It’s no secret that retaining employees is significantly less expensive than hiring new talent. But how do you keep them engaged, connected, and motivated in today’s ever-changing and unpredictable workplace? Well, that is a bit of a challenge.
Adina Eckstein, COO at Lemonade, a unicorn tech insurance company, walked us through the delicate art of keeping people engaged.
She shared with us Lemonade’s unique organizational structure of squads, tribes, and companies, which was designed to make employees feel empowered and motivated.
But, they also have an interesting system of checks and balances. For example, once a branch becomes too big they’ll divide it into smaller teams since intimacy is the name of the game. She gave examples of how this structure helps keep every person at Lemonade feel connected to the company at large and to their own specific goals as they grow from X to Y within Z years.
In addition, she shared her unique view on the role of the COO – to oversee the scaling process of the company and work closely with the CEO to understand the optimal structure and processes required to support the company’s goal while achieving high productivity and instilling the company’s culture.
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Adina Eckstein has served as Lemonade’s Chief Operating Officer (COO) since July 2021, and previously was the company’s Vice President of Operations. Prior to joining Lemonade, Ms. Eckstein served as COO of Digital Channels at HSBC, where she helped bring one of the world’s largest financial institutions into the digital age. Previously, Ms. Eckstein was Vice President of Programme and Portfolio at BBC Worldwide, where she led the development and operations of all consumer digital technology. From 2008-to 2014, she served in VP Product Delivery and VP Sales roles and was a founding team member at Tvinci, a technology start-up company. She holds a Master of Business Administration from Tel Aviv University.