Bitcoin

Worldcoin

<a href="https://bitcoinworld.co.in/jack-dorsey-announces-new-approach-to-performance-management-names-a-new-cto/" title="Jack Dorsey Announces New Approach To Performance Management, Names A New CTO" rel="noopener noreferrer nofollow"></a>
In his quest to transform the company’s culture, Jack Dorsey, Block Inc. CEO, has announced a new approach to performance management and also named a new Chief Technology Officer.
The company has decided to scrap the annual performance reviews and performance improvement plans (PIPs).
Jack Dorsey relayed his aim to foster a “culture of excellence” at Block Inc. in a staff memo, Business Insider <a href="https://www.businessinsider.com/jack-dorsey-ending-pips-at-block-names-new-cto-2023-11" rel="noopener noreferrer nofollow">reported.</a> The company will halt its tradition of annual performance assessments for workers following the forthcoming review round.
Dorsey has also designated Dhanji Prasanna, a Block veteran and the firm’s chief scientist, as the new CTO. This move comes on the heels of Dorsey’s announcement of an impending 10% workforce reduction in the next few months.
See Also: <a class="row-title" href="https://bitcoinworld.co.in/sam-altman-continues-with-worldcoin-as-wld-reacts-positively/" aria-label="“Sam Altman Continues With Worldcoin As WLD Reacts Positively” (Edit)" rel="noopener noreferrer nofollow">Sam Altman Continues With Worldcoin As WLD Reacts Positively</a>
Regular employee evaluations will supplant annual reviews, targeting the elimination of the notion that Block permits its workforce to “‘rest and vest’ throughout the company,” according to Dorsey.&nbsp;
Staff failing to meet expectations may be let go immediately, sidestepping formal feedback or performance improvement strategies.
Starting next year, Block will implement performance ratings of “meet, exceed, or fall below”, and every employee will have access to their rating. Jack Dorsey believes this will ensure “a fair two-way conversation holding each of us accountable to always raising the bar.”
These changes come at a time when Block has been performing exceptionally well in the market. The company saw a 37.5% growth in Bitcoin revenue to $2.42 billion from the previous year, as well as a gross profit of $44 million derived from Bitcoin in Q3.&nbsp;
This exceptional performance was followed by a significant surge in the company’s share price.
The post <a href="https://bitcoinworld.co.in/jack-dorsey-announces-new-approach-to-performance-management-names-a-new-cto/" rel="noopener noreferrer nofollow">Jack Dorsey Announces New Approach To Performance Management, Names A New CTO</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Jack Dorsey Announces New Approach To Performance Management, Names A New CTO

ItsBitcoinWorld

Other articles published on Nov 22, 2023

Meme Moguls (MGLS) Meme Platform Gains Momentum as Bitcoin (BTC) Approaches $100K

Breaking News: Sam Altman to Make a Comeback as CEO of OpenAI

GCEX Receives Operational VASP Licence from Dubai’s Virtual Assets Regulatory Authority

Binance’s Changpeng Zhao says he ‘will survive’ in internal memo

Binance Settles With U.S. Authorities, Agrees to Pay $4.3 Billion Penalty as CEO Faces Potential ...

Diablo IV Free Trial Now Available on Steam

Join our free newsletter for daily crypto updates!