Factor Comparison Method Like the Point-Factor Method, this strategy has job factors identified under primary groups, and each factor is assigned a dollar value as opposed to a point value. Ranking Method: It is a simple method of job evaluation. Job Evaluation Factors For Out-of-Scope Employees Last revised: January 2021 Last reviewed: May 2017 Next review: May 2018 Following is a brief outline of the aspects each factor assesses. Ideally, the job description defines the skills and experience required to perform the tasks, regardless of who does the work. For example, Table-2 shows that the skill factor in the context of job evaluation has three sub factors: education and job knowledge, experience and traini ng, and initiative and ingenuity. Each of the factors associated will be divided into levels or degrees that are Every job evaluation method requires at least some basic job analysis in order to provide factual information about the jobs concerned. Factor Comparison Method and 4. Although the outcome of job evaluation should be the same for any method the process might have to be adapted slightly for 3. Point Method is used for job evaluation. POINT METHOD IN JOB EVALUATION Group 2 Elsy Wahyuni 1210932007 Nur Putri Hidayati 1210932013 Fitryani Zulkhaira 1210932043 Sarvina 1210932002 Gesti Astria 1210932066 Fitri Fakhrun Nisa 1210932019 Fiwidya … Job evaluation seeks to rank all the jobs in the organization and place them in a hierarchy that will reflect the relative worth of each. As this tends to be more complex Submitting the position questionnaire to the administrators to determine their responsibilities, knowledge, work2. Point–Factor Method This approach identifies job factors that add value and worth to a position. This job evaluation plan incorporates some compensable factors, factor definitions, degree level descriptions, and other language included in and/or derived from the Department of Labor’s Guide for Evaluating Your Firm’s Jobs and It requires identifying several compensable factors (like skills and responsibility) each with several degrees and also the degree to which each of these factors is present in the job. Thank you! But even so, point-factor methods are the most common forms of analytical job evaluation, with the International Labor Organization’s Scheme of Geneva from 1950 a popular though out-dated example of point-factor-based job They are:- 1. The process of the point-factor job evaluation method included the following components: 1. Point-Ranking Method: Under this method, each job’s key factor is identified and then the subfactors are determined. Ranking Method 2. As originally developed this method involves ranking of jobs in respect of certain factors and usually involves the assigning of money wages to the job depending upon the ranking. Point method of job evaluation is widely used in business organisations. Jobs can then be banded into grades, and the grades used to determine pay.PFA is a type of job evaluation; the main advantage of PFA is that it is systemic and analytical. Factor It is flexible also and has not upper limit on the rating that a job may receive on a factor. Each degree is assigned a different number of points of different factor. It identifies certain number of factors i.e. 3. Job Grading Method: Also known as Job-Classification Method. Point factor analysis (PFA) is a systemic bureaucratic method for determining a relative score for a job. Examples • a dog pound attendant was rated more highly than a child care worker • zookeeper rated more highly than day care worker Point Method of Job Evaluation Advantages of using the point method 1. The These factors, their definitions and possible answers, may be adapted in order to stick as closely as possible to the reality of the company in which the process takes place. In this session…. The point factor method is the most commonly used approach to job evaluation. The point method is widely used. Ranking System. The point method is based on one or several questionnaires that contain an evaluation scale for each of the considered compensation factors. Point-Rating Method. Typically the number of compensable factors is small (4 or 5). Job Evaluation: Methods: Factor Comparison A set of compensable factors are identified as determining the worth of jobs. For Example Class, I, comprise of the managerial level people under which sub-classification is done on the basis of the job roles such as office manager, department managers, departmental supervisor, etc. The Factor Comparison Method - This method is a combination of the ranking and point system. FIGUREH Meritor Seniority (orboth) Baserate 549678LaborGrades CHARTn NomeofJob Labor Grade BasePayIncentivePay (average) TotalPay Janitor Latheoperator Toolmaker 4 6.95-1.05 1.25-1.45 1.40-1.60 Non-incentive.31-.35.35-40 Job Evaluation Explained Many large organisations make use of Job Evaluation (JE) to inform their pay strategies, and the MoD has used JE since 1970 to deliver a ‘consistent and systematic means of defining relativities between Job Evaluation Revisited: The Point Factor Method: The point factor method of job evaluation consists of a large number of discretionary decisions that result in something that appears to be entirely objective and, even, scientific It breaks down jobs into compensable factors identified above. The most prevalent one, the Point Factor Plan, uses a quantitative approach that will be explained in this guide. 4. These sub-factors are then assigned the points by its importance. Six main and 17 sub-factors were chosen for the evaluation. Talent Pool Potential This method identifies four primary compensable factors used to determine pay . The advocates of factor comparison method point out that it usually results in accurate job evaluation because it is relatively more objective because weight are not selected arbitrarily. These factors include: Under this method the job grades or classes are predetermined and then each job is assigned to these and is evaluated accordingly. Also learn about, the computer-based The hourly rate is divided into pay for each of the Point method in job evaluation ppt 1. It helps in evaluating jobs by giving a detailed, analytical and quantitative evaluation. With competition outside firms increasing, external labor market price has more and more influence on internal labor market price since[1]. ADVERTISEMENTS: Read this article to learn about the following four methods of job evaluation, i.e., (1) Ranking Method, (2) Grading Method, (3) Point Method, and (4) Factor Comparison Method. Points Rating System. Under ranking method a committee is constituted. Let's see how it works. The point factor method uses specific factors to determine the relative value of a job compared to the others in the organization. Factor Identification A factor is a major classification category that identifies aspects of a job for which the business is willing to pay. Job Classification or Grading Method. It is an analytical and quantitative method which determines the relative worth of a job on the basis of points alloted to each specific factor of a job. We’ll look at the four major methods used in job evaluation and the advantages/disadvantages of each Job Ranking Method Job Classification Method Point Method Factor Comparison Method 3. Please ensure that you read the notes 1. Thus, job evaluation begins with job analysis and ends at that point where the worth of a job is ascertained for achieving pay equity between jobs and different roles. Point Factor This method of Job Evaluation is commonly used for quantitative purposes. For example, the key factor to perform a job Learn about the non analytical and analytical methods of job evaluation. various characteristics of jobs and the determining degree to which the ease of such factors is present in the job. Training 3. Point factor method is most representative and most widely used job evaluation method. The job factors are separated into groups (i.e., skill, responsibility, effort) and assigned a numerical or weighted point value. A job evaluation determines its value relative to other jobs in a company or industry. The point method provides a comparable viewpoint to factors method by the usage of the factor comparison to effectively perform a job evaluation. In this guide we use the Hay or Point method, this is the most common method for job evaluation. There are several job evaluation methods from which to select. Training 3. Thomas E. Hitten was the first to originate factor comparison method of job evaluation. Job Classification Method 3. basis of their job descriptions by making use of the above factor plan, and a nal rank order was established according to the total point values. With this method… Adjusting salary structure 2. Methods of Job Evaluation Job-evaluation methods are of two categories:- a) Analytical Methods Point Ranking Methods Factor Comparison Method b) Non-analytical Methods Ranking Method Job-grading Method Non-analytical Methods Ranking and job-classification methods come under this category because they make no use of detailed job factors. 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. 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