Introduction Due to the evolution of the contemporary business world, companies are continuously searching for specialised ways for constructing a workforce, which actually helps them to deal with the changing economic perceptions. Edwards (2012) proposed that job creation and inflation related to various goods and services are mainly responsible for developing a climate requiring the useful involvement of a suitable human resource plan in the right place for the majority of corporations of modern day. In this particular scenario, it is constructive for the human resource managers to determine the job worth, which can be performed by conducting a job evaluation based on the current market needs (Day, 2012). It is observed that the certain implication of the process encourages the organization to achieve success along with the other potential contributions from the information documented through the extensive research. In order to achieve the organizational aims productively, the management must need to adopt a market-driven approach for luring the talents from the market, recruiting them to the company, and retaining them with the workforce (Kinyili, Karanja, & Namusonge, 2015). However, there is a significant level of difference between the market-driven job evaluation and job worth system regardless of their mutual connection with the workforce development. Therefore, this paper is formed with the aim of developing a suitable discussion regarding the ‘Market-driven Job Evaluation vs. Job Worth’ for elaborating critical understanding on what the organizations should need to exercise internally or externally. Similarities And Differences Between Market-Driven Job Evaluation And Job-Worth System Of Job Evaluation As dictated by day (2012), companies from the modern day environment are always looking for a sustainable niche, which might contribute to their survival in the respective marketplaces. By the investigation regarding the historical timeframe, it is observed that the organizations are going through an ever changing redesigning process from both internally and externally for countering the risks associated with the market settings (). With reference to the identified fact, often the organizations can be seen designing new jobs, placements, and classifications in accordance to the needs of its customers or organizational strategies. Furthermore, companies may create an entirely innovative division for just in place for addressing the new trends, technologic needs, and development requirements for the corporation. From the above understanding, it can be assumed that the job evaluation techniques are followed for brewing a more personalised product or service and offering them to the customers for enriching their buying experience (Effort, 2013). Here, Kinyi and Karanja (2015) have indicated the suggestion provided by the talent management experts Susan Cantrell and David Smith to ensure the introduction of a revolutionary new system for m ...

1. Introduction
Due to the evolution of the contemporary business world,
companies are continuously searching for specialised ways for
constructing a workforce, which actually helps them to deal
with the changing economic perceptions. Edwards (2012)
proposed that job creation and inflation related to various goods
and services are mainly responsible for developing a climate
requiring the useful involvement of a suitable human resource
plan in the right place for the majority of corporations of
modern day. In this particular scenario, it is constructive for the
human resource managers to determine the job worth, which can
be performed by conducting a job evaluation based on the
current market needs (Day, 2012). It is observed that the certain
implication of the process encourages the organization to
achieve success along with the other potential contributions
from the information documented through the extensive
research. In order to achieve the organizational aims
productively, the management must need to adopt a market-
driven approach for luring the talents from the market,
recruiting them to the company, and retaining them with the
workforce (Kinyili, Karanja, & Namusonge, 2015). However,
there is a significant level of difference between the market-
driven job evaluation and job worth system regardless of their
mutual connection with the workforce development. Therefore,
this paper is formed with the aim of developing a suitable
discussion regarding the ‘Market-driven Job Evaluation vs. Job
Worth’ for elaborating critical understanding on what the
organizations should need to exercise internally or externally.
Similarities And Differences Between Market-Driven Job
Evaluation And Job-Worth System Of Job Evaluation
As dictated by day (2012), companies from the modern day
environment are always looking for a sustainable niche, which
might contribute to their survival in the respective
marketplaces. By the investigation regarding the historical

2. timeframe, it is observed that the organizations are going
through an ever changing redesigning process from both
internally and externally for countering the risks associated
with the market settings (). With reference to the identified fact,
often the organizations can be seen designing new jobs,
placements, and classifications in accordance to the needs of its
customers or organizational strategies. Furthermore, companies
may create an entirely innovative division for just in place for
addressing the new trends, technologic needs, and development
requirements for the corporation.
From the above understanding, it can be assumed that the job
evaluation techniques are followed for brewing a more
personalised product or service and offering them to the
customers for enriching their buying experience (Effort, 2013).
Here, Kinyi and Karanja (2015) have indicated the suggestion
provided by the talent management experts Susan Cantrell and
David Smith to ensure the introduction of a revolutionary new
system for managing people within the organization adeptly.
The particular system exerted by the experts was known as
‘Workforce of One’ eliminating the generic approaches for
responding to the workforce requirements while leveraging
more on the development of a highly nuanced and customised
system for every employee (Edwards, 2012). The result of the
study reflects the formation of a new relationship between the
employees and the organizations. Kinyi and Karanja (2015) has
further investigated the fundamental outcomes of such process
and come up with the findings that the core application of the
modified approach lowers the rate of employee turnover,
maximiss the productivity, and enhances profit margin across
the organizations. The job-worth evaluation sufficiently
contributes the the achievement of proposed goals of the
identified system.
On the other hand, a market-driven evaluation is principally
performed by the team responsible for managing performance of
the workforce (Bamberger, Biron, & Meshoulam, 2014). As part
of the process, a systematic methodology is organised by the

