Team working with AI management tools in a modern office — People Yield

A new management
framework for
the AI era.

A new management
framework for
the peopleAI era.

Capital was the scarce resource of the last century. People are
the scarce resource of this one — and AI is making it urgent!

THREE STEPS

Organizations need a new decision-making framework.

We help organizations act on three critical levers: measuring people productivity, continuously improving how work really happens, and redesigning strategy execution and motivation.

1

PRODUCTIVITY

The value each person creates is shifting fast.

AI multiplies output for some, dissolves it for others. The old labour productivity ratios don’t catch this. You need a measure that does.

2

ORGANISATION

The right size of the org keeps moving.

Where humans add value — and where agents do — changes by the quarter. Headcount becomes a continuous strategic variable, not an annual budget.

3

MOTIVATION & EXECUTION

Without focus, change becomes resistance.

People who don’t see how AI helps them, quietly resist it. Productivity gains evaporate. Strategy stops compounding.

WHY THIS. WHY NOW.

Every era produces a new way of organising work.

For forty years, HR has focused on the individual — talent, performance, engagement. But the lever for value creation today is not the individual. It’s how people interact, and how the organisational model channels those interactions toward the strategy.

In Reinventing Organizations, Frederic Laloux traces the pattern: as human awareness evolves, organisational models evolve with it. Each leap in consciousness has produced a new way of working together.

LALOUX · EVOLUTION OF ORGANISATIONAL MODELS

1

Tribe

Authority by elders

Foraging bands, kinship-based decisions, no formal structure.

1

Tribe

Authority by elders

Foraging bands, kinship-based decisions, no formal structure.

2

Army

"The stick"

Powerful chiefdoms, command & control, division of labour.

2

Army

"The stick"

Powerful chiefdoms, command & control, division of labour.

3

Machine

"The carrot" · Predict & Control

Formal hierarchy, MBO, meritocracy. The dominant model of the last forty years.

3

Machine

"The carrot" · Predict & Control

Formal hierarchy, MBO, meritocracy. The dominant model of the last forty years.

4

Family

Stakeholders perspective

Empowerment, shared culture, relationships before results.

5

Teal

Engagement & alignment

Self-management, OKRs, continuous feedback, transparent execution.

"At each stage of human evolution, an organisational model is connected to the level of consciousness we have as individuals — and this leads to a leap in the way we collaborate."

"At each stage of human evolution, an organisational model is connected to the level of consciousness we have as individuals — and this leads to a leap in the way we collaborate."

— Frederic Laloux, Reinventing Organizations

— Frederic Laloux, Reinventing Organizations

PEOPLE YIELD · THE CHAPTER LALOUX COULD NOT YET WRITE

6

Human & AI, working as a system

Teal pointed at this — but it lacked the substrate. With AI now part of how work actually happens, the leap Laloux anticipated finally has the ground beneath it. The unit of analysis is no longer the individual, nor even the team. It's the network of interactions — human-to-human, and human-to-agent.

Relational maps across humans and AI agents

The firm becomes a hybrid network. Mapping who collaborates with whom — including which agents serve which workflows — is the new managerial competence. Without that map, you are managing in the dark.

Processes run by AI, supervised by people

Some processes move to agents end-to-end. Others stay in copilot mode. The choice is strategic — not technical.

OKRs & motivation as the engine of innovation

When execution is augmented, the human edge moves upstream: alignment, judgment, originality. Manage for potential, not for tasks

Teal announced this transition. Silver is where it lands when AI takes part in the work, and people become irreplaceable where it counts most.

THE BLIND SPOT

Silver describes the world.
Your accounting system can’t see it.

Silver describes the world.
Your accounting system can’t see it.

For forty years, EVA® gave companies a rigorous lens for managing capital. But labour — the new scarce resource — is still measured with proxies built for a different century.

Revenue per head ignores capital. Operating profit per employee penalises HR investments. Engagement scores tell you how people feel, not whether they create value.

None of these can answer the question that matters: are we creating value through our people? — let alone whether the AI we’re deploying is amplifying that value or just adding cost.

For forty years, EVA® gave companies a rigorous lens for managing capital. But labour — the new scarce resource — is still measured with proxies built for a different century. Revenue per head ignores capital. Operating profit per employee penalises HR investments. Engagement scores tell you how people feel, not whether they create value.

