Wayfair's chief executive sent a bracing year-end message to the furniture chain's more than 14,000 employees: Work more.
Rather than focusing on workers' efforts and the company's profitability this year, CEO Niraj Shah encouraged employees to work such long hours that "work and life" become one, according to an internal memo first obtained by Business Insider.
A Wayfair spokesperson confirmed the authenticity of the memo.
"We are incredibly proud of our world-class team and culture of open communication. In his note, which was sent to our salaried corporate employees, Niraj was reinforcing some of the values that have contributed to Wayfair's success, including questioning the status quo, being cost-efficient and working hard together to drive results," Wayfair said in a statement to CBS MoneyWatch.
Wayfair's Online Sales Boosted During the Pandemic
Wayfair experienced a significant increase in online sales during the pandemic. However, as shoppers returned to physical stores and shifted their spending to other products and services in 2022, the company's revenue slowed down. To adapt, Wayfair had to let go of 5% of its workforce. Fortunately, the company has since returned to profitability, with CEO Shah noting that repeat customers have increased throughout 2023.
Shah emphasized the importance of employees spending company money as if it were their own and always negotiating for lower costs when possible. He encouraged everyone to consider if a purchase is worth the amount of money being spent, if the price seems reasonable, and if they have negotiated the price. Shah believes that everything is negotiable, and employees should start there if they haven't already.
While Shah's message resonated with some, there were critics who took issue with it. Adam Grant, a professor of organizational psychology at the Wharton School of the University of Pennsylvania, expressed his disagreement on Instagram. Grant stated that when people don't want to work long hours, it doesn't mean they're lazy; it means they have lives beyond work. He believes that a team delivering 40 hours of excellence is more valuable than one offering 50 hours of mediocrity.
"Hey CEOS: When people don't want to work long hours, it doesn't mean they're lazy. It means they have lives beyond work," Adam Grant, a professor of organizational psychology at the Wharton School of the University of Pennsylvania, wrote on Instagram.
"A team delivering 40 hours of excellence is wroth more than one offering 50 of mediocrity," he added.
