowledge from someone they may not normally work with.
Team members that have gone above and beyond their job responsibilities are recognized internally during company and team all-hands. We also regularly submit notable individuals for various external award recognitions.
At Overstock, we believe in the constant evolution of our technology and tech stack evolution that can only be driven by a shared ownership of our technology throughout the organization. Often, this starts even before the planning phase of an application.
Technologists at Overstock are encouraged to hold brown-bag lunch sessions and reading groups to explore new technologies and think critically about opportunities to take advantage of emerging technologies in order to address the ever-evolving breadth of our business needs.
We also host a variety of technology meet-up events at Peace Coliseum in Midvale, Utah, and once a year we host our own internal technology conference where we have dozens of speakers from across the company share their insights into the latest trends, technologies, and learnings within their own areas with the rest of the company.
Each week, we also hold Lean Coffee, an open session for the company where anyone can bring questions or discussion topics they might have and discuss them with our architects, leadership, and other technologists in an open format.
When it comes to the applications themselves, we believe those working the closest to the technology are best suited to understand the nuances of it. Technologists are encouraged to think critically about the unique problems within their application areas and introduce the best new technologies to address the ever-changing needs of our business. While technology can be introduced at any level, we’ve found that tech ideas that get their start from individual team usage has a far greater adoption rate throughout the company, and passionate individuals throughout the organization can make use of the technologies that best work for them.
In addition, through our continuous deployment and integration infrastructure, we empower teams to give life to their ideas in a matter of minutes, with near complete control over their own containerized environments. With our real time monitoring integrations, our professionals have real time insights into the performance and health of their applications, allowing them to truly understand what is always happening with their applications. Through this ownership of not just the application code, but the monitoring and life of the application itself, we better poise our technologists to grow and expand their knowledge of the cloud, machine learning, data engineering and several other disciplines in order to continually grow their knowledge and careers.
Ensuring well-being:
We offer a flexible scheduling where employees can choose a standard five-day work week or an alternate 9/80 schedule of working nine days over two weeks allowing the employee to take every other Friday off.
Employees are also offered time to participate in Company Volunteer Time-Off, where the employee can use up to eight hours of company paid time off to participate in company sponsored volunteer opportunities.
Overstock provides an Employee Assistance Program, a 9/80 flex schedule to encourage team members to maintain a healthy work-life balance and sponsors a “TotalBalance” program to establish and maintain an environment to promote the health and wellness of our associates through education and various wellness focused initiatives.
Overstock offers generous health and wellness benefits, such as dependent care options including childcare, a gym facility, and health center all located on campus. Overstock also hosts weekly meditation sessions and provides healthy food options in our onsite café.
Overstock’s CEO, Jonathan Johnson, is a leading example in addressing company culture and morale during the pandemic. Since employees have been working from home, Jonathan has continued to send a company-wide email at the end of every week to employees to check in, provide company updates, respond to any Q&A, encourage employees to take PTO, and recognize employees with significant tenure milestones.
Going remote company-wide so quickly due to the pandemic was a big change we all had to face. However, Overstock managed to do this without missing a beat. Working from home has led to more frequent company standups, organizational all hands, and overall Zoom meetings. As leadership has placed a large emphasis on over-communicating while employees are remote, the communication and transparency delivered to each associate in these meetings has been an essential part for our success while working remote.
Due to the influx of Zoom meetings we are all experiencing we have organized regular team activities, fun Slack channels, and offered ways on how to fight Zoom fatigue and burnout. We are always welcoming and encouraging new ideas to help fight the burnout and utilizing our Events team to help with virtual games and happy hour for our teams.
| Closing company statements: Overstock has a strong culture of ownership, transparency, and safety for all team members, which is emulated by the entire leadership team. We do our best to give teams the space and time to create amazing software and applications. When we fail at this, or other goals, we own the failure and look for how we can continually improve.
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