The new compensation information system surveys team members who provide actionable input about the contributions of colleagues. Percival then uses the team members’ appraisals to inform management decisions on compensation.
More information is available at https://www.percival.live
The release of the compensation tool supports employers as they adjust personnel management to fit remote work trends. Staff are working collaboratively, often remotely and in an agile framework, allowing constant interaction.
More than one-quarter of Americans are expected to work remotely, according to Upwork. Changing their compensation systems to respond to remote work is among one of the most important issues for employers.
Percival allows management to design when and how its tool is used and who will access results. The system surveys teams efficiently, in about 15 minutes, using an intuitive interface.
In addition to fairness, equitable pay is vital to staff motivation and retention at a time when recruiting and retaining talent is becoming more difficult for employers in many sectors. The Percival system is designed around regularly scheduled appraisals that produce quantitative results from surveys of team members who appraise each other. 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 contribution. Best practices are to run the survey when compensation systems or team members change and at the end of the project. Typically, Percival is run two to four times per year.
“We make some of our most important decisions with the help of Percival including how we distribute ownership of the company itself,” said a customer in an online review.
For further details, visit https://www.percival.live
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