Competency 2: Evaluate the components and implementation of base-pay programs, business and finance homework help

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Ryvmnorgu Z

Business Finance

Description

Prepare a short description of each of three methods of job evaluation, including each method's main features, essential weaknesses, and a situation in which it would not be effective for a business.

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

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  • Competency 2: Evaluate the components and implementation of base-pay programs.
    • Examine the weaknesses of the ranking method for evaluating jobs.
    • Examine the weaknesses of the classification method for evaluating jobs.
    • Examine the weaknesses of the point method for evaluating jobs.

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Running Head: METHODS OF JOB EVALUATION

Methods of job evaluation
Student’s Name
Institution’s Name
Date

1

METHODS OF JOB EVALUATION

2

Methods of job evaluation
1. Ranking method
DeMarco (2004) highlighted that ranking as a method of job evaluation can take place
either through ordering, weighting or paired comparison. It constitutes discerning the various
types of jobs in an organization (ordering). Then you carry out a comparison of the jobs against
one another to determine the most critical ones (weighting). In response, judgments are made
based on the skills, efforts, responsibility and working conditions of a certain job hence revealing
its worthiness to the organization (paired comparison). Subsequently, ranked jobs to the company
are grouped to determine their appropriate remuneration.
Nevertheless, ran...


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