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Abstract This study compares the relative accuracy and practical utility of seven different job evaluation approaches. Results of 657 position evaluations indicate that traditional and hybrid systems are at least as accurate, reliable, and objective in predicting grade level as are statistical policy-capturing methods when based on a standardized job analysis tool. Journal Information The Academy of Management Journal presents cutting edge research that provides readers with a forecast for new management thoughts and techniques. All articles published in the journal must make a strong empirical and/or theoretical contribution. All empirical methods including (but not limited to) qualitative, quantitative, or combination methods are represented. Articles published in the journal are clearly relevant to management theory and practice and identify both a compelling practical management issue and a strong theoretical framework for addressing it. For more than 40 years the journal has been recognized as indispensable reading for management scholars. The journal has been cited in such forums as The Wall Street Journal, The New York Times, The Economist and The Washington Post. The journal is published six times per year with a circulation of 15,000. Publisher Information The Academy of Management (the Academy; AOM) is a leading professional association for scholars dedicated to creating and disseminating knowledge about management and organizations. The Academy's central mission is to enhance the profession of management by advancing the scholarship of management and enriching the professional development of its members. The Academy is also committed to shaping the future of management research and education. Founded in 1936, the Academy of Management is the oldest and largest scholarly management association in the world. Today, the Academy is the professional home for more than 18290 members from 103 nations. Membership in the Academy is open to all individuals who find value in belonging. Rights & Usage This item is part of a JSTOR Collection.
 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. Factor comparison definitionFactor 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. The aim of factor comparison is to assign financial value to the relative parts of each job role. Factors of factor comparison1. Skill 2. Mental effort 3. Physical effort 4. Responsibility 5. Working conditions Factor comparison steps1. Selecting key jobs across the company, arund 20-25 jobs. 2. Selecting corresponding evaluation parameters for each of the selcted jobs. 3. Giving ranks to each job under each formulated factor in an independent fashion. 4. Assigning an equivalent monetary value to each job parameter. 5. Dividing money value of the job amongst the formulated factors. Advantages and disadvantages of factor comparison The advantages of factor comparison method- its broad application, - ensuring companies that their recruitment and selection methods provide a reasonable return on investment, - fair way of assigning money value - flexibility of the method as there is no upper limit on the rating of the factors. The disadvantages of factor comparison: - someone has to make a decision on evaluating the relative worth of each factor, - cost, - it's time consuming. Do you use a modern recruitment software? If not, you're missing out. See how your life can be easier. Start your free 14-day TalentLyft trial.Start my free trialSimilar to thisA set of compensable factors are identified as determining the worth of jobs. Typically the number of compensable factors is small (4 or 5). Examples of compensable factors are:
Next, benchmark jobs are identified. Benchmark jobs should be selected as having certain characteristics.
The jobs are then priced and the total pay for each job is divided into pay for each factor. See example matrix below:
This process establishes the rate of pay for each factor for each benchmark job. Slight adjustments may need o be made to the matrix to ensure equitable dollar weighting of the factors. The other jobs in the organization are then compared with the benchmark jobs and rates of pay for each factor are summed to determine the rates of pay for each of the other jobs.
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What is the factor comparison method of job evaluation?Factor comparison is a process that human resources professionals use to evaluate and compare different job candidates. By evaluating factors such as education, experience, skills, and qualifications, human resources professionals can identify the best candidates for a given position.
Which of the following is the second step in the factor comparison method for job evaluation?Which of the following is the second step in the factor-comparison method for job evaluation in an organization? a. The comparison factors to be used are selected and defined.
Which are the four job factors identified in factor comparison method?Four primary methods of job evaluations used to set compensation levels are point factor, factor comparison, job ranking and job classification.
Which of the following is not true about job evaluation?Personal observation method is not a method of job evaluation.
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Which of the following is true of the factor-comparison method of job evaluation?
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