The Hay Plan is a special type of point method of job evaluation used by the consulting firm, the Hay Group. It uses 3 factors and numerically measures the degree to which each of these factors is required in each …
Jobs are divided into component factors. Points or weights are assigned to each factor depending on the degree of its importance in a particular job, the total points for a job indicate its relative worth or value. Procedure- Determine the …
Few Key jobs are selected and compared in terms of common factors. Procedure involved- Select and Define the factors Select Key Jobs Rank Key Jobs by Factors Decide Rates For Key Job Apportion the Wage Rate Evaluate the Remaining Jobs. …
Also known as job classification. Job classes or grades are established. A job grade is a group of different jobs of similar difficulty or requiring similar knowledge and skills to perform. Each job grade is defined in the form of …