None of these can answer the question that matters: are we creating value through our people? — let alone whether the AI we’re deploying is amplifying that value or just adding cost.

For forty years, EVA® gave companies a rigorous lens for managing capital. But labour — the new scarce resource — is still measured with proxies built for a different century.

Revenue per head ignores capital. Operating profit per employee penalises HR investments. Engagement scores tell you how people feel, not whether they create value.

None of these can answer the question that matters: are we creating value through our people? — let alone whether the AI we’re deploying is amplifying that value or just adding cost.

Capital productivity

measured (EVA, ROIC)

Financial returns

measured

Operational efficiency

measured

Value created through people

invisible

Value created through people

invisible

WHAT YOUR DASHBOARD SHOWS - AND WHAT IT DOESN'T

THE NEW MEASURE

EVA People makes value-through-people visible.

EVA People makes value-through-people visible.

EVA People makes value-through-people visible.

We help you measure value-through-people, understand how your organisation really works, and activate execution at the pace AI demands.

We help you measure value-through-people, understand how your organisation really works, and activate execution at the pace AI demands.

THE CENTRAL QUESTION.

The formula. The drivers. The decisions it reframes.

EVA People applies thirty years of value-based management to the dimension that increasingly creates competitive advantage: how productively your people generate economic profit.

THE CENTRAL QUESTION.

EVA People = (Productivity per Employee − Average Employee Cost) × Number of Employees

where Productivity per Employee = (NOPAT before labour cost − Capital Charges) ÷ Number of Employees. The cost of invested capital is fully included — EVA People is the complete economic measure of labour productivity, not a partial proxy.

1

Productivity per Employee

The economic value generated by each person, after the full cost of capital.

The decision this reframes: how AI and HR programmes pay off.

Is the AI we’re deploying lifting value-per-person, or just shifting cost?

Which competence investments actually compound into productivity?

Track network evolution across diagnostic runs

CEO

HRO

1

MEASURE - EVA PEOPLE

Productivity per Employee

The economic value generated by each person, after the full cost of capital.

The decision this reframes: how AI and HR programmes pay off.

1

MEASURE - EVA PEOPLE

Productivity per Employee

The economic value generated by each person, after the full cost of capital.

Is the AI we’re deploying lifting value-per-person, or just shifting cost?

Which competence investments actually compound into productivity?

Track network evolution across diagnostic runs

Badge

Badge

2

Average Cost of Labour

Total labour cost normalised by headcount — the price you pay for productivity.

The decision this reframes: compensation architecture.

Can we afford the salary increases the market demands?

Is our role architecture creating economic room for pay growth, or eroding it?

Where is pay-for-productivity in balance — and where is it out of line?

CFO

HRO

2

UNDERSTAND - HOW4 (ONA)

Average Cost of Labour

Total labour cost normalised by headcount — the price you pay for productivity.

The decision this reframes: compensation architecture.

2

UNDERSTAND - HOW4 (ONA)

Average Cost of Labour

Total labour cost normalised by headcount — the price you pay for productivity.

Can we afford the salary increases the market demands?

Is our role architecture creating economic room for pay growth, or eroding it?

Where is pay-for-productivity in balance — and where is it out of line?

Badge

Badge

3

Organisational Size

Headcount as a strategic variable — not a residual of last year’s plan.

The decision this reframes: workforce sizing in the AI era.

Should we hire 50 more, or reorganise the 200 we have?

Where do humans add the most value — and where should agents take over?

When does headcount growth dilute value-per-person rather than create it?

CEO

CFO

3

EXECUTE - PATPAT 360

Organisational Size

Headcount as a strategic variable — not a residual of last year’s plan.

The decision this reframes: workforce sizing in the AI era.

3

EXECUTE - PATPAT 360

Organisational Size

Headcount as a strategic variable — not a residual of last year’s plan.

Should we hire 50 more, or reorganise the 200 we have?

Where do humans add the most value — and where should agents take over?

When does headcount growth dilute value-per-person rather than create it?

Badge

Badge

Decomposable across the organisation.

Decomposable across the organisation.

EVA People can be calculated for the whole company — or sliced by Business Unit, Function, or Geography. The same rigour EVA® brought to capital allocation, applied where decisions actually happen: at the level of the team that creates the value.

EVA People can be calculated for the whole company — or sliced by Business Unit, Function, or Geography. The same rigour EVA® brought to capital allocation, applied where decisions actually happen: at the level of the team that creates the value.

