Pay and Rewards

The Automation of Pay and Bonus Systems to Provide a Transparent Reward System—The Shift from Paying for Knowledge to Paying for Results

We have seen in Chapter 5 how we use the performance appraisal system to gather data; you might well say what’s new; well, in fact, a lot.

AI will be able to gather the three component parts of productivity and present them for Pay and a Bonus reward and select only the performance element for Bonus. The other two elements, Competence and Reliability, will work in balance as a preventer to bonus if the minimum scores are not correct.

If this system is set up correctly, it will be initially self-funding, with no need to put artificial caps or restrictions on top performers. In the new ...

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