Can anyone tell me what type of impact compensable factors of a position have on that positions salary?
From United States, Carol Stream
Acknowledge(0)
Amend(0)
From United States, Carol Stream
Acknowledge(0)Amend(0)
Hi,
I would like to know about job evaluation methods such as Classification, Factor Comparison, and Pointed Method. Could you please provide me with a few details about these methods so that I can gain an understanding and implement them in our organization?
Thank you,
Satya
From India, Hyderabad
Acknowledge(0)Amend(0)
I would like to know about job evaluation methods such as Classification, Factor Comparison, and Pointed Method. Could you please provide me with a few details about these methods so that I can gain an understanding and implement them in our organization?
Thank you,
Satya
From India, Hyderabad
Acknowledge(0)Amend(0)
Hi!
Compensable factors refer to the critical aspects of a job that business organizations consider to be their "points of reference" (standard or benchmark) in determining the size and value of a job to their company. HR practitioners generally agree that these factors refer to the following: skills, effort, responsibility/accountability, and working conditions/environment. These factors are often given sub-factors (that will further clarify the scope of the factor) and then given their relative weights (in numerical points) to be able to objectively and consistently use them as a measuring tool. When this approach is used, it is said that the company wants to evaluate its jobs by using the "point factor method"! Indeed, the most popular tools in Job Evaluation (JE) use the point factor rating methodology.
In the point factor methodology, all jobs that are evaluated get their corresponding "points score". These point scores become the basis for determining the "job grade" of jobs. A good and complete JE point factor methodology or system must be able to tell you immediately the correct job grade and job classification of a particular job based on the scores that they get after evaluation. And, generally, the job grade that a job gets (based on their score) will enable one to determine the objective market value of the said job when benchmarked with the market compensation survey done and published in a particular locality.
The point factor methodology is a very popular tool because it is considered to be more objective and consistent compared with other methods used in the evaluation of jobs.
But I would like to caution HR practitioners that the use of the point factor method needs a lot of experience to be able to make people understand it. HR should be able to make employees and management understand the system that it uses in determining the sizes and equivalent market pay for all the jobs in their company.
My company has competence and expertise in setting up a point factor method of JE in any type of organization anywhere in the world. We can help you if you have a budget for this activity. We are just a phone call and email away. Please visit our website: www.freewebs.com/emillaconsulting
Best regards.
Ed Llarena, Jr.
Managing Partner
Emilla International Consulting Services
From Philippines, Parañaque
Acknowledge(0)Amend(0)
104Compensable factors refer to the critical aspects of a job that business organizations consider to be their "points of reference" (standard or benchmark) in determining the size and value of a job to their company. HR practitioners generally agree that these factors refer to the following: skills, effort, responsibility/accountability, and working conditions/environment. These factors are often given sub-factors (that will further clarify the scope of the factor) and then given their relative weights (in numerical points) to be able to objectively and consistently use them as a measuring tool. When this approach is used, it is said that the company wants to evaluate its jobs by using the "point factor method"! Indeed, the most popular tools in Job Evaluation (JE) use the point factor rating methodology.
In the point factor methodology, all jobs that are evaluated get their corresponding "points score". These point scores become the basis for determining the "job grade" of jobs. A good and complete JE point factor methodology or system must be able to tell you immediately the correct job grade and job classification of a particular job based on the scores that they get after evaluation. And, generally, the job grade that a job gets (based on their score) will enable one to determine the objective market value of the said job when benchmarked with the market compensation survey done and published in a particular locality.
The point factor methodology is a very popular tool because it is considered to be more objective and consistent compared with other methods used in the evaluation of jobs.
But I would like to caution HR practitioners that the use of the point factor method needs a lot of experience to be able to make people understand it. HR should be able to make employees and management understand the system that it uses in determining the sizes and equivalent market pay for all the jobs in their company.
My company has competence and expertise in setting up a point factor method of JE in any type of organization anywhere in the world. We can help you if you have a budget for this activity. We are just a phone call and email away. Please visit our website: www.freewebs.com/emillaconsulting
Best regards.
Ed Llarena, Jr.
Managing Partner
Emilla International Consulting Services
From Philippines, Parañaque
Acknowledge(0)Amend(0)Engage with peers to discuss and resolve work and business challenges collaboratively. Our AI-powered platform, features real-time fact-checking, peer reviews, and an extensive historical knowledge base. - Register and Log In.
4.5B Changing an Existing Position.doc
L and R Initial Position-1.zip