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Quick takeaways
- Algorithmic pay can lead to concerns about fairness and bias due to lack of transparency in determining compensable factors.
- Organizations must balance the power of AI with human judgment to minimize biases and ensure lawful practices in employment decisions.
Deep dives
Algorithmic Pay and Compensable Factors
Algorithmic pay involves making pay decisions based on a mathematical combination of compensable factors such as experience and location. While some industries have well-accepted compensable factors, the transparency of algorithmic pay in companies like Uber is unclear. The use of algorithms in compensation can lead to concerns about fairness, particularly when factors like car ownership affect pay. However, algorithmic pay can also be seen as a best practice when based on transparent and fair compensable factors.
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