Entrepreneur Mag: A deep dive into the ups and downs of building a tech startup in uncertain times

Entrepreneur Mag: A deep dive into the ups and downs of building a tech startup in uncertain times

Swae: A roller coaster ride

A deep dive into the ups and downs of building a tech start-up in uncertain times.

10 min read, 7 April 2022

Entrepreneur Middle East April 2022 issue is here featuring Swae CEO & Founder @soushiant‘s story of building Swae duding uncertain times [read ‘global pandemic] as well as enforced work, from home, team building and a host of other issues. Nobody ever said it would be easy, but every cloud has a silver lining and the Swae team is more dedicated than ever to help make the workplace more inclusive and help decisions beceom more democratic. 

The issue is headlined by @Mhdgroupoman‘s @mohsinhani and also features @Amazon‘s Paul Misener, @FarEye‘s @kushalnahata, and the winners of@MastercardMEA‘s #WomenSMELeaders Awards 2022. 

You can read the magazine here, read the virtual magazine below or keep scolling for the full text:

Back in 2019, I shared with Entrepreneur Middle East my company Swae’s founding story, and our big vision of the need to upgrade the decision-making process for organizations and government  institutions, so that they become more compatible to the needs of the future, as well as the direction the world was headed in. 

In it we shared a common trend we saw across many types of organizations – that most people feel they lack voice and cant influence the major decisions made inside the organizations they belong to. This is often the consequence of closed cultures, outdated structures, or an over reliance on a top-down decision-making process. As a consequence, many are disengaged and the impact on the organizations is very visible – 3x higher disengagement rates, 3x higher absenteeism rates, and 34% lower productivity rates per employee on average.  Thankfully, though slowly, this trend is leading many decision makers to come to terms with their structural or cultural shortcomings and begin reconsidering how they include others in decision-making processes or shift culture to be more inclusive.

“Today’s most consequential institutions (governments, corporations, city councils) make their most important decisions through hierarchical processes. They interpret stakeholders’ preferences through periodic surveys or consultations, and leverage representatives to filter information up and down the hierarchy, precluding regular, meaningful, and unfiltered participation of most stakeholders into the process. But, our ever-advancing communication technologies are challenging this outdated proces, enabling direct and instantaneous communication, allowing for efficient access to distributed intelligence, and even helping create the first ever distributed organizations.” 

Over this period, Swae began carving out its niche and penetrating the market. The platform amassed close to 40,000 users from clients all over the globe, including some of the world’s top organizations such as the United Nations, the governments of Mexico and Chile, blue chip corporations such as Bosch, Etihad Airways, LifeLabs, and EMC Insurance. After winning the New Shape Prize, and securing a $750K CAD non-dilutive grant, 20 months later we were able to successfully fundraise an additional $750K CAD seed round – a 50% increase from the initial $500K offer – led by the former head of Engineering at Netflix and other notable investors, and, we even had time to produce a swanky new explainer video showing how Swae works to condense the technological concept and narrative down into something digestible and fun for all audiences.

But since publishing the article in 2019, no one really could predict there would be a global pandemic that would turn every assumption all of us had on its head. From the unique lens of Swae, the pandemic was a positive forcing function – the challenges that organizations face only accelerated and came to the forefront. There was no more hiding them between the natural cracks an organization faces during growth. They became prominent issues to solve for today. 

THANKFULLY (THOUGH SLOWLY), THIS TREND IS CAUSING MANY LEADERS TO COME TO TERMS WITH THEIR STRUCTURAL OR CULTURAL SHORTCOMINGS, AND BEGIN RECONSIDERING HOW THEY INCLUDE OTHERS IN DECISION-MAKING PROCESSES, SHIFTING COMPANY CULTURES TO BE MORE INCLUSIVE.

 

Thanks to Covid 19 and the ensuing the market volatilities and revamped nature of work, the need for such a wake up, to create an environment of psychological safety and inclusion, to create a system that helps organizations listen at scale, to hear as many voices as possible (instead of the loudest or most powerful few at the top), to source creative solutions to new problems and enable good ideas with meaningful action, is more important today than ever before.

“In today’s era, there really is no excuse for organizations and leaders not to leverage the available but untapped collective intelligence that resides within them. We have the technology to do this efficiently, research shows that crowdsourcing reveals high enough quality of solutions to problems to be worthwhile, and modern culture has progressed enough so people expect this level of transparency and inclusion in the decision making process, especially decisions that have a big impact on their lives. Leaders and organizations that fail to listen and update their processes to meet the world where it is and where it’s headed will be left behind. No one wants a part of the outdated reality they have to offer.” says Soushiant Zanganehpour, founder and CEO of Swae

 But the Covid-19 pandemic did not discriminate between organizational types. Swae nearly went under. 

Covid-19 & its Impact on all Organizations 

As it generally goes, building a tech startup or any startup for that matter is indeed a roller coaster ride. Building a tech startup during a global pandemic brought a level of challenge I had never faced in my life before.  At the outset of Covid-19, Swae was thrown into a number of crises, and had to overcome many headwinds to adapt itself to the new reality.  We’ve had a lot of learnings since our 2019 launch. The challenges that hit when 2020 came all centered around planning and maneuvering through massive uncertainty – uncertainty about what our clients were going through and if they had the available budgets to invest in our solution; uncertainty about where funding would come from and how to fundraise without in-person roadshow and meetings; uncertainty about the impact of the pandemic on recruiting global talent and team formation; and uncertainty about how to grow a team and instill the right culture while being entirely remote! 

“Since 2019, the landscape and market we’ve entered has changed in ways that I couldn’t have predicted. Covid-19 came and hit everyone like a wrecking ball; the workplace instantly became remote, and decision-making, team collaboration, and innovation (the things that Swae does) are now far more complex and fragmented than we ever imagined before. The toll the pandemic has had on people on all levels means what we do for employees (and leaders) is so much more profound.  This shift certainly forced us to re-evaluate and reinvent how we support organizations, and we’re far stronger for it.

Initially we resisted the changes thrown unto us but learned quickly not to fight them. We reminded ourselves that we aren’t the only company that was massively affected during these highly unstable times, and it ended up being an opportunity for us to get really clear on what we’re doing and how to overcome big hurdles as a team. Embracing the uncertainty helped us find solutions and come a long way. 

Top 5 Challenges Faced and Lessons Learned

 From all the ups and downs we went through resulting from Covid-19, to some early learning moments predating Covid, here are the top 5 challenges we endured since launching Swae, how we overcame them, and what we learned about about hiring, team formation, strategy, as well as ways to enhance the technology.

Losing Anchor client at the outset of the Pandemic

At the outset of Covid 19, we lost our first and largest paying customer, Etihad Airlines. When the wrecking ball of Covid came crashing in, the impact on global airlines was swift, immediate, and painful. Etihad saw an 80% reduction in sales and canceled all major enterprise contracts to reduce their bleed, including ours. 

Our entire pipeline of enterprise deals also went up into thin air as well. Covid-19 indefinitely delayed the start of many projected client projects and or made the business case challenging to argue for. 

Mitigation & Lessons Learned

To respond, we quickly turned on a dime to minimize our burn rate and preserve cash flow. To replenish our lost projected cash flows, we began applying for grants and thinking of new markets for our product. We eventually leveraged government support and grants to help us recover 40% of the lost revenue to manage through this period of uncertainty.  

Knowing we weren’t the only ones facing difficult times, we understood that many organizations and local governments were struggling to adapt to virtual, all-digital, decision-making during this prolonged period of uncertainty. We came together and began brainstorming more immediate and shorter use cases of Swae. From listening to clients, we learned that people could use Swae to manage remote annual general meetings and even use it to crowdsource content and agendas for virtual meetings and events. We felt there was a way to adapt our core product to be more nimble to launch and easier to configure, to help others while allowing us to earn short term revenue.  Two months after losing Etihad, in May 2020, we launched three complementary products to enable teams to make collective decisions over the internet quickly, conveniently, and safely. These include: 1) Swae for digital annual general meetings, 2) Swae for digital policy making and governance 3) Swae for remote team decision-making.

Losing Anchor funders at the beginning of the pandemic 

In January 2020, we launched a $500K seed round and quickly closed the first $150K. As shared above, in February 2020, we also closed our first 6-figure annual commercial contract with Etihad Airways, after a year long pilot of our platform inside their organization. The year was off to a great start, so we thought. With enough investment closed and expected revenues from our first $ARR contract (as well as a pipeline of $500K-$1M worth of enterprise deals), we decided to pause our fundraise and instead focus on going to market with our product. Anyone who has built an early stage startup knows that fundraising is a very intense and distracting process, and we thought the time would be better spent closing new deals. Hindsight is 2020 (no pun intended)… When you have momentum, never stop! That was our biggest mistake. After we paused our round, in March, everything changed. Etihad canceled the contract and our entire pipeline of enterprise deals also disappeared, thanks to Covid. Now, with no anchor deal, and no pipeline of deals, how easy do you think it was to raise funds?  When we tried to revive the fundraise two committed anchor investors immediately retracted their commitments to invest due to the impact of Covid on their portfolios, general cash availability, and the grim future that presented itself. 

Their cancelled commitments combined with the comical series of other debacles SIGNIFICANTLY changed our cash flow projections and reality.  One day, we were projecting more money than we needed, the other day we could barely fund ourselves.  It was a vicious circle that would not cease. Without any new confirmed investment or revenues, we were projecting an end date of Swae for December 31, 2020. 

Mitigations

With a clear end date in site, we knew we had to prolong our burn rate as long as possible. So we came together as a team and decided to restructure and opt to reduce our salaries as a last ditch attempt to save the company. Each of us came to the table with an open mind and depending on our individual situations, each offered to give up some portion of their salary they derived from Swae.  The minimum amount reduced was 30% and most offered to give up 100% of their salaries.  Instead of salary, the team would earn what they had sacrificed in equity with a sizeable risk premium and bonus. That seemed fair. 

