Introduction
As the General Election in the UK comes to an end I was thinking about all the political promises, pledges and lists of broken guarantees. It struck me that the country could take a leaf out of the reward book and pay politicians by results. In this age of big data it would be easy to set up metric based targets for the five-year term of parliament. Then we could pay the politicians against their metric achievement. Judging from the large number of alleged financial scandals surrounding our MP’s and alleged comments from senior politicians such as Malcolm Rifkin about how poorly they are paid, financial reward certainly seems very high on the agenda of those who lead us.
Payment by results
Using a payment by results approach based around big data metrics and evidence based policy approaches would allow voters to easily measure achievement – or lack thereof, Likewise, it would be easy to see what pledges have been met or not.
The payment by results approach, designed by reward professionals, (who else?) and monitored by an independent body; for example the Institute for Fiscal Studies, who give credibility to the politicians promises and hopefully reduce the meaningless political rhetoric and general unpleasantness that has dogged this election campaign.
Effective opposition
The same approach could be used for opposition parties, effective challenge to the executive, votes won, policies implemented and the like.
Summary
Rather than having to wade through the swamp of claims, counterclaims, pledges and dodgy statistics we would have clear measures against KPI’s set for the five-year term. In addition perhaps politicians would stop moaning about their pay if, like those of use in business they were paid for their hard work and success; although on second thoughts….
#ge2015 #bigdata #reward #pay
Ian Davidson Reward Blog 