By Richard I. Henderson, Kitty Williams Clarke
This quantity indicates the way to (1) layout and deal with extra effective and potent pay elements for repayment structures and (2) larger converse the what, why, whilst, the place, and the way of the process in order that staff can comprehend and settle for their pay ssytem as a good go back for attempt expended. a brand new bankruptcy discusses serious topics: pay for functionality and overall caliber administration (TQM). If the time has come in your association to advance or enhance its pay approach, this e-book is for you.
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Additional resources for Job pay for job worth: designing, managing, and involving employees in an equitable job classification system
In addition, the pervasiveness of the marketplace and inflationary conditions result in market variations and constantly changing rates of pay. These two conditions in themselves are sufficient to limit the value of any plan that uses dollars and cents as the primary measuring scale for determining relative job worth. Using the factor-weighting process in the Benge method, it is extremely difficult to allocate a specific dollar and cents pay rate among five or more factors of a specific benchmark job.
Overall, the system is cumbersome, difficult to understand, and leads to inconsistency in evaluation. The most important document developed in a position classification plan is the classification standard. It describes knowledge requirements, major responsibilities and duties, and basic qualifications for a class of jobs. The narrative becomes long and complex because it must provide data in sufficient detail to differentiate the various jobs included within the particular class. Page 13 Other Qualitative Methods Other compensable-factor methods that use a narrative format for describing compensable factors include Elliot Jaques' Time Span of Discretion (TSD) Method.
The point-factor method also does not require the allocation of a certain amount of money to the various factors of the plan or the determi- Page 16 nation of how much of that share should be further allocated to a specific job relative to the importance or value of the factor in the design and operation of the job (as is necessary in the factor comparison method). Point-scored degrees describe the magnitude of differences or levels of difficulty existing within a compensable factor. The Hay Plan In the mid- to late 1940s, Edward N.