About this Talk
Team-Set Salaries (TSS) is a next-generation compensation process that uses an elegant algorithm to solve a key problem in people management today: How do we set fair compensation for individuals in multiskilled, collaborative teams?
Throughout the last decade, management and HR gurus have recommended abolishing performance appraisals altogether, without providing any solution for fair compensation of individuals in collaborative teams. The industry as a whole is at a loss, struggling with several complicated approaches. Deloitte calls it “The Compensation Conundrum”.
Klaus will present the Team-Set Salaries (TSS) process and explain why it is the only individual compensation process that is:
Fair - Results are not only fair, but also perceived by the team as being fair. Actionable - TSS produces a precise numerical result for each person’s compensation. Collaborative - Appraisals are made by team members themselves. Easy-to-use - Team members take only 15 minutes each to carefully express their appraisal of their colleagues’ work. Scalable - There is no limit to the size of the team. TSS is used by companies to set salaries, share bonuses and even distribute company equity.