HRM 3420 Lecture Notes - Lecture 7: Human Capital, Job Analysis, Comparator
10 Apr 2016
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Ranking system method for job evaluaion to determine base pay: Disadvantage: you can determine which jobs are important but not know exactly how much more important one is over the other. 5 phase pieces strategic point method for base pay: strategic orientaion: igure out what the intent is and what the organizaion is trying to do. Determine mission, vision and values then ie them to compensaion goals (pay for quality, pay for innovaion, pay for customer service etc. ) Do a job analysis to come up with job descripion to come up with job speciicaions. Job speciicaions: skills, educaion, etc. that someone would need to do the job. Compensable factors: key aspects of the job that are important to it (skill, efort, responsibility and working condiions the broad compensable factors to assess all jobs in the organizaion) Broad compensable factors are broken down into subcategories e. g. skill includes: educaion, experience, knowledge etc.
