Why is this firm encouraging its employees to quit? It's a fair trade

The relationship between an employee and his or her company is of great importance for the growth of not just an individual but also the firm. However, opportunities are a vast concept and there will come a time when something better will come along the way which will eventually lead to the end of this relationship only to begin a new one. Choose what's best for you! The concept is crystal clear. And hence, all good things must come to an end. At least, that's how co-founders of Lattice, Jack Altman, and Eric Koslow see their employee retention.

Eric Koslow who is the co-founder of the people management software company, is not shy about letting the new employees know that Lattice will not be their forever job.

Koslow said, "There will come a day that you will want an opportunity that Lattice can no longer provide, and that is OK," reported by Inc.

The 31-year-old co-founder has stayed true to his words as he also stepped down from his position as CTO at Lattice to launch a new company 'VStream' for video creators.

Jack Altman is currently the CEO of Lattice. The 32-year-old noted that the typical tech company keeps employees for about two years. However, it does not mean that he isn't focused on ensuring Lattice's 500-plus employees stick around.

Benefits such as coaching programs, weekly stipends for things like groceries, and a one-month sabbatical for employees with four years under their belt - have led Lattice to bag a spot in one of the best workplaces this year list by Inc. Lattice's voluntary attrition rate is currently in single digits at 3%.

However, yet with a better retention rate, employees still have to be replaced as Lattice scales further. It is currently looking to hire 150 new people each quarter and to meet this onboarding goal Lattice has begun to offer one perk that stands out to Inc., and potential talent - seed money.

In February 2020, the company launched the 'Invest In Your People Fund' which will set assets aside money for Lattice to invest in their own employees who go on to start their own companies.

Under the scheme, as per the company statement, if you’ve worked at Lattice for at least 3 years and part on amicable terms and if you start a new company within 12 months of leaving, Lattice will offer to invest up to $100,000 either at a $5 million valuation or at the terms of a seed round you are raising, whichever is higher.

Further, Lattice will look to support these companies through sharing advice, networking, and even partnership where applicable.

"When Lattice employees realize it’s time for them to start their own entrepreneurial journey, we want to be there to support them emotionally, tactically, and financially," Lattice said in its statement dated February 25, 2020.

The co-founders told Inc. that the fund has already started to serve a legitimate business purpose. Koslow said, "We've had a lot of people join us because they heard about this program," adding, "They're like, 'I want to work for a business that treats employees this way.'"

As of now, two former employees have opted for the fund. These are Ming Lu, aged 31 years old, who co-founded the data firm Sensible six months after leaving Lattice in January 2020. Meanwhile, Alex Kracov, also 31 years old, co-founded the marketing startup Dock in August last year.

Altman stated that Lattice is this whole product suite that's all about giving companies a way to do employee-centric management, adding "Obviously, we've got to practice what we preach."

Lattice's mission is to make work meaningful. It works with People teams across the globe to turn employees into high performers, managers into leaders, and companies into the best places to work.

As of now, more than 4,250 organizations trust Lattice, and it has more than 15,400 resources for human community members. There are about 5.55 million pieces of feedback shared.