How to Run a Company Where the Best Ideas Win
Whilst the HR community tackle common workforce issues such as attraction, attrition, performance and engagement, some in the business world are beginning to talk about and embrace fundamental changes to the way we run business – think “zero rules”, the liberated company, bots, AI and now radical transparency and algorithmic decision-making. What was that??? These forward-thinking ideas are ones that some of my HR colleagues might run a mile from – but listening to Ray Dalio, founder and CIO of Bridgewater Associates, explain how “radical transparency and algorithmic decision-making” have helped him to build a successful business, we at HRCubed have started to ponder how HR can embrace some of this new thinking and encourage our organisations to do the same.
Dalio states his personal objective as having meaningful work and meaningful relationships with people he works with. How he has accomplished this over 25 years by using radical transparency and algorithmic decision-making is fascinating. Radical transparency, Dalio says, is about people having the space and authority to say what they really think and what they really believe in, no holds barred. But the beauty is in combining opinions and allowing people to see in 3 dimensions – Feeding this information into algorithms then helps his people to not only make better decisions but allows the organisation to offer career progression, mentoring and development that complements their thinking and attitudes and matches their strengths.
This, he says, is what has made his organisation the most successful hedge fund in existence. To read more follow this link. To gain an insight into how he did this watch his Ted Talk here: