A former Tesla CFO is one of a handful of investors that ponied up $16.5M for a company called Jolly.
Jolly bills itself as a workforce optimization platform. I had absolutely no idea what that meant when I first read it. You know. Because I’m not 25, and I grew up in a world where I didn’t need an app to guide me in every aspect of my life. It’s hard to believe I actually survived!
In any event, I checked it out. And I have to say, much in the way my grandfather struggled with understanding how to use his AOL email account, I’m struggling to understand this thing.
I sifted through the company’s website. I also took a minute to read a recent press release about this latest raise for Jolly.
Here’s a segment of that press release …
Historically, companies have struggled to align the motivation of frontline employees with the interests of business executives in a way that benefits both the employee and employer. With deskless employee satisfaction at an all-time low and advanced technology threatening disruption, it is more important than ever for executives to align employee interests with company goals.
Similar to earning Miles on airlines or Cashback on a credit card, Jolly gives employees an opportunity to Earn Points at Work™. The platform incentivizes actions that are value-accretive to the business such as picking up extra shifts or showing up on time. Incentives are fully customizable while points are dispatched autonomously based on objective work data. Ultimately, the points can be used on gift cards or other high-value items.
I know these deep-pocketed investors that handed over $16.5 million to get an early piece of this thing are smarter than me. And I’m sure they’ll probably make a tidy little profit. Hell, the whole thing could be a huge money maker. But it still seems so absurd to me. An app to incentivize workers?
Does the former Tesla CFO know that …
This has never been rocket science?
It’s actually quite simple.
Employers that get the most out of their employees and keep retention rates high do three simple things …
- Pay well
- Offer valuable retirement and health benefits
- Treat their employees with respect
I’m fortunate in that I work for a company that provides all of these things. So I can’t even imagine what it’s like to work for a company that would suggest I sign up for an app to get the occasional Starbucks gift card or “high-value item” for doing my job.
I also think it’s bizarre that the press release includes this …
The platform incentivizes actions that are value-accretive to the business such as picking up extra shifts or showing up on time.
So employers are now expected to reward employees for showing up on time? What the hell is that?!!
It’s weird, but it seems like every day there’s some new tool or app designed to increase efficiency and help us become more productive. I’d be curious to know how many of them actually work.
I don’t know. I guess I’m just the “old guy” now. But the best way to reward employees, in my opinion, is to pay them well and treat them right. Two things that don’t require a “workforce optimization platform” app.
