FairSetup is a flexible tool, which can be applied to a variety of circumstances.  At its core, FairSetup provides the following benefits:

  • a performance evaluation process that everyone likes loves
  • team alignment
  • regular feedback that:
    • creates an ongoing record of performance
    • is collaborative & peer-based
    • eliminates high-stake situations
    • drives rapid behavior adjustment
  • Expect increases in:
    • productivity
    • autonomy
    • transparency
    • accountability
  • Create:
    • clarity of relationship between performance, impact, and bonus compensation
  • No overhead:
    • simple web-based interface
    • no long meetings
    • easy to test and see results
    • supports/integrates with existing performance management

When deployed in the larger companies, it has the following benefits:

  • Solve problems associated with long-cycle appraisals:
    • People remember only the last 2 weeks when performing assessments
    • Hard to get peer feedback
    • Hard to get managers to give tough feedback
    • Disconnect between performance and compensation

Employees…

  • … love the performance appraisal process
  • … feel and work like partners
  • … become more autonomous
  • … have vesting and divesting
  • … engage in collaborative performance management/team calibration
  • … have control over work intensity through self-throttling
  • … manage and push each other to improve net outcome
  • … do not tolerate slackers
  • … accept and help deal with hard times
  • … understand the connection between performance and compensation

Employers…

  • … introduces team-based dynamics
  • … sees improved short-term cash flows
  • … engages in easy/quick performance evaluations
  • … improve retention
  • … improve succession planning

Investors …

  • … solve the agency problem
  • … amplify deployment of capital ($1MM can work like $1.7MM)
  • … reduce risk of failure
  • … reduce probability of dilution

General Benefits include …

  • … system allows for transient talent
  • … allows employees to put skin in the game

Recommended Further Reading

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