AI and the Future of Reward: A Revelatory Experience at OP Reward Academy
OP Reward Academy Article 23 November
It is no secret that technology and I do not mix. My inability to complete even the most basic of Excel tasks is notorious. So, I hope you can appreciate how off brand it was for me to not only attend an event on AI, but also, enjoy it.
Last week, the OP Reward Academy had the honour of hosting Michael Piker, a distinguished voice with over three decades of international experience in the Reward sector. His talk, ‘AI and the Future of Reward,’ was a masterclass in clarity and depth, perfectly balancing information with accessibility and sparking lively discussions.
AI in Reward: Not Just a Buzzword
AI, while a buzzword today, has a rich history spanning over half a century. Michael illuminated how AI, historically seen in simple automation like meeting scheduling or predictive texting, is now pivotal in Reward strategies. It’s a constant in a field driven by data, but its potential is just being tapped into.
The fascinating aspect of AI is its learning mechanism, evolving through the data we feed it. This evolution is creating unprecedented opportunities in commercial and HR landscapes.
The Evolution of AI: Beyond Basics
Michael’s excitement was palpable when discussing the evolution of AI, especially its application in HR and Reward. He distinguished between the earlier applications of AI — often unnoticed in our daily digital interactions — and the new wave of AI-driven HR tech tools. These tools, designed with AI at their core, promise to revolutionise job modelling and salary surveys, offering a more robust, long-term investment in HR technology.
Is Reward Stuck in the Past?
This question spurred a vibrant debate at the event. The consensus? A resounding yes. With baby boomers retiring, the workplace is changing. The new generation values flexibility and enjoyment over traditional incentives like pensions. This shift calls for a fresh approach to compensation, one that aligns with modern values and expectations.
Michael Piker: A Life Devoted to Reward
Michael finished his talk by discussing his journey in Reward. Following in his father’s footsteps, he has traversed the globe, absorbing diverse cultures and languages, enriching his understanding of Reward.
His passion is matched by his commitment to mentoring, believing firmly that ‘Reward is a skill for life.’ His advice? Start in consulting, become a subject matter expert in one area of Reward, then diversify. Embrace travel, cultural experiences, and continuous learning.
Inspired by Michael’s insights? Stay tuned for more events from the OP Reward Academy. For more information, feel free to reach out.
Article Written By: Elizabeth Kerry – Senior Consultant – Reward, Analytics and HR Technology
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