 I took the first heavy paycut, then all other part-time contractors voluntarily contributed their entire salaries to Swae in exchange for equity. Finally, the leadership at our outsourced tech team bravely offered to contribute some engineers to our cause without pay for a long enough period to help us with ongoing client implementations and progress against our roadmap. This experience was a transformational and cathartic moment for us as a team. During a global pandemic, amidst all the uncertainties surrounding our individual lives, the team came together and collectively decided to do whatever we all could to keep the mission and dream of Swae alive. That experience brought everyone together in ways that superficial team building exercises simply don’t. When faced with crisis, the team stepped up. Until this day that moment acts as an an enormous source of mutual trust and kinship – like a binding agent between all of us. It’s cemented part of our culture that we simply don’t give up when we face adversity, and instead we come together to look for solutions. That crisis gave us a resounding amount of  confidence to face the future, whatever it presents. 

The internal restructuring allowed us to extend our runway by an additional 9 months, allowing us to get to the other end of 2020 and successfully enter 2021. During these turbulent months, a silver lining emerged. Investors stopped seeing Covid-19 as a massive interruption and began seeing the long term implications of it on the future of work and society. Instantly, many began to see Swae as a potential source of solutions for the new complexities of working remotely during a pandemic. The explosion and irreversible long term impacts of Remote Working, the accelerated adoption of digital tools, and new challenges associated with collaboration, maintaining engagement, and decision-making increased the projected market size and opportunity for remote collaboration tools from $18b to $60b (almost a 4x increase) from 2021-2024. This new framing of the needs of the future workplace began changing Swae’s market perception and only increased interest in Swae. 

After a few short months, we were able to land our lead investor, Mr. William Eisenman, the former CTO and Head of Engineering of Netflix, and were able to finish raising our seed round and it was oversubscribed. 

Parting ways with two different CTOs and still building a great product

We went through two (yes, two!) CTOs but still built the platform without that leadership position filled. Here’s the backstory: when Swae initially launched, I bootstrapped the company from my savings and we didn’t have a CTO. We used the limited resources we had and our intimate knowledge of the problem to outsource the build out of a prototype (the team that did it is the team we still work with to this day). At that time, our needs were basic. 

After winning the New Shape Prize, getting a $750K non-dilutive injection of cash and some validation, we were ready to expand the team.  We began recruiting for a CTO, searching for a strong technical lead, full stack developer, and AI programmer with expertise in Natural Language Processing to assume the responsibility of shaping our product, prototyping new features, building beautiful, consistent, scalable and intuitive software, and leading our AI development. 

We received over 400+ applicants, and successfully hired a former Amazon Alexa Natural Language Generation Team Member, a Full Stack Developer + Architect (Natural Language Processing and Generation specialist), as our new CTO. 

Unfortunately, after working with this individual for a short 7 week period, things did not work out as we had imagined.  He was brilliant but the interpersonal fit was quite off.  Our working styles and expectations about how to manage Swae became more incompatible over his short tenure. 

Fast forward 6 months after his departure, we were able to find a more suitable CTO with the right balance of interpersonal, leadership and technical skills to be a better fit for what we needed. She helped improve the product and launched the newest version of Swae. Though she was with Swae for nearly 2 years, in May 2021, she also parted ways due largely to strong differences in opinion about the responsibilities and trade-offs of being a co-founder, the overall product experience, and the company’s direction. 

Mitigations: 

When we were recruiting for either CTO, we identified some red flags and the potential for some of the behaviors we saw later in the working relationship to arise, but we decided as a team to be practical – that we would try to manage these concerns as they came up. Truth was that we thought we really needed a CTO with the skill set they had to accomplish the technological goals we had in mind with the product, and we thought there skill set was a priority than fit. This was a costly mistake – something we will not repeat when our gut is telling us not to go ahead. 

Though exhausting and expensive, we learned very valuable lessons in both cases about how to pick the people we want to work with. Moving forward, we only make hiring decisions if the gut feels right, and won’t compromise that intuitive feeling on being “sensible”. We will never make the same compromises we did previously because they are unsustainable.

Initially we panicked about the fact that we couldn’t build a tech platform without a strong technical lead. The experience of going through two CTOs and having to launch a product without them proved we were wrong. We realized instead that we could distribute the tasks of the CTO into the existing roles we had amongst our team. Distribution of responsibility, combined with strong spring defining, demo, and quality assurance processes meant we were able to develop new features and iterate the product consistently and affordably without needing to rely on a figure head. 

With hindsight we also realized we were too early to need the skill set and seniority of a CTO, and instead could make similar progress with a strong senior developer instead. Adding the layer of CTO would only be relevant after a few more years of traction and progress of the product. 

Without a CTO, the engineering process and team did not fall by the way side. The team stepped up on both ends (in Vancouver, and India), to ensure things remain on track, features are released under the expected conditions, and the platform relaunch timelines are met. To make up for the gap, we have instituted new processes and meetings that include more critical roles (like weekly demos by the engineering team, priority setting meetings that include design, product and engineering together, etc.)

Not having a CTO also allowed us to save a significant amount in monthly recurring salaries and expenses, to help prolong our burn rate. 

At the moment, we don’t have a CTO. We decided that our ‘departments’ would be headless as we realized that we didn’t need a multi-layered C-level or VP-level role in every department of our startup. When everybody has a voice and everyone is equally accountable, this becomes the bottom-up way (or “Swae way”)  to drive all the important aspects from marketing, sales, product development, and customer success and improvement. We’re doing some radical things and practicing what we preach. 

“Ultimately, what we decided is that everyone has autonomy but everyone owns unique directives. Often things come back to me because the ultimate vision of any organization has to be driven by the core person(s) and I’ve been thinking about Swae and what it can be in this world for a much longer time than anyone else on the team. This has worked really well thus far and makes us much more responsive so we truly are practicing what we preach,” says Zanganehpour. 

Lacking Essentials for Strategy and Go-to-Market: 

As is typical in a startup’s initial launch phase, often there’s a lack of clarity in some key areas around marketing and sales. We had a bit of a rough start when we realized that we didn’t have some key strategic details fully fleshed out. Since Swae had so many use cases and was an organization and use case agnostic tool, we didn’t have a rigid and well defined understanding of who our ideal customer and archetype was. This lead us down the path of being everything to everyone initially, which is a perfect recipe for failure. 

Mitigations:

Realizing this was a flawed approach, we invested time in gathering information and conducting research to create archetypes (or personas) of who we serve – this was critical to success. Once the archetypes were in place we began learning what objections people had to saying yes or no, and redesigned our pitch to address those upfront before we face long sales cycles that go nowhere real fast. Not having that sound structure led us to realize it was necessary to deeply understand the people that we need to connect with, and understand how to work through the objections. We’re making these powerful changes for our sales and marketing output to help us make a larger impact overall. 

  1. Fundraising and Hiring Remotely: Fundraising without face to face meetings was much more challenging than anticipated, as was building a team totally remotely. When face to face interactions became undoable, we had to get to the core of creating important systems and building structures to support this effort. As most know, video conferencing is laborious and taxing as well.  Anything else here?

    “Even with these challenges, we were able to fundraise $750K CAD seed funding round – a 50% increase from the initial $500K offer from some notable investors and we’ve got the financial runway to build a MVP of our platform and really move forward in a more progressive manner. And we’ve been able to grow a solid team that is now in place as of 2022, even though we had retracted twice since 2019 given market challenges and global uncertainties due to the pandemic,” says Zanganehpour. 

The Future of Swae and the Creation of More Inclusive Bottom-Up Organizational Models

2022 Milestones for Swae 

With these great lessons behind us and more important insights to face head on, over the next year we expect: 

  • To grow revenues to $1M+ ARR
  • To double our team from 8 to 16 people 
  • To grow the platform user base from 40K to 100K+ users 
  • To add significant features to the core platform including Chats, Polls, and Brainstorms
  • To add to proprietary features to our existing AI algorithms, including bias detection and evidence suggestion features 
  • To add important integrations such as MS teams, Slack, and other collaboration platforms.
  • To launch a second product based on the core feature set tailored more to use cases in Web3, DAOs and participatory governance in Crypto projects
  • To partner with some smart cities to launch citizen engagement, bottom-up and participatory policy making initiatives 
  • And many more…

At the core, Swae’s mission stayed the same; to give everyone an equal voice in raising solutions and shaping decisions, allowing organizations (even government systems) to uncover and benefit from the untapped collective intelligence from within, through a robust and innovative idea management and bottom-up decision-making platform. 

The sheer pace of adaptation to change that’s required of organizations today thanks to Covid-19 has set the scene for Swae. Our three biggest use cases include collaboration during remote work, increasing collaboration without unwanted noise, and building more inclusive cultures supporting growth and DEI initiatives. All of these points are extremely important in today’s organizational realities, no matter the company size.

The ROI of Swae so far 

Over the past 12 months, the results from implementing Swae for various clients speak for themselves and this has made us more proud than anything else during such harsh times. Some of our clients include the United Nations, LifeLabs, Etihad Airways, and more.

Having compiled results from over 40,000 unique users and several large organizational pilots from around the world that demonstrates we’re delivering on our promises – even though we’re just getting started. Some of the great things that have come back to us: 

  • $5M+ USD – the value of innovation ideas that have been sourced through Swae (so far).
  • $1M USD – average value of innovation pipeline developed over 12 months
  • 200K+unique collaboration exchanges have happened between Swae’s users.
  • 94% of users polled say Swae increased their engagement, motivation and happiness by helping them have a meaningful voice in decisions.
  • 90% of users polled claim Swae surfaced ideas that would not have otherwise surfaced using other available collaboration tools. 
  • 84% of users polled say Swae made idea sharing and collaboration easier & more accessible to their whole community
  • 3-months is the payback period – either resulting from cost savings ideas generated from the platform, revenue generating ideas sourced from the platform for investment and development, or efficiencies resulting from replacing more manual idea management and decision-making tools.
  • 70% increase in engagement (compared to other experiments and efforts to date)

While Swae is all about helping organizations shed more light on their challenges and providing a reliable platform where they can source ideas from the people within to create more inclusive cultures and a more equal playing ground, we do have a more grandiose vision that is the next evolution of our technology.

“Swae is ultimately designed to inspire ideas and stimulate debate around new, more effective forms of global cooperation at the highest levels in the biggest governments whether it be in cities, states or countries. We must realize that our system is no longer fit for our new age and we need new actors, new operating assumptions, and new norms to help reframe our priorities and uphold humanity-first, and nations second.

