The document discusses various job evaluation methods including ranking, classification, point method, and factor comparison. It provides details on the procedures, advantages, and disadvantages of each method. The point method is described as the most structured approach where jobs are evaluated based on compensable factors and assigned point values. The document provides an example of applying the point method to evaluate the positions of Engineering Manager and Assistant Engineer.
Understand and Differentiate between strategic recruitment and selection.
Identify the dual goals of recruiting.
Comprehend recruitment process from organizational as well as individual perspective.
Identify what strategic decisions are involved in recruiting.
Explain the major recruitment methods and analyze their advantages and disadvantages.
Identify the basic selection criteria.
Design and administer an effective selection process.
Evaluate the three methods e.g., information gathering, tests and interviewing used in employee selection.
Appreciate varied contemporary interviewing techniques used by interviewers.
Design interview form and evaluation matrix.
Employees need to be compensated for their efforts based on volume of time or volume of production. Compensation refers to all forms of financial rewards received by employees. It arises from their employment. It occupies an important place in the life of the employee. It is a considerable cost to the employer. Compensation dissatisfaction can lead to absenteeism, turnover, job dissatisfaction, low performance, strikes and grievances. Majority of labor-management disputes relate to compensation.
Understand and Differentiate between strategic recruitment and selection.
Identify the dual goals of recruiting.
Comprehend recruitment process from organizational as well as individual perspective.
Identify what strategic decisions are involved in recruiting.
Explain the major recruitment methods and analyze their advantages and disadvantages.
Identify the basic selection criteria.
Design and administer an effective selection process.
Evaluate the three methods e.g., information gathering, tests and interviewing used in employee selection.
Appreciate varied contemporary interviewing techniques used by interviewers.
Design interview form and evaluation matrix.
Employees need to be compensated for their efforts based on volume of time or volume of production. Compensation refers to all forms of financial rewards received by employees. It arises from their employment. It occupies an important place in the life of the employee. It is a considerable cost to the employer. Compensation dissatisfaction can lead to absenteeism, turnover, job dissatisfaction, low performance, strikes and grievances. Majority of labor-management disputes relate to compensation.
In this file, you can ref useful information about problems in performance appraisal such as problems in performance appraisal methods, problems in performance appraisal tips, problems in performance appraisal forms, problems in performance appraisal phrases … If you need more assistant for problems in performance appraisal, please leave your comment at the end of file.
System of Compensating (Time Wage Plan, Piece Wage Plan, Balanced Wage Plan, Skill Based Pay, Competency Based Pay, Broad-banding, Variable Pay, Merits of Time Wage, Demerits of Time Wage,Time Wage Plan Environment, Merits of Piece Wage, Demerits of Piece Wage, Piece Wage Plan Environment, Merits of Balanced Wage, Factors Affecting Wages)
New Trends in Compensation Management (Group Mediclaim/Insurance Scheme, Personal Accident Insurance Scheme, Company Leased Accommodation,
Recreation/ATM facilities, Corporate Credit Card,
Club memberships, Cellular Phone/Laptop,
Personal Health Care, Loans, Educational Benefits, Regular Get together and other cultural programs, Wedding Day/Birthday Gift, Employee Referral Scheme, Maternity Leave, Paternity Leave, Work-life Balance, Pay Transparency, Broad banding,Variable Pay (Incentive Pay),
Flexible Benefits
Concept of Reward and Total Reward System, Five Elements of Total Rewards (Compensation, Benefits, Work-Life, Performance & Recognition, Developmental & Career Opportunities)
Concept of Compensation, Exploring & Defining Compensation Context (Strategic Compensation, Total Compensation, Extrinsic Compensation, Intrinsic Compensation, Components of Compensation, Factors Influencing Compensation, Wage and Salary, Incentives, Fringe Benefits, Perquisites, Govt. Regulations for Compensation in India, Minimum Wage, Fair Wage, Living Wage, Calculation of Minimum Wages)
Compensation Dimensions (Payment for Work and Performance, Payment for Non-working Days, Loss of Job Income Continuation Benefit, Disability Income Continuation Benefit, Deferred Income, Spouse/Family Income Continuation Benefit, Health, Accident and Liability Protection, Income Equivalent Payments)
Building Market Competitive Compensation System – Integrating Internal Job Structure with External Market Pay Rates: Compensation Surveys, Choosing Compensation Survey Conducted by Third Parties
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
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What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
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3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
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Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
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Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
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"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
5. Ranking Method
Examines job description and arrange jobs according to
value to company e.g. highest to lowest
Ranks each job relative to all other jobs, based on some
overall factor
Most basic method; used for small firms
Uses subjective ratings on single criterion (e.g., job
complexity)
5
6. Classification Method
Classes or grades are defined to describe a group of jobs
Mainly for government jobs
18 factors may be used to score jobs
General, Professional and Executive Schedules
7. Point Method
Breaking down jobs on identifiable criteria and the
degree to which these criteria exist on the job
More complex - points assigned to compensable factors
and sub-factors
More structured, thus easier to defend
Hay System most well known and most complex
8. Advantages & Disadvantages of Ranking,
8
Classificatin & Point Methods
Advantage Disadvantage
Ranking Fast, simple, easy to Cumbersome as
explain. number of jobs
increases. Basis for
comparisons is not
always acceptable.
