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.
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.
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.