EVA People can be calculated for the whole company — or sliced by Business Unit, Function, or Geography. The same rigour EVA® brought to capital allocation, applied where decisions actually happen: at the level of the team that creates the value.

One metric. Three perspectives that finally agree.

One metric. Three perspectives that finally agree.

One metric. Three perspectives that finally agree.

CFO

A measure with the full rigour of EVA — capital charges included, decomposable, comparable to financial benchmarks. Finance doesn't lose anything; it gains a new lens.

Activate change agents identified by the ONA

Reduce resistance by addressing real silos

Track network evolution across diagnostic runs

HRO

People are no longer measured as a cost on the P&L. Productivity, cost, and headcount sit inside one equation — making HR programmes economically legible to the rest of the business.

Activate change agents identified by the ONA

Reduce resistance by addressing real silos

Track network evolution across diagnostic runs

CEO

One number that brings Finance and HR into the same conversation — and a clear set of three levers to pull when the answer needs to change

Activate change agents identified by the ONA

Reduce resistance by addressing real silos

Track network evolution across diagnostic runs

AI INVESTMENT INTELLIGENCE

Are you buying AI — or building productivity with it?

Most companies can tell you what they spent on AI last quarter. Almost none can tell you whether that spending is creating value through their people. EVA People answers the second question.

THE CFO TEST

“In two years, will our AI investments have compounded — or evaporated?”

The answer doesn’t live in the IT budget. It lives in EVA People — the only place where AI cost, capital cost, and productivity-per-person meet inside one equation.

AI COMPOUND

EVA People rises faster than headcount.

Productivity gains are sticking. People are using AI to lift their output, not just survive it. Workforce sizing decisions can lean into growth — the economic room is there. The AI investment is doing what it was meant to: making your people more valuable.

Value-per-person is growing. Compensation can grow with it.

1

AI COMPOUND

EVA People rises faster than headcount.

Productivity gains are sticking. People are using AI to lift their output, not just survive it. Workforce sizing decisions can lean into growth — the economic room is there. The AI investment is doing what it was meant to: making your people more valuable.

Value-per-person is growing. Compensation can grow with it.

1

AI COMPOUND

EVA People rises faster than headcount.

Productivity gains are sticking. People are using AI to lift their output, not just survive it. Workforce sizing decisions can lean into growth — the economic room is there. The AI investment is doing what it was meant to: making your people more valuable.

Is the AI we’re deploying lifting value-per-person, or just shifting cost?

Which competence investments actually compound into productivity?

Track network evolution across diagnostic runs

Badge

Badge

AI CORRODES

AI spend rises, EVA People doesn’t.

Either the AI isn’t being adopted where it matters, or it’s being adopted but the work design hasn’t changed to capture the gains. Or — quietly — people are resisting it. Without EVA People, you discover this in a write-down two years from now. With it, you see it this quarter and intervene.

Cost is going up. Value-per-person isn’t.

2

AI CORRODES

AI spend rises, EVA People doesn’t.

Either the AI isn’t being adopted where it matters, or it’s being adopted but the work design hasn’t changed to capture the gains. Or — quietly — people are resisting it. Without EVA People, you discover this in a write-down two years from now. With it, you see it this quarter and intervene.

Cost is going up. Value-per-person isn’t.

2

AI CORRODES

AI spend rises, EVA People doesn’t.

Either the AI isn’t being adopted where it matters, or it’s being adopted but the work design hasn’t changed to capture the gains. Or — quietly — people are resisting it. Without EVA People, you discover this in a write-down two years from now. With it, you see it this quarter and intervene.

Can we afford the salary increases the market demands?

Is our role architecture creating economic room for pay growth, or eroding it?

Where is pay-for-productivity in balance — and where is it out of line?

Badge

Badge

Eva People is how you turn AI from a cost line into a measured investment in productivity.

UNDERSTAND

A number that falls doesn’t tell you why.
And the why is never in the individual.

EVA People surfaces the result. But to move it — reliably, sustainably — you need to see the system that produces it. That’s where the framework continues.

1

STEP 01 - MEASURE

"Are we creating value through our people?"

EVA People — reads the result, at every level.

2

STEP 02 - UNDERSTAND

"If not, why?"

HOW4 — ONA reveals the network behind the result.

3

STEP 03 - EXECUTE

“How do we change it — this quarter, not next year?”

