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    Compensation Systems: Prof. Rama Shankar Yadav

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    Nikhil Dargan
    The document discusses compensation systems and job evaluation. It describes the objectives of job evaluation as systematically determining the relative worth of jobs to create an organizational job structure. Job evaluation is based on job content, required skills, value, culture, and external market. Different views of job evaluation make assumptions about assessing job content and value. The document also outlines major decisions in developing a compensation system, comparison of evaluation methods, and legal acts regarding compensation in India.

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    Compensation Systems: Prof. Rama Shankar Yadav

    Uploaded by

    Nikhil Dargan
    38 views24 pages
    The document discusses compensation systems and job evaluation. It describes the objectives of job evaluation as systematically determining the relative worth of jobs to create an organizational job structure. Job evaluation is based on job content, required skills, value, culture, and external market. Different views of job evaluation make assumptions about assessing job content and value. The document also outlines major decisions in developing a compensation system, comparison of evaluation methods, and legal acts regarding compensation in India.

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    Compensation

    Original Title

    Compensation

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    The document discusses compensation systems and job evaluation. It describes the objectives of job evaluation as systematically determining the relative worth of jobs to create an organizational job structure. Job evaluation is based on job content, required skills, value, culture, and external market. Different views of job evaluation make assumptions about assessing job content and value. The document also outlines major decisions in developing a compensation system, comparison of evaluation methods, and legal acts regarding compensation in India.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    38 views24 pages

    Compensation Systems: Prof. Rama Shankar Yadav

    Uploaded by

    Nikhil Dargan
    The document discusses compensation systems and job evaluation. It describes the objectives of job evaluation as systematically determining the relative worth of jobs to create an organizational job structure. Job evaluation is based on job content, required skills, value, culture, and external market. Different views of job evaluation make assumptions about assessing job content and value. The document also outlines major decisions in developing a compensation system, comparison of evaluation methods, and legal acts regarding compensation in India.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 24

    Compensation Systems

    Prof. Rama Shankar Yadav

    Indian Institute of Management Rohtak


    Circulation restricted.
    Objectives
    Job Evaluation
    Process of
    • Systematically determining the relative worth
    of jobs
    • To create a job structure for the organization.
    • Evaluation is based on a combination of
    – Job content,
    – Skills required,
    – Value to the organization,
    – Organizational culture and
    – The external market.
    (Note: focus is the job, not the person doing a job.)
    Assumptions Underlying
    Different Views of Job Evaluation
    Aspect of Job Evaluation Assumption

    Assessment of job
    Content has intrinsic value outside external market.
    content

    Assessment of Stakeholders can reach consensus on relative


    relative value value.

    External market link Value cannot be specified without external market.

    Measurement Honing instruments will provide objective measures.

    Negotiation Puts face of rationality to a social / political


    process; establishes rules of the game and invites
    participation.
    Determining an Internally
    Aligned Job Structure

    Internal
    alignment Job analysis Job description Job evaluation Job structure
    Major Decisions
    • Establish purpose of Job Evaluation
    – Which supports organization strategy
    – Supports work flow
    – Fair to employees
    – Motivates behavior toward
    organization objectives
    • Single vs. multiple plans
    • Choose the best method
    • Obtain involvement of relevant stakeholders
    • Evaluate plan’s usefulness
    In India Legal Acts for Compensation
    • Under the Workmen’s Compensation Act,
    1923, section 3 of the Act
    – Provides for the liability of an employer to pay
    compensation to the employee
    • Minimum Wages Act 1948.
    – An Act to provide for fixing minimum rates
    of wages in certain employments.
    Comparison of
    Job Evaluation Methods
    Advantage Disadvantage

    Cumbersome as number of
    Ranking Fast, simple, easy to explain. jobs increases. Basis for
    comparisons is not called out.

    Can group a wide range of Descriptions may leave too


    Classification
    work together in one system. much room for manipulation.

    Compensable factors call out


    basis for comparisons. Can become bureaucratic and
    Point
    Compensable factors rule-bound.
    communicate what is valued.
    Ranking Method

    • Orders job descriptions from highest to lowest


    based on a global definition of relative value or
    contribution to the organization’s success
    Point Method
    Thank You

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