We're straying off the topic a bit here ... but surely everyone must agree that AfC was just a great big con. An expensive one, too. That is, how much did its implementation cost, not only in £££'s but also in lost man-hours?
I say No to any notion of automatic annual increments. Why reward people simply for "hanging-in"?
But (on the other hand), for those for whom money is the prime motivator, may I refer you to the current thread about so-called "Managed Services".
Paying people for what they are worth sounds good. But what is the measure? Percentage of PM completed?