FairSetup could bring an end to employees not seeing eye-to-eye with their bosses, through a new, fair method of performance evaluations.
It could also change how you get your bonus.
“Turn Employees Into Partners,” the slogan reads for the new suite that changes how you meet with your boss.
FairSetup makes it much easier for an employer to calculate how an employee is performing by measuring the expectations of both that employee, as well as their peers, and seeing if they met expectations and how much.
An employer goes into the system and records whether the employee performed satisfactorily or not, choosing from the presets Absent, Poor, Below, Slightly Below, Normal/Expected, Slightly Above, Above Expectation and Awesome.
Once the employee, peers, and boss have all done the evaluations, the employee sets his “Self Throttle,” a percentage of the assigned tasks he will be able to get done in the near future.
The performance evaluation and self throttle combine to measure the employee’s impact on the company. Impact is expected to grow as an employee becomes more adept at a new job. But that is not always the case, and FairSetup can help an employer measure that easier.
It also allows an employer to fill in a box for notes on an employee, ensuring that numbers are not doing all the work.
The FairSetup Suite comes with three modules that build upon each other to evaluate different aspects of an employee’s performance and compensation. The first is FairImpact, which does what is described above.
The second is FairPay, which takes the calculated impact of the employees and goes further, figuring out how they should be compensated through bonuses fairly.
Lastly is FairShare, which takes FairPay and calculates company performance based on the data included in the previous two modules. This allows employees to see how the company is doing and “think like partners.”
The product has yet to officially launch. For now, you can request a free trial or demo on the FairSetup website.