We need new processes and improved participation methods in order to create new solutions that prioritize and give political weight to ideas that advance humanity, preserve and benefit all in our species, above a narrow set of national self-interests. This can happen using the foundation we’ve built for Swae and will be our next big evolution of the technology we’ve built,” says Zanganehpour.

Swae is helping organizations across the world to solve today’s problems and generate tomorrow’s strategy. Our clients are finding that their greatest resource is their people, and Swae is proven to help get the best from the untapped potential within their workforce. We’d love the chance to show you how Swae can ‘pay off’ for you…

Ready to learn how Swae can help your organization?

More to explore…

Swae Chosen as SingularityNET’s DAO Grant Funding Platform –Helping Distribute $1M in Grants for Newly-Launched Deep Funding Program

Swae Chosen as SingularityNET’s DAO Grant Funding Platform –Helping Distribute $1M in Grants for Newly-Launched Deep Funding Program

Swae Chosen as SingularityNET’s DAO Grant Funding Platform –Helping Distribute $1M in Grants for Newly-Launched Deep Funding Program

Swae’s platform will also support SingularityNET’s plans for progressive decentralization and community-driven governance for their DAO

7 min read, 29 March 2022

FOFO business leaders not listening

Swae, a Vancouver-based technology startup operating a bottom-up idea management and decision-making platform, has been chosen by SingularityNET’s executive team to support their Deep Funding grant allocation program, which offers their token holders from around the globe a chance to apply for up to $1M in grant funding for winning AI projects.

The Deep Funding program intends to distribute up to $1M USD equivalent value in AGIX tokens (valued at 0.11 USD per token) in the first funding round between March and May 2022. These rounds are expected to grow in size and scale after this initial implementation.

A budding partnership to power next generation DAO governance and their plans for progressive decentralization and community-driven decision-making

About SingularityNET’s DeepFunding.AI Grant Program

The Deep Funding program is an initiative from SingularityNET to seed the decentralized AI platform. In this program, they will offer a total of $1 Million in grants in round one. The project is searching for AI and app developers working on innovative AI products that will help grow the AI platform, to send in their proposal. The chosen project winners that will receive funding will keep ownership of their AI model, and be able to monetize their intellectual property and contribute to building a global ecosystem of decentralized AI (see DeepFunding.ai).

Hear about the Deep Funding Program directly from SNet’s Founder, Dr. Ben Goertzel

The Community’s Role in the Deep Funding Program

Deep Funding is intended to be a genuinely bottom-up and community-driven program where community involvement is essential for reviewing proposed grants and projects to ensure the best make it to the top.

Community members are invited to submit new grant proposals, read and review other proposals that come in, and help improve them through collaborative edits to help make the proposals cleaner and without errors. Collaboration will include the ability to point out strengths, risks, ask questions, as well as rate them against other idea proposals.

The collection of constructive and collaborative changes will signal to the wider community which proposals are gaining the most traction and are best positioned to be considered for an official vote and potential grant win.

Through the process of collective intelligence and constructive criticism from the community, the best proposals and projects will be prioritized and supported to implementation, and SingularityNET will begin practicing how best to implement community-driven governance for its DAO.

 

How Swae Powers the Deep Funding Program

Using Swae, Singularity NET will invite proposing teams and community members the following top goals: 

  • The program will gather a constant supply of high quality AI project proposals that are a good fit for the Deep Funding Program
  • Create continuous and constructive community involvement
  • Prepare for scalability to support a longer term program potential

AI project teams from around the world will use Swae to introduce themselves and promote their project proposals into the greater community and receive valuable feedback.

The projects that are chosen as grant winners will receive funding through grants to develop their AI project using AGIX tokens from SingularityNET’s DAO platform called SingularityDAO.

Once the winning projects have been funded, the winning teams will launch their AI service on the decentralized AI-platform to start monetizing their service. There are two levels of grants that will be offered in round one:

1) $500.000 USD of AGIX will be distributed for smaller proposals with a maximum of 40.000 USD worth of AGIX per proposal

2) $500.000 USD In AGIX distributed to larger proposals with a maximum of 150.000 USD worth of AGIX per proposal.

See https://deepfunding.ai for more details. 

 

Why Swae was Chosen to Support the Deep Funding Program

Swae was chosen by the SingularityNET team as they found Swae to have all their desired features and function sets. They’re seeking to build a genuinely community-driven program, and Swae is much more than a crowdsourcing and voting platform, it’s a robust community-driven and consensus-building platform that enables decision-making that’s driven by collective intelligence. Swae was chosen for many reasons, including:

 

  • Rich formatting options when creating proposals
  • The affinity with AI-supported tooling such as the NLP writing tools they already have built-in
  • The ability to contribute Proposals, Comments or Suggestions anonymously- allowing the difficult things to be said.
  • The way that interactions are fully accountable and transparently tracked is a solid starting point for community-based interaction.
  • The willingness of Swae’s team to collaborate in developing the platform gives the SingularityNET foundation and community an opportunity to enhance their roadmap, or even co-create with them, on the development of elaborate new features.

Pictured above shows Swae’s AI capabilities and reviewing process, whereby users benefit from various NLP AI algorithms to improve the quality of their initial proposal or idea. Some of Swae’s algorithms improve basic grammar, tone, sentiment and emotion, and more advanced algorithms under production will help detect bias in language and suggest evidence to further strengthen their ideas.

“Swae’s bottom-up, self-organizing-creativity based philosophy has proved a great match for our decentralized cross-disciplinary organization. Their active embrace of web3 technologies promises to position them excellently as leaders in idea management for the emerging decentralized tech ecosystem.

We’ve started out at SingularityNET with Swae as a framework for a community-driven grants program, DEEP Funding, but are now exploring further potential uses of the platform within our ecosystem. The miracle of Swae is the judicious product design that provides enough structure to guide the creative collaboration and decision process, but not so much structure as to become constraining and bureaucratic.

My colleagues and I are excited to continue exploring what Swae can enable as the platform grows and adds new features.

Swae_Dr_Ben_Goertzel
Dr Ben Goertzel CEO of SingularityNET

“Deep Funding is a very important initiative for SingularityNET and the growth of our AI platform. But it is more than that. I see Deep funding as a catalyst and experimentation ground for community governance.

We want Deep funding to become a true community driven initiative eventually evolving into a full DAO. Therefore I am extremely happy with the feature set and capabilities of Swae. We count ourselves lucky to have found such a great partner that feels like an extension of our own team.

With our joint collaborative and innovative approach and the constructive feedback of our community, I am confident we will be able to develop Swae even further into the best tool for governance processes of Decentralized Autonomous Organizations.


Jan Horlings, VP of Products at SingularityNET

Swae was founded to give everyone inside an organization an equal voice in raising solutions and shaping decisions – something that is currently foreign and missing from most experiences inside small and large hierarchical organizations.

We want to prove that a bottom-up system of decision sourcing can be as equally good or more effective than the top-down processes we have in place today in most organizations.

Nowhere do we see a greater opportunity for our ambitions and vision to be realized than within the world of Web3 with the explosive growth and mainstreaming of Decentralized Autonomous Organizations (DAOs).

Soushiant Zanganehpour Swae Founder and CEO Swae_io_Logo

Deepfunding program is designed to support new ideas in decentralized AI. We are happy to be able to contribute to the benefit of the next generation of projects across the globe. Our NLP work at Swae is truly making the future possible as we observe current AI solutions helping to create new ones.


Vlad Sokol Head of AI & Engineering 

About SingularityNET

SingularityNET is one of the most ambitious web3, blockchain, and AI projects ever conceived in the world. 

Lead by Dr. Ben Goertzel, former Director of Research of the Machine Intelligence Research Institute, former scientist and chairman of AI software company Novamente LLC; chairman of the OpenCog Foundation; and former Chief Scientist of Hanson Robotics, the company that created Sophia the Robot, SingularityNET intends to combine artificial intelligence and blockchain to democratize access to artificial intelligence.

SingularityNET features a decentralized AI platform that enables developers to monetize their AI services on a global market without sacrificing ownership.

The next cornerstone of the AI platform is ‘AI-DSL’, a protocol that allows individual AI services to dynamically find and communicate with each other, forming ad-hoc collaborations that are capable of much more complex tasks than any individual service would be.

This way, the project aims to remove one of the major limiting factors to AI growth today — the lack of interoperability — which severely restricts the ability to leverage the strengths and capabilities of individual AIs. The Sophia robot, the world’s most expressive robot, is one of our first use cases of this vision.

SingularityNET’s vision is to combine AI and blockchain to create a decentralized marketplace for different types of AI. This ecosystem is powered by the AGIX token that enables companies, organizations, and developers to buy and sell AI, but will also facilitate large numbers of autonomous transactions between all individual ai services. This capability will be further enhanced by HyperCycle, a novel Cardano Sidechain protocol, specialized in decentralized AI and capable of supporting the massive number of transactions needed for the future AI economy. SingularityNET’s “AI-as-a-service” aims to become the key open-source protocol for networking AI on the internet. A long term goal is to form a coordinated Artificial General Intelligence within the market network. It is an ambitious mission but the whole AI field is in its infancy (see SingularityNET.io).

In December 2017, @SingularityNET carried out an Initial Coin Offering (ICO) to raise funds for its ambitious vision and project. It is reported that their ICO was fully subscribed and raised $36 million USD in just 60 seconds! The Singularity team reported that the crowdfunding was capped after receiving $361 million in investor interest on its white list from more than 20,000 erstwhile investors.

For more info about SingularityNET, watch Dr. Ben Goertzel presenting SU Net at the World BlockChain Forum

About Swae

Swae is an idea management and decision-making platform that reveals solutions to problems directly from employees or stakeholder groups.

Founded in 2018, in Vancouver Canada, Swae’s platform disrupts the traditional hierarchy found within large organizations and provides a transparent and inclusive hub for ideation and collaboration. The combination of collective intelligence, AI and anonymity provide the foundation for users to provide critical feedback, improve ideas and vote on which ones move forward.

Organizations around the world use Swae to bring all voices to the table so they can uncover and benefit from the untapped collective intelligence from within.

For more information, visit www.swae.io or contact Swae’s Media Relations Team here.

Swae is helping organizations across the world to solve today's problems and generate tomorrow's strategy. Our clients are finding that their greatest resource is their people, and Swae is proven to help get the best from the untapped potential within their workforce. We'd love the chance to show you how Swae can 'pay off' for you...

