Written by 19:20 Tech News Views: [tptn_views]

5 Unconventional Policies Unwrapped: Inside SpaceX’s Stock Awards Scheme

Is your heart racing with ambition to be a part of Elon Musk’s interstellar dreams? Hold your breath for a moment, as we reveal some quirky, less-familiar aspects of being a part of SpaceX – based on inside sources and internal documents viewed by TechCrunch.

1. The Open-Ended Employment Term

SpaceX employees do not have a finite employment contract. This may seem unusual, but it keeps the possibility of unanticipated layoffs vague. It’s a double-edged sword – while it offers employees an open-ended career at SpaceX, the threat of getting let go anytime also looms large.

2. Six Month Shockwave

When an employee decides to leave SpaceX, things get a tad bit trickier. In an unconventional twist, SpaceX has the rights to all vested stock within six months of an employee’s departure. This not only impacts the individual’s immediate finances but also shakes up their post-SpaceX planning to a great extent.

3. A Unique Stock Award System

The stock awards SpaceX trots out are not your run-of-the-mill company shares options. This unique arrangement works in such a way that SpaceX can retain right over vested stock for a framed time after an employee leaves. It’s a quirkier spin on a standard scheme, one that keeps employees on their toes.

4. Creative Employee Retention

The uncanny stock purchase provision may appear as a means of dissuading employees from parting ways with SpaceX. It emanates a chilling effect that keeps the staff aligned with the company – a clever, if unconventional, tactic to retain talent for longer periods.

5. A Cautious Approach to Staff Attrition

The unusual terms related to stock awards reflect SpaceX’s cautious approach towards handling staff attrition. The conditions effectively apply a brake petal to high employee turnover, stabilizing the company’s internal functioning and, potentially, safeguarding its secrets.

There you have it, the whys and hows of SpaceX’s unconventional employee-retention strategy. The thrill of voyaging through space and being on the edge of mind-bending technology might be enough to entice many. However, it’s essential to consider these ingenious (and perhaps slightly eerie) terms before signing up to be a part of SpaceX’s ambitious goals.

Credit: BBC. TechCrunch, Reuters