What do you think you’re worth?
by Steven J. Brams
Bonuses are a fact of business life. Last year the Guardian newspaper calculated that the cash rewards paid to London’s financial chiefs comfortably outstripped the UK’s entire transport budget.
With such large sums at stake, envy is bound to raise its ugly head, never a good thing for company morale. So how should you decide who gets how much? Steven J. Brams suggests a method that’s not only fair, but also encourages honesty.
What’s a fair share?
One of the most difficult problems managers face is how to allocate bonuses to members of a team when there is scant information on the contribution of each member to the team’s success.
It shows how an algorithm can be used to determine how bonuses (if they still exist!) can be allocated to employees, which a mediator could apply in the workplace.
Take a look at this most interesting and useful tool for measuring – how much you or they are worth.
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