Revolut, the fintech giant, is making waves with its new points-based performance system dubbed ‘Karma’. This tool tracks employee behaviour linked to risk and compliance, affecting their bonuses. The intent? To foster good practices while providing employees with bargaining chips in their performance reviews. But is this a step forward or a sign of managerial failure? People Management explores both sides of this debate.
Key Points
- Revolut’s ‘Karma’ system tracks employee behaviour and ties it to bonuses.
- The initiative reportedly improved company-wide compliance-related performance metrics by 25%.
- Critics argue a points-based system indicates weak managerial oversight and can damage employee morale.
- Supporters believe it brings accountability and a clearer performance measurement tool for staff behaviour.
- Transparency in how points are allocated is essential to mitigate potential negative impacts on workplace culture.
Why should I read this?
This article sheds light on an innovative yet controversial approach to performance assessment in the workplace. As companies seek to boost compliance and performance tracking, understanding the potential pitfalls and advantages of such systems is essential for anyone in management or HR. Don’t just take the plunge—know what you’re stepping into!