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In this article, we will focus on the point method, which is a quantitative method that assigns points for each job. Points are awarded based on predetermined weights and scales for several compensable factors, and the sum of the points for each job will result in its comparable worth.
Four common job evaluation methods are the ranking method, job classification, the factor comparison method, and the point-factor method. Other well-known methods include market pricing and Hay job evaluation system.
2 Ιαν 2020 · The point factor method is a quantitative technique to evaluate individual jobs and/or job groups based on elements that are essential to an organization’s operations and success and set appropriate pay rates.
Four primary methods of job evaluations used to set compensation levels are point factor, factor comparison, job ranking and job classification. Historically, job evaluations were...
There are several job evaluation methods; the two most common methods are explained below. Point method. The content of jobs can be described in terms of factors.
Job Evaluation: Point Method. A set of compensable factors are identified as determining the worth of jobs. Typically the compensable factors include the major categories of: Skill. Responsibilities. Effort. Working Conditions. These factors can then be further defined. Skill. Experience. Education. Ability. Responsibilities. Fiscal. Supervisory.
Learn how to conduct job analysis, choose the right methodologies, create grade levels, manage change, and leverage job evaluation data for compensation planning and talent mobility. Get best practices on point factor evaluation, job ranking, job classification, grading systems, pay equity analysis, and change management.
