Fred Wilson is an iconic venture capitalist at New York City-based Union Square Ventures (https://www.usv.com/about/fred-wilson). Union Square’s investments include Coinbase, Etsy, Flurry, Indeed, LendingClub, MongoDB, Tacoda, Tumblr, Twilio, Twitter, Zynga, and the list goes on.
In a recent post Fred exhorts companies “to have performance oriented cultures where there are frequent checkins between managers and team members, with feedback going both ways, and where non-performance results in changes. These changes could be restructuring of teams, changes in management, or departures of employees. Companies that do not actively manage performance are likely to have lower morale and toxic issues like resting and vesting” (1). Though Fred’s post was responding to a question about “golden handcuffs”, his response addresses the more significant topic of culture and accountability.
FrameWork is a simple-to-use tool that algorithmically determines the most valuable work performed by your team members. For instance, FrameWork identifies tasks that may have been relevant when your product was first released but are irrelevant now. FrameWork’s elegant mathematics are industry agnostic and work as well for the CEO and line worker of a Fortune 200 semiconductor manufacturer as the CEO and line worker of an SMB plating company.
As your team updates FrameWork, the tool continually identifies the work of greatest value encouraging the next cycle of innovative initiatives with a concomitant increase of discussions between manager and the team. Inherently, engagement increases within the team and throughout the layers of the enterprise. The value of FrameWork is observed in this virtuous cycle of employee engagement, productivity, and personal achievement.
High performance/high valuation Silicon Valley companies such as Google and Pinterest have internally and independently developed dashboards similar to FrameWork. FrameWork is the commercially-available tool that facilitates performance oriented cultures.