FairSetup works very well for groups of interns. Put together a team, set up goals, allocate bonus pools linked to outcomes, run the team using FairSetup, and, once outcome thresholds are reached, release payment according to everyone’s impact. But one question that we get from companies is: can interns work for free?
Our Summary: Companies are radically changing their performance appraisal processes moving away from annual long-cycle appraisals towards short-cycle ongoing workflows. Annual reviews are an artifact of the past – they cause significant problems and the industry is evolving. Many are hesitant to embrace change, and the article offers some guidance, which is primarily focused on employee/goal-centric view with regular feedback loops.
Our opinion: we agree and consider ourselves to one of the pioneers in short-cycle live-360 appraisal process systems. Continue reading →
The author goes to an Asian city and tries to get on the bus. The bus keeps passing by. Why? Because the bus driver’s bonus is connected to being on time, not servicing customers, resulting in a behavior that is opposite to that which would be optimal. This model is the focus of the article. Conclusion: be careful about identifying what’s important and how you drive participation. Continue reading →
I was recently introduced to the concept of ROWE (www.gorowe.com) – a concept pioneered at Best Buy by Cali Ressler and Jodi Thompson. The idea is pretty simple – don’t pay people to for the hours they spend, but for the results they produce. The site is a bit limited on the details, but they did impress the white house enough to get a pilot going and now it looks like it’s seeing a wider adoption. The idea of ROWE is not new, but there are a lot of different flavors of how it is deployed and the management process that accompanies it.
An amazing talk by Daniel Pink that goes for the very heart and soul of FairSetup: that money is a foundation, not the driver. This is one of the most important things about what we are doing at FairSetup – our approach is not actually about money. It is about perception of fair – about removing that question from people’s minds so that hey can concentrate on what is important to them: mastery, autonomy, and purpose.