Ready to learn how Swae can help your organization?

More to explore…
Why DAOs Matter

Why DAOs Matter

Home > BlogWhy DAOs matter so much to Swae's Mission [And what is the future of DAO Governance?]6 min read  July 2022 The backstory to Swae's pivot towards DAOs by Soushiant Zanganehpour @SoushiantWhy DAOs Matter [And what is the future of DAO Governance?]6 min...

Why Should I Care About the “Future of Work” [And What Does That Even Mean]

Why Should I Care About the “Future of Work” [And What Does That Even Mean]

Why Should I Care About the “Future of Work” [And What Does That Even Mean]

8 Minute Read
FOFO business leaders not listening

The future of work describes changes in how work will get done over the coming years as influenced by technological, generational and societal shifts.

What does Future of Work even mean?

Like many phrases, the “future of work” has been a term thrown around for a long time in conferences and such and is a buzzword people use, but many don’t really understand what it means.

We found Deloitte has a pretty good (and simple) definition:

“We define the future of work as a result of many forces of change affecting three deeply connected dimensions of an organization: the work (the what), the workforce (the who), and the workplace (the where).”

When we dig into the technological, generational and social shifts taking place, we see very clearly that organizations today face extraordinary challenges. So, the “future of work” can be very elusive and difficult to map out when things change at speeds never seen before. From the likes of the global pandemic situation, to adapting to new technologies, competitors, customer needs, and social norms, it seems that every development is coming in at rates that we haven’t seen before.

What we see happening right now is that major companies are being disrupted daily, staff is feeling more and more disengaged, and customers are demanding new, innovative ways to connect.

Technology and the Future of Work

McKinsey & Company released a study in 2020 that explored How COVID-19 has pushed companies over the technology tipping point—and transformed business forever.

What they found surrounding COVID-19 in particular is that it pushed companies over the “technology tipping point” and transformed business forever. According to the Microsoft CEO Satya Nadella, “We saw two years-worth of digital transformation take place in the first two months [of COVID-19]”.

In the eCommerce space, the changes were even more dramatic as the need to replace physical channels prevalent prior to COVID-19 became a life-or-death decision for many companies. Numerous reports and analysis confirm that COVID-19 forced more digital transformation to organizations in 3 months than over the past 10 years-worth of efforts by organizations and consulting firms combined. Every single industry has had to face new challenges that they need to learn how to overcome.

We’ve seen two years’ worth of digital transformation in two months”
Satya Nadella Chairman & CEO of Microsoft

To help organizations adapt to these challenges, technology platforms have had to step up, with many reports showing how tech outperformed the broader market. Specifically, the entire sector was up about 40% in the calendar year of 2020 alone.

The study by McKinsey & Company also looked at how the workplace environment has shifted and digitization has accelerated supply-chain interactions and internal operations by three to four years! Even more shocking, was that the share of digital or digitally-enabled products in their portfolios accelerated by seven years!

The point? In order to stay competitive in this new business and economic environment it requires companies to think outside the box and come up with better ways to collaborate and to dramatically change their internal practices.

Senior Executives are taking note and recognize technology’s strategic importance as a critical component of the business, not just a source of cost efficiencies.

In another study, G2’s 2022 Trends report on Software for the Hybrid Workplace showed that businesses in 2022 have begun to shift their focus from managing a hybrid office to achieving and maintaining efficient modes of communication in the post-pandemic work environment. 

The future of work around technology is that companies must find better solutions to remote working and remote collaboration. These two priorities sit at the top of the list that executives and organizations MUST look at and respond to immediately, or be left behind. 

The future of work around technological changes isn’t in the future anymore, it’s imperative to look at ways to enhance the hybrid work model, collaboration and employee engagement – and permutations of “work from home” – right now.

Generational and Social Shifts and the Future of Work

According to G2, companies will need to continue to offer a hybrid or fully remote option in order to retain top talent, especially after The Great Resignation of 2021 (the government’s jobs report released that over 20 million people quit their jobs in the second half of 2021. Some are calling it the “big quit,” others the “great resignation”).  

The desire for more freedom and flexibility has changed the employee experience forever and is now a huge social shift and generational priority. Therefore, communication and collaboration will be affected if teams are unable to adjust properly. Unfortunately, the standard video conferencing software will likely not be enough for teams in the long run. Part of adapting to this new environment will include a larger focus on tools that can enhance the virtual employee experience. 

High-quality communication and collaboration will become a priority for teams moving forward. Additionally, employers must consider individuals who may feel isolated if there is not enough team bonding time or face-to-face meetings. Finding ways to cultivate a healthy company culture and effective methods of communication in the current environment is vital.  

This is where Swae has been most helpful to organizations. We know that the world has changed irreversibly and new threats and opportunities arise daily for organizations. To source the best solutions to these challenges, the need for diverse options and competition for the best solutions has never been more important.  

A study by PwC Pulse Survey: Next in work states that we are at a pivotal moment for the future of work, and companies can help their businesses and employees thrive if employees remain the number one source of finding good solutions to internal and external challenges.

This is where Swae comes into the picture.

Swae solves this by helping organizations tap into the intelligence of their people with the ability to leverage the power of AI and a merit-based, bottom-up methodology. The outcome is the ability to develop smarter decisions without sacrificing speed.

Swae helps organizations turn their diversity into their superpower which can fuel transformation, adaptation, growth, and resilience during times when speed and the right decisions are critical to success. We also help companies create a “speak up” culture in workplaces, and what we know is that when a company creates a speak up culture, this is when positive things happen. (Read our most recent recap about creating speak up cultures inside of your organization here)

For example, employees who feel comfortable speaking up at work about problems and their solutions to them are 92% more likely to want to stay with the company (even if offered a comparable position elsewhere) versus 60% for those who don’t feel comfortable or have the chance to speak up at all. 

Furthermore, 95% of those who do speak up expressed excitement to come to work to do their jobs and said they would recommend their company as a great place to work, compared with 61% among those who did not have the opportunity to speak up. 

Swae is on a mission to give everyone a voice and to help leaders uncover the possibilities from within their organization to drive significant improvements by unlocking hidden ideas from their people. Unlocking and cultivating the hidden innovations and opportunities have demonstrated time and time again that it can drive massive change and major improvements. The secret to doing this comes from what our inclusive platform activates to get there; trust, collaboration, engagement and an “idea meritocracy” where the best ideas rise to the top.

We want companies to WIN and we want leaders to understand the concept of what an “idea meritocracy” is. Therein lies the key to performance gains, and in the words of one of its most prolific enthusiasts, Ray Dalio, the Founder of Bridgewater Associates – the most successful hedgefund in history – and author of #1 New York Times bestseller Principles, said: 

“I believe in idea meritocracy – a system that brings together smart, independent thinkers and has them productively disagree to come up with the best possible collective thinking and resolve their disagreements in a believability-weighted way that will outperform any other decision-making system. To have an idea meritocracy, you put your honest thoughts on the table, have thoughtful disagreement, and abide by agreed-upon ways of getting past disagreement.”


Ray Dalio Founder Bridgewater Associates

In his book Principles, Mr. Dalio credits the system of idea meritocracy as the backbone of Bridgewater’s internal operating system and culture for unearthing trapped insights and turning unconventional ideas into organizational decisions. In an industry as reliant on high quality arguments, unbiased information, and sound decisions as the financial industry is – it’s no surprise how an idea meritocracy helped them build a repeatable and scalable system for helping the most appropriate internal and external decisions rise from the bottom to the top.  

Many believe this is Bridgewater’s secret weapon for outperforming all its competitors and every other hedge fund in the history of the industry. 

It’s becoming more widely accepted that an organization’s best ideas and solutions can come from anywhere regardless of the hierarchy, and Swae helps its users feel they have a real voice and platform that they can trust to share their ideas about problems and solutions at the workplace. These are ideas that would otherwise get lost or neglected in the complex and bureaucratic web of tools, workflows and processes that a large-scale modern company encompasses.

In a world where continuous innovation is increasingly critical and organizations must move at the pace of software companies, competitive success — perhaps even survival — requires moving beyond exclusive use of hierarchical decision-making, drawing on the power of crowdsourcing and markets wherever possible. Under today’s business environment and circumstances, creating a speak up culture and an idea meritocracy makes strong business sense. 

Study after study shows that increasing diversity in teams and companies is not an empty feel-good slogan – it actually leads to more frequent and better-quality innovation and improved financial performance, as experienced by firms like Bridgewater (e.g. BCG’s 2017 research findings).  

This is because diverse teams are shown to be smarter, identify and address cognitive biases more frequently in important decisions, and develop better innovations leading to improved financial performance against teams that are more homogenous. 

Experts believe this is the case because the greater the diversity of decision makers the more likely they can collect diverse inputs and options to select from, process information more carefully, and catch inherent biases more accurately, leading to more objective and informed choices to select from, and better end decisions. 

Companies that take these initiatives seriously and moves them forward as priorities perform better. Swae believes organizations CAN THRIVE when decisions are made more inclusively. The combination of creativity, innovative suggestions and quality of arguments presented through Swae can lead to more informed decisions, leading to better quality choices to select from that impact financial and organizational performance.

“The combination of multiple perspectives offers a wider set of possibilities than simple seniority. Of course, crowds can be wrong…but if the process is designed carefully, with the right checkpoints and safeguards in place, crowdsourcing can bring fresh insights for wider consideration.”

Swae is helping organizations across the world to solve today's problems and generate tomorrow's strategy. Our clients are finding that their greatest resource is their people, and Swae is proven to help get the best from the untapped potential within their workforce. We'd love the chance to show you how Swae can 'pay off' for you...

Ready to learn how Swae can help your organization?

More to explore…
Why DAOs Matter

Why DAOs Matter

Home > BlogWhy DAOs matter so much to Swae's Mission [And what is the future of DAO Governance?]6 min read  July 2022 The backstory to Swae's pivot towards DAOs by Soushiant Zanganehpour @SoushiantWhy DAOs Matter [And what is the future of DAO Governance?]6 min...