Classification Can group a wide range of Descriptions may
job together in one system. leave too much room
for manipulation.
Point Compensable factors call Can become
out basis for comparisons. bureaucratic and rule-
Compensable factors bound.
communicate what is
valued. 1/5/2008
9. Steps in Ranking Methods
• Steps in job ranking:
– Obtain job information
– Select and group jobs
– Select compensable factors
– Rank jobs
– Combine ratings
9
11. Advantages & Disadvantages Ranking
Method
Advantages Disadvantages
Simple Comparisons can
“Straight” method ranks be problematic
“highest”, then next “highest”, depending on
then next “highest” and so on number and
“Alternation” method ranks complexity of jobs
“highest” then “lowest,” then May appear
next “highest,” then next arbitrary to
“lowest” and so on employees
“Paired comparisons” method Can be legally
picks highest out of each pair challenged
Fast Unreliable
Most commonly used
Thursday, September 20, 2012 11
13. Classification
Like library Class I
classification Simple work, no supervisory
system responsibility, no public
Define categories contact
and then compare Class II
job against Simple work, no supervisory
categories responsibility, public contact
Class III
Medium work complexity, no
supervisory responsibility,
public contact
13
14. Advantages & Disadvantages of
Classification Method
Advantages Disadvantages
Uses job families/groups Not useful when jobs are
instead of individual jobs very different from each
May produce same results other
as Point Method, but is May be confusing to
less costly employees about why jobs
are included in a class
Thursday, September 20, 2012 14
15. Factor Comparison
Compensable Factors are identified as
determining worth of jobs
Mental requirements,
Physical requirements,
Skill requirements,
Responsibility and
Working conditions
Thursday, September 20, 2012 15
16. Steps in Factor Comparison
Method
Analyze Jobs
Select Key Jobs
Rank Key Jobs
Distribute Wage Rates Across Factors
Compare Vertical and Horizontal Judgments
Construct the Job-Comparison Scale
Use the Job-Comparison Scale to Evaluate the
Remainder of the Jobs
Thursday, September 20, 2012 16
17. Factor Comparison Method
Hourly rate is divided into pay for each of
the following factors:
Hourly Pay for
Pay for Pay for Pay for
Rate Working
Skill Effort Responsibility
Job (Rs.) Conditions
Secretary 9.00 4.50 2.00 2.00 0.50
Admin
11.00 5.50 2.50 2.50 0.50
Assistant
Supervisor 15.00 6.00 3.50 4.00 1.50
Manager 21.00 9.00 3.50 7.00 1.50
17
18. Advantages & Disadvantages of Factor
Comparison Method
Advantages Disadvantages
Customized to the Using Rupee values may
organization bias evaluators by
Relatively easy to use once assigning more money to a
it’s set up factor than a job is worth
Results in ranking of jobs Hard to set up
and a specific rupee value Not easily explained to
for each job, based on employees
allocating part of the job’s
total wage to each factor
Thursday, September 20, 2012 18
19. Steps in Point Method
1. Select Benchmark Jobs
2. Choose Compensable Factors
3. Define Factor Degrees
4. Determine Weight of each Factor
5. Determine Point Values
6. Verify Factor Degrees and Point Values
7. Evaluate All Jobs
20. Benchmark Jobs
“Generic” jobs with similar and agreed upon
characteristics
Relatively stable
Represent entire range of jobs in company
Generally accepted in the labour market for
purposes of setting pay levels
21. Compensable Factors
Compensable factors are identified as
determining worth of jobs
Major compensable factors
- Skill
- Responsibilities
- Effort
- Working Conditions
Custom factors
Sub-Factors
21
24. Factor Degrees/Levels
Provides levels within each factor or sub-factor
Best to define each level in job-specific terms
Fewer degrees required if system only needs to
cover a smaller range of jobs
Weight of each Factor to be determined
