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Performance Ratings Are History: 3 Better Alternatives To Determine Employee Compensation

It’s 2017 and companies are finally waking up to the reality that employee compensation should not be linked to performance ratings. The trend that started a few years back with only a few early adopters, has started to gain momentum. On a daily basis large & small, progress companies are moving away from tight-coupling of performance ratings with employee compensation.

Performance ratings are certainly not efficient at determining employee compensation. Many companies such as Microsoft, Adobe, Accenture, GE have already replaced this method with models that are more efficient at compensating employees based on their unique contributions to their teams/departments.

We think you might find these interesting:

Perfy, the AI Powered Robot to Enhance Employee Productivity
For the HR guys out there: How does an AI-powered performance management robot sound?

UpRaise has recently introduced its AI powered robot to manage your performance reviews. Fondly called as ‘Perfy’ by the creators, it is still a prototype. Yet the robots sophisticated mechanism can predict 95% accurate information. It monitors the daily activities of an employee to predict potential outcomes. That is, if he or she will succeed or fail in his or her endeavor. It also identifies areas that may need changes or reinforce strengths. The robot can thus provide timely assistance that reduces redundancy, operational costs and risks. Read more.

After Robots Take Over Our Jobs, Then What?
After robots take over our jobs, what is next? Guaranteed incomes? A public service job creation program? More conferences on “the future of work”?

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