The Results Are In [Why Investing in Swae Pays Off]

The Results Are In [Why Investing in Swae Pays Off]

The Results Are In [Here’s Why Investing in Swae Pays Off]

Swae Boosts Inclusivity, Idea Meritocracy, Enhances Decision-Making Processes, and Supports Collaboration Without Boundaries

FOFO business leaders not listening

Results from over 30,000 unique users and several large organizational pilots from around the world demonstrate clearly that Swae delivers on its promises – even though we’re just getting started.

These before and after results come from case study after case study that confirms Swae consistently helps organizations uncover hidden innovation, boost engagement, improve inclusivity and collaboration despite physical borders, and enhance decision-making options.

Swae boosts inclusivity, idea meritocracy, enhances idecision making processes and supports collaboration without boundaries.

“I created Swae out of lived experience. As a former director in charge of strategy and investment decisions, I saw missed opportunities resulting from closed, top-down decision-making processes first hand.

When I included employees from all ranks into the idea development, refinement and prioritization process – creating a safe yet competitive environment for the best ideas to shine through – the results spoke for themselves.

Swae was born just a few years ago, to help others experience those same benefits that I did.”


Soushiant Zanganehpour Founder & CEO

The stats below have been gathered directly from the mouths of our clients:

Digital Disruption

COVID & Remote Working

Need for Inclusivity

Idea Meritocracy

Swae

$5M

the value of innovation ideas that have been sourced through Swae (so far)

$1M

the value of cost-savings ideas that have been generated.

200,000+

unique collaboration exchanges have happened between Swae’s users.

1000+

number of organizational challenges and solutions that have been created and solved by Swae’s users.

90%

of users polled claim Swae surfaced ideas that would not have otherwise surfaced using other available collaboration tools.

84%

of users polled claim Swae made collaboration easier, and sharing ideas more accessible to their whole community.

92%

of users polled claim Swae helped increase voice and convey ideas better than other collaboration platforms available to them.

94%

of users polled claim that having a voice in decisions through Swae helped directly increase engagement, motivation and/or happiness.

3 Months

the payback period saved from other manual idea management and decision-making tools

Swae is helping organizations across the world to solve today’s problems and generate tomorrow’s strategy. Our clients are finding that their greatest resource is their people, and Swae is proven to help get the best from the untapped potential within their workforce. We’d love the chance to show you how Swae can ‘pay off’ for you…

Ready to learn how Swae can help your organization?

More to explore...
Swae Sessions | Can Democracy Save the Environment?

Swae Sessions | Can Democracy Save the Environment?

Swae SessionsCan Democracy Save the Environment [A Talk to the Council of Europe & World Forum for Democracy]Live on Crowdcast and On Demandby Soushiant Zanganehpour @Soushiant Founder & CEO of Swae During this free webinar, you will learn:xLast year, The...

Why DAOs Matter

Why DAOs Matter

Home > BlogWhy DAOs matter so much to Swae's Mission [And what is the future of DAO Governance?]6 min read  July 2022 The backstory to Swae's pivot towards DAOs by Soushiant Zanganehpour @SoushiantWhy DAOs Matter [And what is the future of DAO Governance?]6 min...

Glossary

Glossary

THE LEXICON OF OUR INDUSTRY

Glossary

Lets create a truly inclusive and representative glossary of terms that define our industry.

See something missing? Something not quite right? At Swae, we’re learning and evolving just like you, so please get in touch and let us know.

20 minute read Last updated May 2022

FOFO business leaders not listening

A

Accountability — refers to ways individuals and communities hold themselves to their goals and actions, while acknowledging the values and groups to which they are responsible.

Affinity Groups — are a collection of individuals with similar interests or goals. Affinity Groups promote inclusion, diversity, and other efforts that benefit employees from underrepresented groups.

Ally — is a term for people who advocate for individuals from underrepresented or marginalized groups in a society.

Anonymity — comes from a Greek word meaning “without a name.” If you have Anonymity, you have namelessness, and people will not know who you are. Swae allows people to enable ‘Anonymity’ when submitting Proposals or Comments to give a layer of comfort to those who wish to say difficult things and eliminate FOSO. 

Anonymous means that a person’s name or identity has not been revealed or given or has been withheld. This is often useful to allow people to express ‘risky, unconventional or problematic’ issues without fear of repercussion.

Artificial intelligence (AI) – leverages computers to mimic the problem-solving and decision-making capabilities of the human mind. Swae uses AI to help automate improvements to the quality of a user’s initial proposal or idea.  (Including tone, sentiment, emotion, bias and suggesting evidence) to increase the possibility of achieving real world impact.

Asynchronous (async) – Asynchronous work is when work doesn’t happen at the same time for everyone- this can be during different times of the day, and from different locations. It can help improve flexibility, especially with remote working, and increase productivity.

B

BAME – “Black, Asian and Minority Ethnic” is an acronym used mostly in the United Kingdom to identify Black and Asian people.

BERT — (Bidirectional Encoder Representations from Transformers) developed by Google is a deep learning, transformer-based technique for natural language processing (NLP) that helps computers understand the meaning of ambiguous language in text by using surrounding text to establish context. (ie how one word relates to all the other words in a sentence).

Bias — Bias means to have a prejudice against groups that are not similar to you or to have show preference for people that are similar to you.

BIPOC – Black, Indigenous, and People of Color

Block – file with information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain

Blockchain — a sequence of blocks, or units of digital information, stored consecutively in a public database. Its a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of data points that is duplicated and distributed across the entire network on ‘the blockchain’. The basis for cryptocurrencies eg. Bitcoin, Ethereum, Solana, Avalanche

Bottom-up – approach is a way of making corporate decisions that starts from the bottom of the hierarchy, rather than at the top. In practice, this means that the CEO or leadership won’t be the one making all the decisions (that’s a top-down approach).

Black Lives Matter — Black Lives Matter is a movement that addresses systemic racism and violence against African Americans and other groups with ties to Black culture.

C

CD&I — Acronym for Culture, Diversity and Inclusion.

Collaboration – is the process of two or more people or organizations working together to complete a task or achieve shared goals.

Collective intelligence — is the process by which a large group of individuals gather and share their knowledge, data and skills for the purpose of collaboratively creating solutions.

Corporate governance – is the system of rules, practices, and processes by which an organization is directed and controlled. It involves balancing the interests of the many stakeholders, such as leadership, employees, customers, suppliers, investors, the government, and the wider community.

Crowdsourcing — is the collection of information, opinions, or work from a group of people, usually sourced via the Internet. Crowdsourcing work allows companies to tap into people’s different skills and ideas from different perspectives.

Crypto – cryptocurrency, a digital currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend

 

D

Decentralized Autonomous Organization (DAO) – is an organization designed to be autonomous and decentralized- they aren’t governed by one person, organization or entity. This places decision-making power into the hands of a crowdsourced and democratic process.

Decentralization—the transfer of authority, responsibility, control and decision-making from a centralized entity (individual, organization, or government) to a distributed network.

Deep learning— Deep learning is a type of machine learning and artificial intelligence (AI) that imitates the way humans gain certain types of knowledge, to learn from experience and understand the world. Its a subset of Machine learning (which uses algorithms to parse data, learn from that data, and make informed decisions based on what it has learned), whereas Deep learning structures algorithms in layers to create an “artificial neural network” that can learn and make intelligent decisions on its own.

Democracy — is a system of government in which power is vested in the people and exercised by them directly or through freely elected representatives. In the corporate world this means that power is vested in people and teams using a flat hierarchy. The word democracy comes from the Greek words “demos”, meaning people, and “kratos” meaning power; so democracy can be thought of as “power of the people”.

DEFI – decentralized finance, removes the control banks and institutions have on money, financial products and services

D&I — stands for “diversity and inclusion” and is often a catch-all for diversity initiatives. Diversity is the what (the characteristics of the people you work with such as gender, ethnicity, age, disability and education). Inclusion is the how (the behaviors and social norms that ensure people feel welcome).”

Some companies also use the words “equity” (Slack) and “equality” (Salesforce) in their diversity titles. Equity and equality are usually alternatives to “inclusion”.

DEI — stands for Diversity, Equity & Inclusion. Also known as; 

  • D&I (Diversity & Inclusion)
  • DEI (Diversity, Equity, and Inclusion)
  • DEIA (Diversity, Equity, Inclusion & Accessibility)
  • DIB (Diversity, Inclusion & Belonging)

Digital transformation (Dx) — Digitizing both internal and external processes to keep running as smoothly as possible.

Disability — is a term used to describe people who have a mental or physical impairment which has a long-term effect on their ability to carry out day-to-day activities. Disablism — means promoting the unequal or differential treatment of people with actual or presumed disabilities; either consciously or unconsciously.

Discrimination — is a term used to describe the unequal treatment of individuals or groups based on race, gender, social class, sexual orientation, physical ability, religion, national origin, age, physical or mental abilities, and other categories that may result in differences.

Diversity — the characteristics and individual differences between people, groups or teams based on such things as:

  • abilities
  • age
  • disability
  • learning styles
  • life experiences
  • neurodiversity
  • race/ethnicity
  • class
  • gender
  • sexual orientation
  • country of origin
  • cultural, political or religious affiliation
  • any other difference

E

Emotional Tax — refers to the effects of being on guard to protect against bias at work because of gender, race, and/or ethnicity. Emotional Tax has effects on a person’s health, well-being, and the ability to be successful at work.

Emotion analysis — is the process of identifying and analyzing the underlying emotions expressed in textual data. Swae analyses 27 emotions, based on the types of feelings expressed in the text such as fear, anger, happiness, sadness, love, inspiring, or neutral, to help define corrective actions and improve the intended outcome for the writer.

Empowerment –The state of being empowered to do something: the power, right, or authority to do something.

Employee disengagement – A disengaged employee is someone who usually doesn’t enjoy their work, and as a result, does the bare minimum, doesn’t put in extra effort, and is highly unlikely to be a company evangelist. Those who are actively disengaged can cause problems at their companies and spread further disengagement or de-motivate others.

Employee Engagement (Ex) is the extent to which employees feel passionate about their jobs, are committed to the organization, and put discretionary effort into their work. Employee engagement helps drive the organisation forward and add value to your business. 

Employee Engagement — is also the organisation reaching out to their employees to engage them with certain activities to help include them and motivate them

Equality — (in the context of diversity) is typically defined as treating everyone the same and giving everyone access to the same opportunities. It is sometimes used as an alternative to “inclusion”. 

