Revolutionize How You Assess Your Employees ft Dr. Peter Fader | Hard Corps Marketing Show | Ep 401

The Hard Corps Marketing Show

How can a peer assessment system revolutionize employee performance evaluations?

In this episode of The Hard Corps Marketing Show, Casey sits down with Dr. Peter Fader, Professor of Marketing at the Wharton School of the University of Pennsylvania and Co-Founder of Theta & Incompass Labs, to explore an innovative approach to improving employee performance evaluations. Dr. Peter Fader discusses the flaws in traditional performance measurements and introduces a new algorithm originally developed for grading student papers, now adapted for employee assessments.

Dr. Peter Fader explains how this incentive-compatible peer assessment system works, correlating evaluations with employees' own performance. Used by companies like Hostelworld, the system measures employees on various dimensions such as productivity and cultural fit, ensuring honesty and accuracy. The discussion also touches on how AI can improve qualitative assessments, detect biases, and the broader implications of Employee Lifetime Value (ELTV) for team performance.

In this episode, we cover:

• The flaws in traditional performance evaluations
• How the new peer assessment system works and its impact on employee performance
• The role of AI in reducing biases and enhancing qualitative assessments
• The concept of Employee Lifetime Value (ELTV) and its relevance to optimizing team performance

If you're looking to optimize your company's performance evaluation system and drive better results with data-driven insights, this episode is packed with actionable insights you won’t want to miss!

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Connect with Peter:

• LinkedIn: https://www.linkedin.com/in/peterfader/
• Twitter: https://twitter.com/faderp
• Theta Equity Partners: https://thetaclv.com/
• Wharton School Website: https://marketing.wharton.upenn.edu/profile/faderp/
• Customer Centricity Book: https://www.amazon.com/Customer-Centricity-Customers-Strategic-Essentials/dp/1613630166/ref=sr_1_2?keywords=Customer+Centricity%3A+Focus+on+the+Right+Customers+for+Strategic+Advantage&qid=1561730651&s=gateway&sr=8-2
• Customer Centricity Implementation Book: https://www.amazon.com/Customer-Centricity-Playbook-Implement-Strategy/dp/1613630905/ref=sr_1_1?keywords=Customer+Centricity%3A+Focus+on+the+Right+Customers+for+Strategic+Advantage&qid=1561730749&s=gateway&sr=8-1

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