PatPat360 — OKRs + EVA-linked LTI activate daily behaviour.

Measure the result. Understand the drivers. Activate the change.

Measure the result. Understand the drivers. Activate the change.

HOW-4 · UNDERSTAND THE NETWORK

Your org chart shows hierarchy.
ONA shows where productivity actually lives.

Your org chart shows the hierarchy.
ONA shows the reality.

When EVA People moves — up or down — the cause is almost never a single person. It’s the network they sit inside. Organisational Network Analysis maps that network and tells you where to act.

Map collaboration networks

See who works with whom — beyond the org chart. Identify real information flows across functions, teams, and (increasingly) AI workflows.

Detect bottlenecks and overloaded hubs

Find the people whose absence would paralyse the organisation. Redistribute load before it becomes risk.

Identify influencers and change agents

Spot who can drive transformation — and who is isolated. Build AI-adoption strategy around real relationships, not org-chart fantasy.

Quantitative, repeatable, fast

4 questions. 20+ algorithms. Results at individual, team, unit and company level — in a few days, not months.

If value-per-person isnt rising, its rarely an individual problem. Its the way collaboration flows between people, and between people and AI.

PatPat360 · ACTIVATE EXECUTION

Annual MBOs are obsolete.
OKRs + EVA-linked LTI is the new contract.

Annual MBOs are obsolete.
It's time for OKRs.

In a world where AI changes the work every quarter, an annual objective is already wrong when you sign it. PatPat360 replaces the MBO model with quarterly OKRs and a compensation architecture built around value creation — not negotiated targets.

OLD MODEL

Management by Objectives (MBO)

TIMEFRAME

Annual — objectives stale before year-end

DIRECTION

Top-down only — no bottom-up input

TRANSPARENCY

Private — people don't see colleagues' goals

INCENTIVE LINK

Directly tied to pay — drives risk aversion

AMBITION

Conservative — nobody sets stretch goals

MOTIVATION

Point-in-time review — engagement falls in between

NEW MODEL

OKRs + Motivation Engine

TIMEFRAME

Quarterly cycles — always current and actionable

DIRECTION

Top-down strategy + bottom-up priorities

TRANSPARENCY

Public — alignment visible across the whole org

INCENTIVE LINK

Social recognition + LTI — decoupled from bonus

AMBITION

Stretch targets — failure at 70% is still success

MOTIVATION

Continuous — daily feedback and recognition

PatPat360 platform showing OKRs and performance reviews on desktop and mobile

When you remove MBO bonuses, the question becomes: where does the financial incentive go? The answer rewires the contract between company and employee.

THE DISTINCTIVE DESIGN

LTI plans indexed to EVA & EVA People.

When operating bonuses are gone, the financial incentive moves where it belongs: to long-term value creation. We design Long-Term Incentive plans linked to EVA and EVA People — so that the people inside the organisation share in the value they create.

The result: a compensation architecture that aligns daily behaviour with the same metric the CEO presents to the board. No more managing the bonus — managing the value.

PROVENANCE

Thirty years of value-based management, distilled into software.

Thirty years of value-based management, distilled into software.

People Yield was founded in 2020 by Fabio Fedel, one of Italy’s most experienced practitioners of value-based management. For over three decades, Fedel has worked alongside the leadership teams of Italy’s largest companies — applying EVA® as a lens for performance, capital allocation, and organisational design.


EVA transformed corporate management for forty years. In banking, it became the standard framework for risk-adjusted performance after Basel II — the basis of RAROC, economic capital, and the discipline of return over cost of risk. In industry, it reframed the conversation from accounting profit to value creation.

People Yield applies the same intellectual rigour to the new frontier: not capital, but people.

People Yield was founded in 2020 by Fabio Fedel, one of Italy’s most experienced practitioners of value-based management. For over three decades, Fedel has worked alongside the leadership teams of Italy’s largest companies — applying EVA® as a lens for performance, capital allocation, and organisational design.


EVA transformed corporate management for forty years. In banking, it became the standard framework for risk-adjusted performance after Basel II — the basis of RAROC, economic capital, and the discipline of return over cost of risk. In industry, it reframed the conversation from accounting profit to value creation.

People Yield applies the same intellectual rigour to the new frontier: not capital, but people.

