Do you know about any company that shares the every bit of information about it with its employees. And mind it; some of these information are really sensitive in nature. It may be daily sales data, company’s financials, and even it shares the salary details of every employee.
It sounds unimaginable, but true. But that’s how the Jet, the rising e-commerce startup functions.
Imagine if the company you worked for just laid it all out there — daily sales information, presentations meant for the board of directors, and even the salaries of every employee. The company has raised more than half a billion dollar recently.
That’s how it is at JetStream, the buzzy e-commerce startup that has raised more than a half billion dollars.
Not only that, it shares total sales, average order size and number of visitors on the site on that particular day and how the company is going to achieve its goal. It even shows some of the information to its visitors and guests.
This is pretty strange for a privately held company. However, company does not think so, “It’s open kimono,” Jet’s CEO Mark Lore. He wants to convey their people that it trusts them. “I’m just a big believer in empowering people with information,” Lore said.
It believes that such a high level of transparency gives people a sense of ownership. Company gives every employee shareholding and not bonus. It has a limited number of employees and so the bonding is quite strong.