Equity — (in the context of diversity) refers to proportional representation (by race, class, gender, etc.) in employment opportunities.

ERG — Employee Resource Group. ERGs are employee identity or experience-based groups that are meant to build the feeling of community in the workplace. 

Ethnic Diversity  — refers to the presence of different ethnic backgrounds or identities.

Ethnic Minorities — ethnic groups that arn’t the dominant ethnicity

Ethnicity — or Ethnic Group, is a way to divide people into smaller social groups based on characteristics like:

  • cultural heritage
  • values
  • behavioural patterns
  • language
  • political and economic interests
  • ancestral geographical base

Exclusion — means leaving someone out based on their differences. These differences can be related to race, gender, sexual orientation, age, disability, class, or other social groups.

F

Flat Hierarchy / Flat Organization (also known as horizontal organization or flat hierarchy) has an organizational structure with few or no levels of middle management

Future of Work is a projection of how work, workers and the workplace will evolve in the years ahead. The COVID pandemic is completely reshaping the way we do our jobs and communicate with our colleagues. Businesses are trying to better understand how the emergence of technology and globalization will impact the way their employees work, how it will reshape Human Capital Management, and what impact the changes will have on how companies operate. 

Fear of Finding Out (FOFO) the selective avoidance of negative information- or simply, the fear of seeking the truth. It can stop a company (or person) from uncovering the hidden challenges that could derail their future success. It’s an apprehension – or sometimes even inability – to hear the truth about the problems that persist in their organization and the associated negative impacts they might have on their company’s organizational health and performance, in order to avoid conflicts or disrupt their status quo.

Fear of Speaking Out (FOSO) — the fear of an employee (or subordinate) revealing negative or unpleasant information for fear of repercussions or upsetting their superiors. 

G

Gas – the fee required to conduct a transaction or execute a contract on the Ethereum blockchain

Gender — is a term used to describe socially constructed roles, behaviors, activities, and attributes that society considers “appropriate” for men and women. It is separate from ‘sex’, which is the biological classification of male or female based on physiological and biological features.

GPT-3 (Generative Pre-trained Transformer 3) is a language model that was created by OpenAI. The 175-billion parameter deep learning model is capable of producing human-like text and was trained on large text datasets with hundreds of billions of words. Its an autoregressive language model that uses deep learning to produce human-like text.

Groupthink is a phenomenon that occurs when a group of individuals reaches a consensus without critical reasoning or evaluation of the consequences or alternatives. Groupthink is based on a common desire not to upset the balance of a group of people.

H

Hierarchy — describes a system that organizes or ranks things, often according to power or importance. A hierarchy is an organizational structure in which items are ranked according to levels of importance. 

Hidden Bias — hidden bias, or implicit bias, refers to the attitudes or stereotypes that affect a person’s understanding, actions, or decisions unconsciously as it relates to people from different groups. Also known as Unconscious Bias.

HIPPO – the Highest Paid Person’s Opinion – or the “highest paid person in the office.” is used to describe the tendency for lower-paid or junior employees to defer to, or be overruled by higher-paid, more senior leaders when a decision has to be made. These decisions are characterised by ‘gut instinct’ rather than being merit based, data driven decisions. 

Holacracy – is a system of corporate governance whereby members of a team or business form distinct, autonomous, yet symbiotic, teams to accomplish tasks and company goals.

Humanocracy — is defined as the design of an organization to maximize human contribution. Seven human-centric principles lie at the heart of humanocracy and differentiate it from bureaucracy:

  • Ownership
  • Meritocracy
  • Markets
  • Community
  • Openness
  • Experimentation
  • Paradox.

I

Idea meritocracy — is an environment in which the best ideas win, regardless of where or whom they came from. The ‘best’ idea is determined by a number of things, including the quantity and quality of the data, popularity, feasibility, and not by positional power. 

Immutable – data cannot be changed or modified by anyone after its creation, the core defining feature of blockchain

Inclusive leadership — means that leaders commit to ensuring all team members are treated equitably, feel a sense of belonging and value, and have the resources and support they need to achieve their full potential. An inclusive mindset includes respect for others, open-mindedness, curiosity, cultural competence, kindness, lack of ego, and empathy. Most inclusive leaders articulate authentic commitment to diversity, challenge the status quo, and make diversity and inclusion a personal priority.

Innovation — can refer to something new, such as an invention, or the practice of developing and introducing new things. An innovation is often a new product, but it can also be a new way of doing something or even a new way of thinking.

Implicit Bias — or hidden bias, refers to the attitudes or stereotypes that affect a person’s understanding, actions, or decisions unconsciously as it relates to people from different groups. Also known as Unconcious Bias.

Imposter Syndrome — is common in members of underrepresented groups. Imposter Syndrome is present when high-achieving individuals are in constant fear of being exposed as a fraud and are unable to internalize their accomplishments.

Inclusion — refers to the process of bringing people that are traditionally excluded into decision making processes, activities, or positions of power. Inclusion is sometimes called Inclusiveness or Inclusivity and allows individuals or groups to feel safe, respected, motivated, and engaged. Inclusion values differences as a source of strength, innovation, and performance; as well as creating belonging. 

Inclusive Language — refers to the use of non-specific words to avoid assumptions around sexual orientation, gender identity, race, age, ethnicity etc.

Institutional Racism — means that institutional practices and policies create different outcomes for different racial groups. These policies may not specifically target any racial group, but their effect creates advantages for white people and oppression or disadvantages for people of color. Often used interchangeably with Structural Racism.

Innerpreneurs – persons who create a business that focuses mainly on their own inner goals

Intrapreneurship is the act of behaving like an entrepreneur while working within an organization. It’s creating a new business, venture, ideas and transformations within an organization. One of the most well-known examples of intrapreneurship is the “Skunk Works” group at Lockheed Martin. 

J

JEDI – Justice, Equity, Diversity & Inclusion

Justice – Presence of systems and supports (e.g. policies, practices, norms) that achieve and sustain fair treatment, equitable opportunities, and outcomes for people of all races. 

K

KPI stands for key performance indicator, a quantifiable measure of performance over time for a specific objective. KPIs provide targets for teams to shoot for, milestones to gauge progress, and insights that help people across the organization make better decisions.

L

LexRank — is LexRank is a stochastic graph-based method for computing relative importance of textual units (scoring of sentences) using Natural Language Processing. The main idea is that sentences “recommend” other similar sentences, therefore, if one sentence is similar to others around it, then it will likely be of greater importance and gets ranked highly (allowing it to have the significance to be placed in a summary).

LGBT — Abbreviation for lesbian, gay, bisexual, and transgender a group that is often marginalised. LGBT is an acronym with multiple variations such as:

  • LGBTQ — Lesbian, gay, bisexual, transgender, and queer (or questioning).
  • LGBTQIA — Lesbian, gay, bisexual, transgender, queer (or questioning), intersex, and asexual (or allies).
  • LGBTA — Lesbian, gay, bisexual, transgender, and asexual/aromantic/agender.
  • LGBTIQQ — Lesbian, Gay, Bisexual, Transgender, Intersex, Queer, and Questioning.
  • LGBTQ2+ — Lesbian, gay, bisexual, transgender, queer (or sometimes questioning), and two-spirited. The “+”  signifies a number of other identities and is used to keep the abbreviation brief when written out.  Some write out the full abbreviation which is LGBTTTQQIAA.

M

Mansplain — when are men explain something to a person in a condescending or patronizing manner, typically a woman.

Marginalization — to exclude, ignore, or relegate a group of people to an unimportant or powerless position in society.

Meritocracy — traditionally means a social system or organization in which people reach positions of power based on their abilities rather than their money, family connections, etc. With context to Swae; meritocracy means ideas and decisions are made based on the quality of the idea, regardless of the seniority of the person who put forward the idea. Ray Dalio describes this as “An idea meritocracy is an environment in which the best ideas win, regardless of where or whom they came from.”

Metaverse – a digital universe with all the aspects of the real world—real-time interactions and economies.

Metrics — are measures of quantitative assessment commonly used for comparing, and tracking performance or production. Swae uses metrics to track the progress and performance of Missions and Proposals to help determine their meritocracy.

Micro-inequity Apparently small events which are often ephemeral and hard-to-prove, events which are covert, often unintentional, frequently unrecognized by the perpetrator, which occur wherever people are perceived to be different- Mary Rowe, MIT.

Minority — racially, ethnically, or culturally distinct groups that are usually subordinate to more dominant groups. These groups are called Minority Groups. However, a minority in one setting is not always a minority in another. 

Mint – the creation of a new NFT token, turning a digital file into a crypto collectible or digital asset

Multicultural — means pertaining to more than one culture.

Multiethnic — describes a person who comes from more than one ethnicity.

N

Natural language processing (NLP)   a component of artificial intelligence (AI), is the ability of a computer program to understand human language as it is spoken and written, enabling computers to understand everyday language as humans do. Natural language processing takes real-world text (or voice), processes it, and make sense of it in a way a computer can understand, including the contextual nuances of the language, with the aim of accurately extracting information and insights. Previously, large quantities of unstructured, text-heavy data could not be effectively analysed by computers and sophisticated automated improvements were not possible.

Neurodiversity diversity in how people’s brains are wired and work, and that neurological differences should be valued in the same way we value any other human variation.

NFT – non fungible token, a unique digital object that confers ownership of a virtual good, like a digital artwork or online collectible

O

Organizational change management  is the systematic approach and application of knowledge, tools and resources to deal with change. It involves defining and adopting corporate strategies, structures, procedures and technologies to handle changes in external conditions and the business environment.

Organizational effectiveness — is a concept that measures how thoroughly and efficiently a company achieves its business goals. … Its moving parts function smoothly to produce the results the business set out to achieve, with minimal wasted resources or time.

Ostrich Effect — describes peculiar human behavior where individuals avoid information, they believe may be unpleasant (also known as ‘head in the sand’.

Oppression — refers to systemic and institutional abuse of power by a dominant or privileged group at the expense of targeted, less privileged groups.

Outgroup Bias — is when people view people from outside their “group” as less similar and have negative bias against them.

