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WD: Which pay models could impact rewards strategies in the future?

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The DOL’s proposed $20,000 increase in salaried workers’ eligibility for overtime is large enough that businesses are concerned about difficult-to-manage changes to their budgets and business models.

That doesn’t mean every worker will need to know how to write code or build AI models — but some familiarity with the technology as it relates to workers’ respective industries will likely soon be a job requirement for most people.

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Between May 2017 and September 2019, DoorDash used aguaranteedpay model that let Dashers see how much they would be paid before accepting a delivery.

Firms said they’re poised to transition from manual pay benchmarking and fixed incentive models to AI-driven predictive analytics and real-time salary adjustments by 2028.

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“The model is only as good as the data you put in.”

“The only way to understand the best choice for you as a company is to model it out based on how that peer group has performed in prior years, and this requires a lot of work to create historical reference points.