Explain the methods of job evaluation.
Share
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
Job evaluation is a systematic process used to determine the relative worth or value of different jobs within an organization. Several methods exist for conducting job evaluations:
Ranking Method: Jobs are ranked from highest to lowest based on their overall worth or value to the organization. This method is relatively simple but may lack precision.
Classification or Grading Method: Jobs are grouped into predetermined classes or grades based on a set of predetermined job characteristics. Each grade corresponds to a particular salary range.
Point Method: This quantitative approach assigns points to various job factors such as skill requirements, responsibility, and working conditions. Jobs accumulate points based on these factors, determining their relative value.
Factor Comparison Method: Jobs are evaluated based on key factors such as skill, effort, responsibility, and working conditions. Each factor is assigned a monetary value, and jobs are compared accordingly.
Market Pricing: This method involves comparing jobs to similar roles in the external job market to determine their relative value based on prevailing market rates.
Hay System: A comprehensive point-factor system that considers three main factors: know-how, problem-solving ability, and accountability. Jobs are evaluated based on these factors to determine their relative value.
Choosing the appropriate method depends on organizational needs, resources, and the level of detail required for the job evaluation process. Each method has its strengths and limitations, and organizations may use a combination of these methods to ensure a comprehensive and accurate assessment of job worth.