I meant to write this post several years back. I was so excited that I didn’t want anything to go wrong in this. But, since I waited for few years I became wiser. I came to realise that ownership alone doesn’t motivate everyone. But, then in my thoughts I modified this to a hybrid between traditional and this organization model – hybrid because small groups can still be in traditional organisation models but roll up into this organisation model. Here it goes –
How do you make your employees feel so engaged that they work in it as as if they own the business?
How do you give the freedom of a gig in an aggregation business like Uber while still giving good access to shared resources for collective benefit?
These were the thoughts going through me when I was young intern long back. I am sure human resources leaders are continuously exploring various models for this. Here I explore something from a technology angle – because as they say every business is a technology business, right?
Enter the Distributed Autonomous Organisation … Yes, organisation can autonomous and wouldn’t need the aggregator/escalation roles in a business because everything is a smart contract. Even strategy could be grounds up based on how you define strategy. But, how do you make sure everyone in this DAO is feeling like an owner?
I think the secret lies in aligning individuals (or small groups) to a direct feedback mechanism based on KPIs in smart contracts – this feedback doesn’t have to be monetory feedback alone but also other motivational factors – because as I noted at the first para, not everyone is motivated in the same way. Notice I didn’t mention inderdct feedback – that’s because if there are individually who work better on indirect, softened feedback, they better be in a small group where the ‘owner’ is doing the job of softening the feedback. Having direct feedback loops are important to keep an organisation in meaningful engagement.
Feedback as I mentioned above doesn’t have to be monetory. What kind of activities do we give non-monetory feedback? I think activities were there are shared assets involved, we should bring in non-monetory feedback with or without monetory feedback. This is because not all activity based calculations on a shared assets can be accurate because of the varied quality of contributions to the shared asset.
This model will have to be discussed and tested. Just shared my thoughts here.