Topic > Importance of Fair and Equitable Pay - 1156

Employees must believe that all jobs pay what they are worth. And that the employee must be confident that company pay rates reflect the overall importance of each person's work to the success of the organization. Some jobs offer more opportunities to contribute than others, and those in those jobs should receive more pay. The value of a job is generally assessed through a systematic process known as job evaluation. Job evaluation ratings focus on the requirements of the job rather than the performance of the individual job holder. The most common approach is the point factor method to evaluate the compensable factors that represent the most important determinants of the value of work. Job descriptions are used to rate each job, one factor at a time until all jobs have been rated on all factors. ((Reference for