March 2, 2012 at 4:29pm
The idea is to create a transparent value ecosystem, where organizational values (openess, innovation etc') get a numeric value (points) that can be exchnaged between all steakholders, then simply give innovation points to all steakholders, and let everyone trade. The owner of each value (is this case organization) will define how these points tranhslates into long term benefits or exchnaged into other values, for example challenges with prizes of the person that got the most amount of points etc'.
The problem in every company (and capitalism as a whole) is the fact that compensation is very one dimensional into monetary value. Eventually people get paid in money, and that's the only thing they can count. The diamonds industry significantly more advanced than any other stone industry, since diamonds can be measured and compared, therefore priced and echangable with money. I suggest the real problem with current capitalism is the lack of measurable point/currency system for values, that since you can't pay for generosity you can't measure it.
Following the statement "Only what is measurable is managabble" , the solution is creating transparent point marketplace that are tradable and exchangable for values an organization wants to promote.
For example, if an organization want to promote openess as a value, it can give 1000 openess points to all employees, and a link to a webpage where you can give a service for X amount of openess points, or simply give someone else openess points for something he did, or select from the list of services other employees are offering.
The target is to get as many points as you can, and the winners will be given prizes and presented on their achievements to the company. The key here is that the marketplace is transparent, so people must say what they are giving the points about, so that creates actual benchmarking how much anything is worth in the marketplace, and give idea's how you can promote openess. An openess "feed" would then look something like this :
- David gave John 100 openess points for "delivering a great presentation on a subject i didn't know"
- Jessica gave Miriam 50 points for "giving her open feedback"
- Tom offered to help write weekly updates for anyone for 25 points
This gradually will synch people with what openess is about and how to pormote it.
As a more advanced stage, also trading between value could be developed, so you could be very good in one value like collaboration, and translate it to openess points so you can "buy" more help from your peers.
Badges and challenges, are also great idea's to add to any point system, to promote the right track by the organization.
High engagement with the company values.
Bottom up definition of what the values mean to steakholders through transparency.
Great incentive controls for the what the company is promoting
Build the software to easily define points system and marketplace for them.
On a higher value points can be shared between organization as well, and that will create even more monetary and long term values for them.