Artificial intelligence and machine learning could become key
partners in salary management decisions. Figuring out the
'perfect salary' is just one way we may be able to empower
AI in compensation and benefits decisions. Employers should not
miss the opportunity to involve AI both in their salary decisions,
and in complying with pay reporting requirements.
AI and salary: the possible connections
Determining the most appropriate salary is a key issue for
companies. What's more, in the current 'great
resignation' scenario, retention simply cannot be ignored. One
of the reasons employees change jobs is in order to get their
expected salary. This leads to losses for companies, both in terms
of performance and from a monetary perspective. There are the costs
of a recruitment process, onboarding, training, understaffed teams,
and a lack of engagement, to name just some of the costs
involved.
