Job evaluation is the process of comparing a job against other jobs within the organization to determine the appropriate pay rate. There are four primary methods of job evaluations used to set compensation levels: point factor, factor comparison, job ranking, and job classification. Historically, evaluations have mainly been internal comparisons of job worth; however, in recent years employers often prefer to use a combination of internal comparisons and external market benchmarking to obtain the most accurate data.
In this assessment, select the most appropriate job evaluation method for the organization you identified in your first two assessments.(Southern Wellness & Care LLC
In a 3–4 page paper:
- Analyze the advantages and disadvantages of each of the four job evaluation methods: point factor, factor comparison, job ranking, and job classification.
- Describe how an employer would use external market benchmarking during the job evaluation process.
- Analyze which job evaluation method would be the most effective for the same company you used as the focus in the previous assessments. Also consider whether you would use internal comparisons of job worth only, or you would use a combination of internal comparisons and external marketing. Justify your reasoning.