People Yield was founded in 2020 by Fabio Fedel, one of Italy’s most experienced practitioners of value-based management. For over three decades, Fedel has worked alongside the leadership teams of Italy’s largest companies — applying EVA® as a lens for performance, capital allocation, and organisational design.


EVA transformed corporate management for forty years. In banking, it became the standard framework for risk-adjusted performance after Basel II — the basis of RAROC, economic capital, and the discipline of return over cost of risk. In industry, it reframed the conversation from accounting profit to value creation.

People Yield applies the same intellectual rigour to the new frontier: not capital, but people.

1

Active Value Advisors · founded 2008

Management consulting on value creation, performance, and organisational design. Clients include Pirelli, Mediobanca, Chiesi, ERG, Bracco, Hera.

2

People Yield · founded 2020

Technology spin-out. Develops and operates HOW4 and PatPat360.

3

PatPat360 — recognised by John Doerr

Featured among the seven OKR platforms on WhatMatters.com. Featured among the seven OKR platforms on WhatMatters.com. 4.5★ on Capterra and GetApp. Used by 10,000+ people in 12+ countries.

John Doerr holding Measure What Matters book — PatPat360 recommended OKR platform

INDUSTRY LEADERS

Trusted by J. Doerr

Trusted by J. Doerr

PatPat360 is among the 7 OKR platforms recommended on WhatMatters.com.
Rated 4.5★ on Capterra and GetApp. Used by 10,000+ people in 12+ countries.

"Many features associated with everyday work applications but streamlined for OKR best practices."

-John Doerr about PatPat360

Rays

Frequently Asked Questions

EVA People speaks to the CEO, the CFO, and the HRO differently — but it speaks to all three with the same number.

Choose your role.

What does ONA (HOW4) add to what I already know from engagement surveys and performance reviews?
With AI accelerating change, why is people management the new strategic frontier?
How does this fit with our existing strategic planning and reporting cycle?
How is EVA People different from the labour productivity ratios I already track?
How do I integrate EVA People into a single managerial language for CEO, shareholders, and HR?
How do you allocate Capital Charges across Business Units?
If I remove MBO bonuses to introduce OKRs, how do I keep people motivated and justify salary growth?
How do I get Finance to take HR programmes seriously as value drivers?
What does ONA (HOW4) add to what I already know from engagement surveys and performance reviews?

Frequently Asked Questions

EVA People speaks to the CEO, the CFO, and the HRO differently — but it speaks to all three with the same number.

Choose your role.

What does ONA (HOW4) add to what I already know from engagement surveys and performance reviews?
With AI accelerating change, why is people management the new strategic frontier?
How does this fit with our existing strategic planning and reporting cycle?
How is EVA People different from the labour productivity ratios I already track?
How do I integrate EVA People into a single managerial language for CEO, shareholders, and HR?
How do you allocate Capital Charges across Business Units?
If I remove MBO bonuses to introduce OKRs, how do I keep people motivated and justify salary growth?
How do I get Finance to take HR programmes seriously as value drivers?
What does ONA (HOW4) add to what I already know from engagement surveys and performance reviews?

Frequently Asked Questions

EVA People speaks to the CEO, the CFO, and the HRO differently — but it speaks to all three with the same number.

Choose your role.

What does ONA (HOW4) add to what I already know from engagement surveys and performance reviews?
With AI accelerating change, why is people management the new strategic frontier?
How does this fit with our existing strategic planning and reporting cycle?
How is EVA People different from the labour productivity ratios I already track?
How do I integrate EVA People into a single managerial language for CEO, shareholders, and HR?
How do you allocate Capital Charges across Business Units?
If I remove MBO bonuses to introduce OKRs, how do I keep people motivated and justify salary growth?
How do I get Finance to take HR programmes seriously as value drivers?
What does ONA (HOW4) add to what I already know from engagement surveys and performance reviews?

Bring the framework into your company.

Ready to put the framework into practice?

We help you measure value-through-people, understand how your organisation really works, and activate execution at the pace AI demands.

Sign up now and experience the power of AI-driven design without any commitment.

People Yield logo - unlock productivity through people

Execute strategy.
Motivate people.
Every day.

PatPat360 replaces slow, opaque annual MBOs with quarterly OKR cycles, transparent goal alignment and a social recognition engine that keeps people engaged and on track — wherever they work.

Team working with AI management tools in a modern office — People Yield
Team working with AI management tools in a modern office — People Yield