2. Four basic methods have traditionally been used: ranking, classification, factor comparison, and point-rating. The most common are job ranking, factor comparison, point evaluation and job comparison methods. Factor comparison is systematic and scientific method designed to carry out job evaluation which instead of ranking job as a whole, ranks according to a series of factors. /F3 12 0 R 0 Skill, physical and mental effort, responsibility and working conditions are the main factors used. The objective of job evaluation is to determine which jobs should get more pay than others. Job classification. Factor Comparison or Weight-in-Money Method. Obtain job information Step 2. Points were assigned to each job class based on the following factors and subfactors: Table 2: Gender neutral job comparison system Point factor method is most representative and most widely used job evaluation method. 4. Though it is the most complex method of all, it is consistent and appreciable. It requires specialists to compare job descriptions with the point manual for each sub-factor. This method is a combination of the weighted point and factor comparison methods. /Resources << In the point factor analysis method (also called point method) of job evaluation, the organization identifies the compensable fact ors and breaks them down into degrees. This is a grading system. Job evaluation is a systematic process that determines the relative worth of jobs within an organization. /F5 18 0 R Points or weightage are assigned to each factor depending on the degree of its importance in a particular job. - Pay will be assigned in this method by comparing the weights of the factors required for each job. 1. Various types of jobs are performed by employees in an organization. Factor-Comparison Method. /F1 6 0 R Factor Comparison Method. Select key benchmark jobs Step 3. x^�\Y�ܸ~�_я�V�KG����F/v6/A��ػ�x��������U$�E��n��[U��c]���ՏW/��~��؉�����U��?������y�+��L'wS�;�wן������_]}u}�M "wB� zeI(�����8���$�v�(�V�����v/�?גVc�N$:ECwc��PMC�n�� 5�nJEy��e��v����ڽi����yk�?�{�|��[Ѽ�!���Hݭ��ޚT7Z�FT��0�wz��]��*�qq�yH�Fwf� ��a Csh��EJ�ܵbn�v? The point method is an extension of the factor comparison method. (b) Factor Comparison: Under this method, a few key jobs are selected and compared in terms of common factors. Instead of ranking by complete jobs, under the Factor Comparison method evaluators rank each key job by predetermined factors. In this method, each job is given a rank on the basis of a number of factors. This method determines the relative rank of the jobs is evaluated in relation to the monetary scale. EVALUATION SYSTEM page 19.Every job evaluation method requires at least some basic job analysis in order to. >> This method entails the comparison of jobs against other positions within the organization. /Filter /FlateDecode Distribute wage rates by factors Step 5. The Factor Comparison Method - This method is a combination of the ranking and point system. Of all job evaluation methods, the point-factor method is probably the best known. The Hay Guide Charts® are proprietary instruments that yield consistent and legally defensible work evaluations. Hay Group’s job evaluation approach,in fact,is the world’s 3. It is often used in evaluating, the managing administrative and white-collared jobs. %PDF-1.5 In practice, for the job evaluation to be ‘ felt fair (ii) The workers acceptance of the system is favourable because it is more systematic and objective than other job evaluation methods. %PDF-1.6 %���� 836 0 obj <> endobj RANKING METHOD • Simplest form • Each job as a whole is compared with other and this comparison of jobs goes on until all the jobs have been evaluated and ranked. On a high level, the steps for this approach are as follows: Jobs are listed; Evaluation factors are defined; Scoring degrees on these factors are determined ; Per job, points are allocated for each factor; A wage structure is defined The Factor-Comparison Method: Under this method, the job is evaluated, and the ranks are given on the basis of a series of factors Viz. Jobs and employees who perform those jobs are ranked from highest to lowest, depending on their quality and value to the organization. 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