Human Resources
Job Evaluation, Market Pricing & Pay Structures
Job evaluation is a division of the salary management practice. It is a methodical examination of the relative demands that work places on a worker. Job evaluation results in a relative ranking of positions. This position, frequently expressed in terms of salary grades, is the foundation for the classification of salary ranges (Hilling, 2003). Market pricing is an organization of gathering data on the pay rates for comparable jobs in other companies to set up their market rate or price and track movements in those rates. The objective of the process is to help set the organization's own pay rates at the suitable level in order to employ and retain the personnel it desires (Graebner & Seaweard, 2004). While market pricing has forever been the foremost way that companies establish their pay levels, the lack of valuable survey data has been a problem in the past. When there is a reasonable quantity of market information, it is possible to place jobs into grades based on the level of the competitive pay for the assorted jobs. Usually, a simple ranking process is used to slot the positions without market data into a structure.
Market pricing uses external sources in order to assign value to a company's jobs, while job evaluation, is a systemic approach used to evaluate and value jobs within an organization. Job evaluation gives one a common language to talk about the jobs in an organization, and to create job hierarchy. This common language translates all the different jobs to some kind of point factor, number or grade. Even though...
Education Over the last several years, the field of education has been continually changing. This is because the public is demanding greater amounts of accountability. For the Library and Media program, this means that there must be a focus on providing additional resources in an era of declining budgets. The key for dealing with these challenges requires that everyone have a sense of leadership and vision. To fully understand how these
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