25. Factor Degrees/Levels
Scale that reflects differing quantity or quality of the
factor
Used to differentiate jobs on the factor
Clear and unambiguous definition
Contains explicit language that spells out the
behaviours, skills, or performance expectations
for the factor at different levels
25
26. Responsibility at Various
Levels
Employee responsibility for conserving
company’s equipment and material
Level-1
Employee reports malfunctioning of equipment or defective
materials to immediate superior
Level-2
Employee maintains appearance of equipment or order of
material and has responsibility for security of such
equipment or material
26
27. Responsibility at Various
Levels
Level-3
Employee perform preventive maintenance and minor
repairs on equipment or corrects minor defects in material
Level-4
Employee perform major maintenance or overhauls of
equipment or responsible for deciding type, quality and
quantity of material to be used
27
28. POINT VALUES
1. Maximum number of points may be assigned:
500-3000
2. Number must be large enough to allow
sufficient differentiation among jobs
3. In case of wide spread between current wages of
highest paid & lowest paid job, the maximum
number of points need to be higher
4. If more than one pay system chosen, number of
points or actual factors do not have to be same
in each one
28
29. Point Values to Factors
Education
Working Conditions
1. Job requires post graduate degree
1. Hazardous work: 2. Job requires bachelors degree
deals with dangerous 3. Job requires high school
materials or working education
conditions Effect of Error
2. Uncomfortable work: 1. Major mistake-more than
loud, hot, cold or dirty Rs.500,000
2. Major mistake-more than
3. Good working Rs.100,000
conditions: 3. Major mistake-less than
Rs.99,999
office environment - air
conditioned, good 1=10 points, 2=8 points, 3=5 points
lighting 29
30. POINT VALUES TO FACTORS
Factor Point values for Degrees
Total 1 2 3 4
Skill 45 90 135 180
450
Physical effort 25 50 75 100 250
Mental effort 35 70 105 150 360
Responsibility 25 50 75 100 250
Working conditions 20 40 60 80 200
Maximum total points of all factors depending on their importance to
job=1510
30
34. Advantages & Disadvantages
of
POINT METHOD
Advantages Disadvantages
Highly stable over time Time, money, and effort
Perceived as valid by users required to set up
and employees Relies heavily on key
Likely to be reliable among (benchmark) jobs, so if key
committee that assesses the jobs and correct pay rates
jobs don’t exist, the point method
may not be applicable
Provides good data to prepare
a response to an appeal
34
35. 35
Hay’s Method - Process
KNOW-
KNOW- PROBLEM
PROBLEM Job
+ + ACCOUNTABILITY
ACCOUNTABILITY =
HOW
HOW SOLVING
SOLVING Size
Depth & Range Thinking Freedom
of Know-How Environment to Act
Planning & Thinking Nature of
Organising Challenge Impact
Area of
Communicating &
Impact
Influencing
(Magnitude)
36. Hay’s Method – 3 Factors
36
1
1 2
2 3
3
Jobs exist to To achieve this end Job holder requires a level
result, job holders of knowledge and
achieve an end
must address experience commensurate
result
problems, create, with scale and complexity
analyse and apply of the result
judgement Know-How
Problem Solving Problem Solving
Accountability Accountability Accountability
Editor's Notes
Uses minimum amount of factors from benchmark jobs Match rest of jobs to these factors based on fit Once all jobs are fitted into categories they are ranked by difficulty. Method assumes equivalency within categories and equal distances between categories EXAMPLE: “Grade IV includes all positions that involve computerized functions and that require basic knowledge and skill in written communication. Grade V includes all positions that require some independent judgment, confidentiality, interpersonal skills, but that has no direct supervisory responsibility.”