P

Permissionless – a system where no entity can regulate who can use it and how – often used to describe blockchains

Platinum Rule — is an inclusionary take on the “Golden Rule” (instructing us to treat others how they want to be treated). The Platinum Rules urges people to ignore personal biases and treat others by how they feel they deserve to be treated).

Pronouns — (in the context of diversity) are consciously chosen phrases that people use to represent their gender identity. There can be certain pronouns to avoid like “he” or “she”, during hiring or in the workplace. 

Q

R

Race — is a social term that is used to divide people into distinct groups based on characteristics like:

  • physical appearance (mainly skin color)
  • cultural affliction
  • cultural history
  • ethnic classification
  • social, economic, and political needs

Racism — is the oppression of people of color based on a socially constructed racial hierarchy that gives privilege to white people.

Racial and Ethnic Identity — Racial and Ethnic Identity refers to a person’s experience of being a member of an ethnic and racial group. Racial and Ethnic Identity is based on what a person chooses to describe themselves as based on the following:

  • biological heritage
  • physical appearance
  • cultural affiliation
  • early socialization
  • personal experience

Racial Justice — means to reinforce policies, practices, actions, and attitudes that produce equal treatment and opportunities for all groups of people.

Remote work – is the practice of employees doing their jobs from a location other than a central office operated by the employer. Such locations could include an employee’s home, a co-working or other shared space, a private office, or any other place outside of the traditional corporate office building or campus.

RHINO – Really Here In Name Only. The RHINO is just there to collect a paycheck without contributing much to the team. They might not be actively impeding your decision-making, but they are not helping much either.

S

Safe Space — means a place people can be comfortable expressing themselves without fear as it relates to their cultural background, biological sex, religion, race, gender identity or expression, age, physical or mental ability.

Sentiment analysis (or opinion mining) Identifying the mood or subjective opinions within large amounts of text. Using natural language processing, text analysis, computational linguistics, and biometrics to systematically identify, extract, quantify, and study affective states and subjective information. Sentiment Analysis is the process of determining whether a piece of writing is positive, negative or neutral.

Smart Contract – a piece of code that self-executes once certain conditions are met, like a vending machine but online

Social collaboration refers to processes that help multiple people or groups interact and share information to achieve common goals. (usually referred to now as Crowdsourcing)

Stablecoin – a cryptocurrency with extremely low volatility, that has its market value pegged to some external reference such as the USD

Staking – putting your tokens in to serve as a validator to the blockchain and receive a reward

Structural Racism sometimes called Institutional Racism, refers to institutional practices or policies that create different outcomes for various racial groups. The effects of Structural Racism usually create advantages for white people and oppression or disadvantages for minorities.

T

Token (Crypto) – a representation of an asset, can be held, traded, or staked to earn interest

Token / Tokenism – the practice of doing something (such as hiring a person who belongs to a minority group) only to prevent criticism and give the appearance that people are being treated fairly, diversely or equally 

Tokenization (AI) when text is broken down into smaller units to work with more easily

Transfer learning (TL) is a subset of machine learning (ML) that focuses on storing knowledge gained while solving one problem and applying it to a different but related problem.

Transformer GPT-3 is basically an AI transformer model. Transformer models are sequence-to-sequence deep learning models that can produce a sequence of text given an input sequence. These models are designed for text generation tasks such as question-answering, text summarization, and machine translation.

U

Unconscious Bias — also known as Implicit Bias, refers to attitudes or stereotypes about certain groups which are often based on mistaken or inaccurate information.

Underrepresented Group — refers to a subset of a population with a smaller percentage than the general population. For example, women, people of color, or indigenous people.

V

Values Fit —  also Culture Fit, identifies the connection of shared goals rather than viewpoints or background.

W

Wallet – a place to store crypto assets.

Cold Wallet – stores digital assets off-line, making them secure from bad actors but more difficult to use

Hot Wallet – is online and easily accessible but also more susceptible to hackers

Wellness / corporate wellness — is the collective mental state of the people within an organisation. It can also involve the physical, health, lifestyle and working practices in a workplace. Research shows that corporate wellness programs can reduce absenteeism, improve productivity and grow positive morale.

Whale – individuals, institutions or exchanges that hold significant amounts of tokens of a particular cryptocurrency

Wisdom of the crowd is the idea that large groups of people are collectively smarter than individual experts when it comes to problem-solving, decision-making, innovating, and predicting.

WOLF – Working On the Latest Fire the team or employee who jumps from one problem to the next. They thrive on the adrenaline rush of putting out fires. The WOLF is great at responding to emergencies, however this can also disrupt your team’s focus and effectiveness.

Workforce Diversity —  means having a group of employees with similarities and differences like age, cultural background, physical abilities and disabilities, race, religion, gender, and sexual orientation.

Work-Life Effectiveness — is a talent management strategy that focuses on doing the best work with the best talent regardless of the diverse aspects of individuals.

Workplace Inclusion — is an intentional effort to create an atmosphere of belonging where all parties can contribute and thrive regardless of their age, gender, race, ethnicity, gender, or sexual orientation.

X

Xenophobia — is prejudice or a dislike for people from other countries.

 

Z

ZEBRA – Zero Evidence But Really Arrogant– ZEBRAs think they know it all but rely on their instinct rather than any actual evidence. To stave off the ZEBRAs in your midst, make sure that you’ve got data to back up your decisions.

More to explore...
Swae Sessions | Can Democracy Save the Environment?

Swae Sessions | Can Democracy Save the Environment?

Swae SessionsCan Democracy Save the Environment [A Talk to the Council of Europe & World Forum for Democracy]Live on Crowdcast and On Demandby Soushiant Zanganehpour @Soushiant Founder & CEO of Swae During this free webinar, you will learn:xLast year, The...

Why DAOs Matter

Why DAOs Matter

Home > BlogWhy DAOs matter so much to Swae's Mission [And what is the future of DAO Governance?]6 min read  July 2022 The backstory to Swae's pivot towards DAOs by Soushiant Zanganehpour @SoushiantWhy DAOs Matter [And what is the future of DAO Governance?]6 min...

5 reasons why Polls and Surveys do more harm than good

5 reasons why Polls and Surveys do more harm than good

HOW TO GET GOOD FEEDBACK

5 reasons why Polls and Surveys do more harm than good

8 minute read December, 2021

FOFO business leaders not listening

As hard as it may feel, it’s time to toss out your old approach to boosting engagement, unlocking hidden feedback, and generating good ideas (there’s a better way, we promise).

Let’s start with the precursor to today’s popular digital polls, pulse checks and surveys: The suggestion box. According to Wikipedia, a U.S Senator from Indiana named Voorhees first introduced the suggestion box in 1890’s, and referred to it as ‘The Petition Box.’ Voorhees insights and intentions were likely ahead of his time, in today’s world this old-school contraption likely collects more dust than great ideas, and the paper suggestions or feedback within it are as neglected as the boxes they sit within. If you have one in your office, when was the last time you checked it? Be honest.

It’s no surprise why – the visual of this box (whether physical or digital) represents an artifact of history – made for an entirely different cultural, technological, and communications era. It is the epitome of a broken feedback loop and incomplete two-sided social contract.

Assume that your people take it seriously and take to it to share their powerful ideas or important pieces of feedback for change – when there is no regular cadence for checking it or reviewing and making decisions on the feedback received, why would people continue using it? In today’s world, it’s a form of virtue-signaling.

The digital survey. Did it get any better?

When technology advanced and brought us the internet, email and peer-to-peer communication, workplaces around the globe graduated to doing polls and surveys digitally, to rapidly understand the pulse of their employees and stakeholders on various matters.

Far better right? Unfortunately not. Electronic polls and surveys have proven to be just as ineffective as the outdated suggestion box, creating risks for the organizations.

Let me explain, and start with defining the difference between a poll and a survey.

A poll is used to ask very simplified questions (often just one question) with very little data to gather. For example, where should we organize the next off-site? When should we host the holiday party? Etc. 

A survey is generally used to ask a wide range of questions and used when a much larger set of data needs to be gathered and further analyzed. 

Polls, when properly administered and when the results are shared openly can be a powerful tool. While limited to solving very simple, multiple choice, black and white issues, they can help demonstrate where consensus lies and be a forcing function for a particular change. But in today’s world, the topics and issues that require consensus are not easy black-and-white matters. The issues that require our best insights and collective intelligence are open-ended, blue-sky topics that have no clear right answer and have high consequences for being wrong. For example: what trends might disrupt our business in the short term? How might we adapt our workplace and policies to be ahead of the challenges of Covid-19? What processes need to be digitized and how do we do so in order to be resilient towards the challenges of Covid-19? Polls can give you digestible soundbites but the outputs will rarely help you solve problems through today’s complex challenges. 

Surveys also fall short on many fronts.

  

Polls

Surveys

Swae

Main use

Used to collect immediate feedback on a simple topic

Used to collect feedback and opinions on broader topics

Used to crowdsource decision-ready solutions, not opinions, on an important but uncertain question

Example

When should we host our Christmas Party?

a) December 18
b) December 19
c) December 20

Should we host a Christmas Party or repurpose funds into a bigger bonus?

a) Host christmas party
b) Repurpose funds into bigger bonus
c) Other

What is the best way to celebrate the upcoming Christmas milestone with our team? In the past we’ve hosted Christmas parties but we’re open to different suggestions this year. Share your most creative proposal using Swae.

Constraints & Question Type:

Only 1 question, with restricted options for answers (e.g. 1 multiple choice question)
More than 1 question, most often with restricted options for answers (e.g. several multiple choice questions)
Only 1 question, with unlimited and unrestricted free-flowing text answers and creative proposals as responses

Participant Options

Participants respond to 1 multiple choice question
Participants respond to different types of questions
Participants invested to submit solutions, not multiple choice answers

Time Investment Required

Seconds to complete
Minutes to complete
Minutes to complete (build proposal)

Output

Provides limited but concrete data about the opinion of people on a topic so decision maker can make an upcoming decision
Provides more information than a poll to help predict future trends or inform the design of an upcoming decision
Provides rich, decision-ready proposals to help decision-makers help solve a problem or unlock hidden value or design appropriate responses to an upcoming decision and important uncertainty
Source: Parts of this chart were made referencing Pediaa.com

Source Pediaa

Next, let’s get into the top 5 reasons why suggestion boxes, polls and surveys are a thing of the past:

Workplace polls and surveys are innately biased by design and produce biased unreliable results. We all have cognitive biases – from anchoring, confirmation, to overoptimism or pessimism biases – and these biases can significantly limit and frame the way in which we ask for input. The design of a question can in turn limit the types of responses you receive back – and in many ways help justify the end goal you were inclined to choose yourself. This is a form of “conclusion shopping”.

