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Fundamentals of Human Resource Management, 5/e
book

Fundamentals of Human Resource Management, 5/e

by Gary Dessler
January 2015
Beginner content levelBeginner
480 pages
32h 52m
English
Pearson
Content preview from Fundamentals of Human Resource Management, 5/e

Chapter 10 Appendix: How to Create a Market-Competitive Pay Plan Using the Point Plan Job Evaluation Method

As we said, many firms simply price their jobs based on what other employers are paying—they use a ­market-based approach. However, most ­employers also base their pay plans on job evaluations. In a market-competitive pay plan, a job’s compensation reflects the job’s value in the company, as well as what other employers are paying for similar jobs in the marketplace. Because the point method (or “point-factor method”) is so popular, we’ll use it as the centerpiece of our step-by-step example for creating a market-competitive pay plan. 119 The 16 steps in creating a market-competitive pay plan begin with choosing benchmark jobs.

1. Choose ...

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Publisher Resources

ISBN: 9780134740218