DETERMINING COMPENSATION THROUGH JOB EVALUATION
Before the introduction of performance management systems in organizations, job evaluation was the only option, based on which compensation design used to be done. Job evaluation helps us to understand the individual worth, and it is widely used. It is the process of determining the worth of one job in relation to that of another without regard to the personalities. It analyses and assesses the content of jobs, to place them in some standard rank order. The end-result is used as the basis for a fair and logical remuneration system.
A properly devised job evaluation scheme provides management with definite, systematic and reliable data for working out wage and salary scales. Thus, logical wage negotiation ...
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