Source | LinkedIn : By Chip Cutter
‘Ray, you deserve a ‘D-‘ for your performance in the meeting’
Hedge fund king Ray Dalio believes people should say what they mean at work.
Have a problem with co-workers? Tell them in person. Think someone totally flubbed that presentation? Go ahead and give them a lower rating using the company’s real-time feedback app.
At Bridgewater Associates, which employs about 1,500 and operates the world’s largest hedge fund, Dalio’s ethos is known as “radical transparency.” The idea is that honesty — however brutal — makes for a more effective, meritocratic work environment, one in which the best ideas surface and rigorous debate can flourish.
This corporate culture is controversial; all meetings get recorded on video and can be reviewed by anyone internally, a practice some allege leads to an atmosphere of fear and distrust. But from the stage at the TED conference in Vancouver, Dalio said it was an idea he wanted to spread.
When TED curator Chris Anderson asked why a hedge fund titan — one seemingly looking for every advantage possible — would readily share his secrets, Dalio suggested his legacy was at stake.
“This is something that’s a win-win for everybody,” he said.
As part of his presentation, Dalio shared internal videos and emails to demonstrate how his company works. In one example, employee Jim Haskel — identified on his LinkedIn profile as a director of portfolio strategy — slams Dalio’s performance after a meeting and offers to coach him in the future.
It’s the type of note that could hardly pass in other organizations. But Dalio not only embraced this email, but shared it internally within the company and went on to show it to the more than 1,800 attendees of TED.
“Isn’t that great?” Dalio said of the email, to laughs in the crowd. “That’s great. It’s great because I need feedback like that. And it’s great because if I don’t let Jim and people like Jim express their points of view, our relationship wouldn’t be the same.”
Perhaps more interestingly, he also played a video of a company meeting and showed photos of an internal feedback tool called the Dot Collector.