JoMI uses FairSetup

Journal of Medical Insight (http://www.jomi.com) has recently soft-launched.  We’re proud to say that JoMI is one of the companies that uses FairSetup for both operational management and to drive compensation.

JoMI is a particularly interesting case due to use of FairSetup at the inception of the company to set up a dynamic equity model, where all employees are partners and the angel investor’s investment is treated in a manner that is similar to partners’ efforts.

We are looking to seeing how JoMI goes, but are excited to the less-trivial equity (as compared to bonus-only-model) in action.

Case: Addressing Long-Cycle Appraisals

image Addressing Long-Cycle Appraisals is a case of a medium size insurance company, which deployed FairSetup to work in tandem with an existing long-cycle appraisal process.

Deployment consisted of three stages – a pilot, followed by gradual adoption across multiple teams, followed by company-wide adoption.

The outcomes included an increases in productivity, culture, and employee engagement.

Read more about it here.

HBR Blog: Case of Performance-based Compensation at a Restaurant

Our Summary: A post on HBR covers a case where performance-based compensation was deployed at a restaurant.  The system tracks waitstaff performance in terms of customer sales and tips.  It then adjusts scheduling to reward top performers.

This deployment is considered a success with a 2-3% increase in revenues.

Get Employees to Compete Against Each Other
by Serguei Netessine and Valery Yakubovich

By using technology to create a form of the leaderboard typical in sales organizations, innovative firms are infusing their workplaces with competitive spirit. Both companies and high-performing employees stand to gain. We call these firms “winners take all” organizations.

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