As younger talent makes up an increasing portion of the workforce, business leaders have to increasingly cater to needs that were not seen in previous generations. Traits displayed, including employees that are less motivated by salary and bonus, means that organizations need to take note.
An article in Talent Economy discusses the need for technology in compensation. Innovation has happened at a much greater rate in other areas than HR, and the article questions why compensation management is still maintaining traditional practices. As technology evolves, the article questions whether one day we could see cryptocurrency offered as a form of compensation.
Tanya Jansen, Chief Marketing Officer at beqom, explained to Talent Economy that employees are what ultimately drive a company’s success. By using technology as an enabler to provide a clear picture of how their work is connected to their compensation, you will produce not only higher engagement, but also greater loyalty and stronger performance.