Bias results can have negative impacts on your strategic choices and decisions; Reverse engineering the collection of limited data from the survey to justify a certain approach can limit how your organization copes in a crisis for example. Bias ensures that you won’t get reliable results and is pretty sneaky as it’s often unintentional. Biases are more likely to show up in polls or surveys because a) there are very few survey creator(s), and b) the respondents only have 2 choices – respond to the options presented or skip the question. When the survey or poll designers have their own goal in mind, this can significantly skew the provided questions or respondents’ answers and dramatically influences the results affecting the credibility and value of data received.

Polling or surveys limit collaboration and learning opportunities for participants, as well as the refinement of ideas through collective intelligence. Being closed, tightly-guarded, non-transparent, and one-directional exercises by a single department or group to collect opinions from the masses, the result is often that others who’ve participated are prevented from seeing their colleagues’ answers and demands. This lack of transparency limits learning and collaboration opportunities, and most certainly limits the chance to turn problems into relevant solutions through creative collaboration and the wisdom of the crowds.

The closed, one-directional approach of surveys is increasingly mismatched for the times we live in. A conventional engagement survey is a one-way, extractive, and closed communication process. The approach increasingly feels like something from the past, something totally misaligned with today’s modern culture, anchored in the culture of social media and modern technology that embraces more open, equal, two or many-to-many directional, transparent, and informal communication approaches. When the process of collecting opinions is designed in a way to limit visibility and extract information without any guarantee of sharing results or the value of the information with participants, better yet, commit to any action in advance they inherently breed suspicion, mistrust, and lack of engagement.

Surveys and polls breed and multiply cynicism, and lack of trust. Employee feedback is critical in today’s workplace. Given the times we live in, employees have a lot to say – suggestions, improvements, even discontent —and we at Swae strongly believe everyone needs an outlet to voice their opinion.

But in today’s environment of low trust and ever-increasing insecurity about what the future holds in store, when the company keeps asking for feedback through surveys and nothing happens with the feedback, employees quickly turn cynical and mild disengagement turns into apathy and in some cases resentment.

According to a Cornell National Social Survey, when organizations do surveys and not take any action, the results are astounding:

  • 26% respondents of surveys said they withhold information about problems or ideas for workplace improvement due to a sense of futility
  • Futility was 1.8 times more common than fear as a reason why respondents would withhold responses or disengage from surveys

When employees feel like their feedback is not being taken seriously, they in turn disengage. It’s pretty simple to understand. It’s not that they don’t want to provide feedback, but leadership at the organization is not living up to their end of the agreement and backing surveys up with any action.

Surveys and polls are broken feedback loops by design (in a time when closing the loop is ever more important). Related to the two points above, surveys and polls rarely commit in advance to doing something with results and in their lies the principle problem. Just like their well-intentioned but outdated predecessors the suggestion box, polling or surveys rarely commit in-advance to act on the most popular or most useful ideas/feedback. The fact that there is no accountability that any good insights and ideas shared will be acted upon to create any improvements is the most troubling of all. If nothing changes after a person provides their feedback in a poll or survey time, and time again, completely neglects a fundamental need of employees today.

At its heart, a survey is an invitation for the respondent to give their opinion. As such, it should be the most basic form of civility to acknowledge their responses and ideally the organization should share what it has learnt, while talking about the actions it intends to take.

When these basic steps are absent, the result is very predictable. For employees, all future engagement exercises are compromised because the subtle social contract has been broken and undermined. Trust is now out the door. Once trust disappears, the sanctity of the process is forever gone and nobody takes the results seriously, except the managers who would like to humblebrag about their engagement metrics (and conveniently sidestep the details of the responses from participants).

They are one-directional extractive exercises that breed futility. They provide little to no value to the participants, because they don’t get to see others’ answers and most times rarely get to see the end results. In most cases – they are disingenuous attempts to demonstrate to employees that they care about them when in fact there is a premeditated plan that nothing much is to be done with the results in the first place.

What is left is a ritual where, despite best intentions, the organization appears to pretend to care for employees’ opinions – and the employees pretend to care to give those opinions.

The truth in today’s world is most people won’t fully engage or give their best ideas if they know in advance that their contributions may not change anything.

Why speak up if it won’t make a difference? Why invest in an organization that dismisses you?

The impact of this on morale is disastrous. Futility turns to apathy and resentment.

Without commitment and some direct integration into the decision-making process, engagement tools, surveys, feedback processes are futile. Those participating will inevitably feel the process is pointless. People are getting much more selective about what they will and won’t engage in. For people to engage deeply and meaningfully, they need incentives they believe in, and systems in place that they trust to contribute their absolute fullest.

It’s time to depart with the tools of the past and allow for powerful technologies to step in. This is where we say hello to Swae.

Meet Swae, the idea management platform your people will love and trust.

Swae is not polling or a surveying tool. It’s a marketplace for ideas and well-developed proposals.

Swae is different from surveys and polls because it’s designed to close the feedback loop with decision-science and user empathy at its core.

Swae’s platform transforms the old way of collecting feedback through polls and surveys. It’s transformative in that our clients source creative and collaborative solutions to complex questions and versus gathering selective opinions to a very limited set of questions.

As a manager or decision maker, Swae helps you hear what you’re not hearing by giving users incentives that other platforms and tools don’t.

Your people want to have a voice in decisions and want their voice to be heard. Engagement surveys and the like don’t do this justice.

If hearing truth and great ideas is as important to you as it is for us, you’ll understand that it’s a two-way street.

At Swae we believe that if you want to hear what you’re not hearing, you need to understand why people aren’t talking.

People don’t trust one-directional engagement surveys that don’t go anywhere.

They want to know their ideas may lead to changes, or at a minimum know how they can do better on the next attempt. It’s about a two-way conversation, not a one directional monolog.

Swae helps you do both.

As we shared above, polling or surveys rarely commit in advance to act on the most popular or most valuable ideas/feedback, so respondents don’t know what good it will do if they take their time to fill them out. Swae deals with the looming issue of futility and cynicism directly – because it is built with a modern social contract built into it.

How Swae Works

Here’s how Swae works:

A manager gets to set up the main mission or challenge that they are looking for creative proposals from employees. They also get to determine what metrics and KPIs a proposal needs to achieve before being eligible for a decision review.

Then it’s over to the employees to enter in their proposals with the topic in mind.

Swae’s AI and collective intelligence features help users turn their feedback and opinions into proposals and smart decisions through a merit-based process. Swae’s AI helps people write a stronger pitch for their idea.

Once the idea is on the platform, the crowd is invited to edit the idea, add strengths and weaknesses, and vote for the best solution in mind. The collection of the engagement points help determine how ‘decision-ready’ the idea is. If the total engagement exceeds the metrics set up by my management, the idea automatically moves to a decision review.

Management still gets to make the final decisions about the fate of the ideas that have bubbled up to the top but the filtering process happens based on merit and transparency.

The only requirement is that whatever management chooses to decide, they share their reasoning for accepting or rejecting decisions online so all employees or stakeholders who were involved in the challenge learn about priorities and strategy.

Swae’s Benefits

This process helps ensure trust, and keeps intrinsic motivations high enough for continuous engagement and use. This helps break the broken feedback loop cycle of traditional surveys, polls and other engagement attempts.

Using Swae, people see the direct link between ideation to decision-making and organizational change.

The results of this are astounding. When people in an organization believe their voice matters, and believe in the opportunity to influence the agenda, they trust the process and engage more deeply. An engaged employee, stakeholder, or citizen who has trust invests more discretionary effort and emotional equity than the bare minimum expected. This leads them to unleash their creativity and ideas, engaging with others’ ideas to improve upon them, and ultimately helping shape and generate better quality ideas for the organization to select from, helping leaders make more effective decisions (from the bottom-up).

Swae’s platform creates a safe, inclusive, and anonymous space for problem and solution generation inside any organization, allowing leaders to source investable solutions, hear the truth, boost engagement, and reduce bias in important strategic decisions to improve overall performance. Swae helps create an ideal meritocracy inside organizations for all kinds of important decisions. By implementing Swae, teams, companies, and government entities benefit from greater inclusion and diversity, access to better quality ideas to select from, without making significant structural changes to how they manage the organization.

Swae is proud to be the only platform that helps turn people’s ideas into proposals and investable decisions through a “bottom-up process” that leverages AI and the intelligence of the crowd.

How Swae can help?

Within Swae’s environment, people can offer their authentic feedback and build thought-provoking proposals to share their ideas and solutions in a safe and inclusive environment. People can stay anonymous, allowing leaders/decision-makers to source more investable solutions because people feel safer, hear the truth, boost engagement, and reduce bias in critical strategic decisions to improve overall performance.

Swae allows for more opportunities to generate more revenues and save money or time. Swae is a place where people can hear problems they didn’t even know existed and then, in response, unleash the creativity of their people to solve the most pressing issues.

How Swae can Help Your Organization?

If you’re looking to innovate faster and be truly flexible in our fast-changing world, we invite you to connect with us for a limited free trial of “Swae’s 21st century suggestion box”. 

Whether you are a team, company or government entity, the benefit you will garner from greater inclusion and diversity will speak for itself.

More to explore...
Swae Sessions | Can Democracy Save the Environment?

Swae Sessions | Can Democracy Save the Environment?

Swae SessionsCan Democracy Save the Environment [A Talk to the Council of Europe & World Forum for Democracy]Live on Crowdcast and On Demandby Soushiant Zanganehpour @Soushiant Founder & CEO of Swae During this free webinar, you will learn:xLast year, The...

Why DAOs Matter

Why DAOs Matter

Home > BlogWhy DAOs matter so much to Swae's Mission [And what is the future of DAO Governance?]6 min read  July 2022 The backstory to Swae's pivot towards DAOs by Soushiant Zanganehpour @SoushiantWhy DAOs Matter [And what is the future of DAO Governance?]6 min...

>

Pin It on Pinterest