Abstract
Organizations, the business environment and individuals are changing at a rate that is much faster than the rate of change with respect to the way organizations design and manage pay systems. A misaligned pay system not only fails to add value, but also creates high costs and misdirected behavior. The pay systems of the future must pay for the person rather than the job, reward excellence through pay for performance plans, and individualize the pay system to meet the needs and desires of a diverse work force.
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