{"id":2177,"date":"2011-06-21T06:31:40","date_gmt":"2011-06-21T06:31:40","guid":{"rendered":"http:\/\/www.yourhrworld.com\/formats\/?p=2177"},"modified":"2011-06-21T06:31:40","modified_gmt":"2011-06-21T06:31:40","slug":"job-evaluation-by-factor-comparison","status":"publish","type":"post","link":"https:\/\/www.yourhrworld.com\/formats\/compensation-and-benefits\/job-evaluation-by-factor-comparison\/","title":{"rendered":"Job Evaluation by Factor Comparison"},"content":{"rendered":"<p><strong>Job evaluation by factor comparison<\/strong><\/p><div class=\"69eb924294c115e6505da44099e8df92\" data-index=\"1\" style=\"float: none; margin:10px 0 10px 0; text-align:center;\">\n<script type=\"text\/javascript\"><!--\r\ngoogle_ad_client = \"pub-0867779017855679\";\r\n\/* 300x250, created 4\/20\/11 *\/\r\ngoogle_ad_slot = \"1035864135\";\r\ngoogle_ad_width = 300;\r\ngoogle_ad_height = 250;\r\n\/\/-->\r\n<\/script>\r\n<script type=\"text\/javascript\"\r\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\r\n<\/script>\n<\/div>\n\n<h4>1. Overview of factor comparison:<\/h4>\n<p>Under this method, instead of ranking complete jobs, each job is ranked according to a series of factors.<\/p>\n<p>These factors include mental effort, physical effort, skill needed, supervisory responsibility, working conditions and other relevant factors (for instance, know-how, problem solving abilities, accountability, etc.).<\/p>\n<p>Pay will be assigned in this method by comparing the weights of the factors required for each job,  i.e., the present wages paid for key jobs may be divided among the  factors weighed by importance (the most important factor, for instance,  mental effort, receives the highest weight).<\/p>\n<h4>2. Advantages of factor comparison:<\/h4>\n<p>\u2022\tRelatively easy to use once it\u2019s set up.<br \/>\n\u2022\tCustomized to the organization.<br \/>\n\u2022\tResults in ranking of jobs and a specific dollar value for each job, based on allocating part of the job\u2019s total wage to each factor.<\/p>\n<h4>3. Disadvantages of factor comparison:<\/h4>\n<p>\u2022\tHard to set up.<br \/>\n\u2022\tNot easily explained to employees.<br \/>\n\u2022\tUsing dollar values may bias evaluators by assigning more money to a factor than a job is worth.<br \/>\n\u2022\tEvery time wage rates change, the schedule becomes obsolete.<\/p>\n<h4>4. Process of factor comparison:<\/h4>\n<p>\u2022\tSelect key jobs <strong>(say 15 to 20)<\/strong>, representing wage\/salary levels  across the organization. The selected jobs must represent as many  departments as possible.<\/p>\n<p>\u2022\tFind the factors in terms of which the jobs are evaluated (such as skill, mental effort, responsibility, physical effort, working conditions, etc.).<\/p>\n<p>\u2022\tRank the selected jobs under each factor (by each and every member of the job evaluation committee) independently.<\/p>\n<p>\u2022\tAssign money value to each factor and determine the wage rates for each key job.<\/p>\n<p>\u2022\tThe wage rate for a job is apportioned along the identified factors.<\/p>\n<p>\u2022\tAll other jobs are compared with the list of key jobs and wage rates are determined.<\/p>\n<p><strong><a href=\"https:\/\/www.yourhrworld.com\/formats\/wp-content\/uploads\/2011\/06\/Job-evaluation-by-factor-comparison.doc\">Click Here To Download Job Evaluation by Factor Comparison<\/a><\/strong><\/p>\n\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Job evaluation by factor comparison 1. Overview of factor comparison: Under this method, instead of ranking complete jobs, each job is ranked according to a series of factors. These factors include mental effort, physical effort, skill needed, supervisory responsibility, working conditions and other relevant factors (for instance, know-how, problem solving abilities, accountability, etc.). Pay will be assigned in this method by comparing the weights of the factors required for each job, i.e., the present wages paid for key jobs may be divided among the factors weighed by importance (the most important factor, for instance, mental effort, receives the highest weight).<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[514,515],"tags":[],"class_list":["post-2177","post","type-post","status-publish","format-standard","hentry","category-compensation-and-benefits","category-job-evaluation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Job Evaluation by Factor Comparison - HR Letter Formats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yourhrworld.com\/formats\/compensation-and-benefits\/job-evaluation-by-factor-comparison\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Job Evaluation by Factor Comparison - HR Letter Formats\" \/>\n<meta property=\"og:description\" content=\"Job evaluation by factor comparison 1. 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