Approaches to Job Evaluation Flashcards
Job Ranking System
the simplest and oldest method of job evaluation by which jobs are arrayed on the basis of their relative worth.
Job Classification System
a system of job evaluation in which jobs are classified and grouped according to a series of predetermined wage grades.
Point System
a quantitative job evaluation procedure that determines the relative value of a job by the total points assigned to it
Work Valuation
a Job evaluation method that seeks to measure a jobs worth through its value to the organization and alignment with strategic directives.
Factor Comparison
a job evaluation method that analyzes all specific skills required for a job, as assigns a monetary value to these skills to determine overall job worth
Hays Profile Method
a job evaluation technique for executives. Uses 3 factors: 1)Knowledge 2)mental activity 3)accountability
Competency Based Pay
pay based on an employees skill level, variety of skills possessed or increased job knowledge
