Human Signature

The future of total rewards is shaping up to be dramatically different from its current look and function. Artificial intelligence, workforce analytics, agile organizations, employee experience and more are just some of the changes in store. Artificial Intelligence - The interconnection of artificial intelligence (AI) and compensation marks a new age in total rewards theory. Machine-powered analytics can provide greater insight into the challenges of job matching and talent selection, which could lead to significantly improved recommendations and higher performance. Soon, AI will lead to "job descriptions that write themselves”. Survey-based data may not be replaced, however, we might be seeing real-time peer data which will help in better and faster pay decisions. Agile organization - Organizations are becoming more agile and flexible. Within a constantly evolving business climate, it is crucial for an organization to move quickly and effectively. With the ...

                  Imagine a scenario, where algorithmic tools & programs being used to calculate the number of years a person will stick around in an organization or selecting a candidate without any interview rounds. And how about this one, appointing employees directly as VPs, CEO, MD etc. because the data says so, even though data parameters look completely illogical to human mind. This may include gene/DNA analysis. Primarily, till now HR’s have taken decision on biased data points which is based upon intuition or experience. Organizations are spending on well-intended, but mishandled retention tactics, such as raises, bonuses or promotions put in place by HR in an attempt to control attrition. When these strategies are applied without hard data to back them up, their results can be futile. Worse, money can be spent needlessly to retain people who are not actually at risk of leaving. HR never realized how much data they ...