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ubcnewsworld
Business & Economics
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Innovative Appraisal System Helps Employers Weigh Agile Team Compensation A huge challenge for employers like you in adjusting to the pandemic is how to accurately compensate staff working in remote teams. Percival has the answer with its online team survey system. Percival gathers staff input about the contributions of colleagues, then uses the team members' appraisals to inform your management decisions on compensation. Flexible pay for those who worked harder according to peers increases engagement and reduces turnover among your top performers Some team members will have a greater say in results. The Percival system is designed around regularly scheduled appraisals that produce quantitative results from surveys of each team member who appraises their colleagues. The system applies proprietary algorithms to distribute pay recommendations based on each team member's input. Accurate results reflect what percentage of the team compensation budget each team member should receive in the opinion of co-workers who know best because they work together closely and collaboratively. Percival helps management make informed compensation decisions by providing 360- degree evaluative insight into team members' performance and contributions. Best practices are to run the survey when compensation systems or team members change and at the end of the project. Visit https://www.percival.l ive for more.
