Lecture 2 Readings.docx

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Business Administration
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Business Administration 2257

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Lecture 2 Readings: Chapter 2: Pages 66-75 Job Evaluation: the process of determining the monetary worth of a job (the job itself, however, not the worth of a person in the job). Done in two stages: determining internal pay equity and determining external pay equity Internal Pay Equity: involves comparing jobs within an organization to ensure that the people in jobs worth the most money are paid accordingly. The difficulty in this process is determining the worth of each job Step 1: Determine Compensable Job Factors: Compensable Job Factors: factors, such as responsibility and education requirements, that differentiate the relative worth of jobs. Examples: level of responsibility, physical demands, mental demands, education requirements training and experience, working conditions Step 2: Determine the levels for each Compensable Job Factor: The next step is to determine the levels for ea
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