3. team with the intention of overseeing the primary requirements
for each department and unit within the corporation. Effort
(2013) has indicated some unique factors regarding the roles
played by the performance management team. According to the
investigation of the identified literature, performance
management system is responsible for creating job reports
according to the evaluation standards when they notice the need
of another department or position for supporting the alleviation
of the assessed burden faced by the other divisions. The same
process is applied for engendering resolutions for the
complaints raised by the customers as well (Kerzner, 2013).
Therefore, the identified scenarios give rise to the job
evaluation process by setting the standard criteria, which are
ultimately submitted at the annual conference held by the
company.
Most importantly, it is worthy enough to mention that job
assessment done by following the job worth system deals with
the specific worth of an employee’s position while determining
quantity of compensations for acquiring the identified position
(Ulrich, 2013). Hence, job worth is momentously important for
the companies to follow for providing a justifiable position to
the employees during the lines of inflation, pay rates, and cost
of living. Edwards (2012) has explained that a regular
supervision by the performance management department helps
them to determine whether there is a need for increase within
the hired position of a certain department.
From the overall analysis, the fundamental similarity between
Market-driven and job-worth is improving the capabilities of
the organization for satisfying the differing needs of customers
as well as employees. However, the major difference between
the two systems is that internal equity is maintained by job-
worth, where market-driven approach reflects how external
environment is affecting the organizational position (Purce,
2014).
Example Of Each Approach And Their Rationale
The significant rise of job-worth is caused due to the volatility

4. of the current business environment influenced by exchange rate
fluctuations or inflation of products or services (Tyson, 2014).
Different industries from the global platform may it be retail,
information technology, or food and beverage sectors are all
continuously devoted to achieving the prominent share of
growth from their target market. According to Kerzner (2013),
the growth objectives of different firms are largely dependent
on considering an evaluation for determining the necessity of
employee growth, pay rises, and workforce retention. The
rationale behind the process is simply based on defining and
developing a balance supply and demand where the prominence
is provided to the implementation and development (Goetsch &
Davis, 2014).
On the other hand, listening minutely and fulfilling the
requirements of consumers should be the foremost priority of a
business irrespective of its operations under a small and
medium enterprise or the major corporate guidelines. Such a
scenario cause the application of a market-driven approach, as
the process encourages the company to use a ’Consumer Price
Index (CPI)’ for scrutinizing the needs of market consumers and
supporting the measurements associated with the different areas
of the company (Mathis, et al., 2016). For example, the need for
modifications to the specific product, service, or department can
be categorised as the market-driven approaches. The overall
explanation of the two different concepts can be suitably
clarified through an example. In the short run, monetary policy
highly influences inflation and the nation-wide demand for the
product and service. The given situation raises demand for the
capable employees who can deliver quality products and
services to the customers while drives the organization to
undertake the job-worth evaluation to attract those talents and
satisfy the complicated demands for promoting the financial
standing of the business (Tyson, 2014).
Conclusion
From the rationale obtained through the typical arguments and
comparisons rendered throughout the paper, it can be

5. determined that consumers and employees are two principal
factors that the company should leverage upon to ensure the
smoothness in whole business functionality. Consumers
determine the market-driven approach for the companies
whereas employees represent the job-worth evaluation.
Consumers are the ones setting the bar for enterprises regarding
its future operations like the ways it will induct to hire
employees and the type of goods and services produced for
consumption. On the other hand, the corporation needs to stress
on its internal environment to improve the job positions for its
employees for continuously meeting the diverse needs of
customers. It is vital for the firms to take suggestions from the
performance management experts to satisfy the consumer
demands alongside the employee concerns prosperously. The
simultaneous presence of both types of job evaluation
ultimately leads the organization to provide assistance on
analysing and creating jobs.
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