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The document discusses traditional approaches to compensating employees, including achieving internal and external equity. It describes job evaluation methods like ranking, classification, and point factor analysis to determine the relative worth of jobs. Market data is then analyzed and internal job worth is reconciled with external market pay to develop an organizational pay structure. Emerging approaches to compensation like broadbanding, team-based pay, and skill-based pay are also mentioned.
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IWLA webinar presentation ver4
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- Total Cost of Ownership Modeling for Staffing and Labor Management
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Books:
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Selection is the most important function of HR as it ensures an organization hires the right people for the right jobs at the right time. The selection process involves multiple steps including preliminary interviews, tests, employment interviews, reference checks, physical examinations, and job offers. Different selection tools are used such as application forms, interviews, aptitude tests, and personality tests. An effective selection process is important as it provides qualified workers, reduces training costs, and avoids personnel problems.
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This document discusses various aspects of the recruitment process, including defining recruitment, outlining the typical steps such as developing job requisitions and identifying candidates. It also examines recruitment policy, the options for centralized vs decentralized recruitment organization, sources of recruitment including internal and external options, and common methods like referrals, employment agencies, and advertising. The goal is to provide an overview of establishing an effective process for attracting qualified candidates to fill open positions.
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The document discusses various job evaluation methods, including ranking, classification, factor comparison, and point methods. It provides details on the advantages and disadvantages of each. It also provides an in-depth explanation of the Hay Guide Chart-Profile Method, including the three factors it uses (know-how, problem solving, and accountability) and how jobs are evaluated using questionnaires and a committee. The document outlines steps taken, such as periodic retraining and correlation studies, to ensure the Hay system is applied fairly. It explains how Hay points are used to determine salary ranges but do not directly impact individual salaries.
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M comp
- 9. The Traditional Approach to Compensation Job Analysis Job Documentation Prepare to Job Rating Survey Conduct Create Job Survey Worth Hierarchy Analyze Market Data Reconcile Internal and External Considerations Develop Pay Structure
Editor's Notes
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