![]() Regression creates a “line of best fit” by co-relating the job evaluation points on the X axis and the external salary data on the Y axis. Enter the job evaluation points (on the X axis) and weighted average base pay rates (on the Y axis) for each benchmark job and generate the regression results. One way to do this is through a simple regression using Microsoft Excel to create a market pay line. We can now proceed to co-relate the internal and external data to create our market pay line. Step 4 We now have internal job point data and externally gathered weighted average base pay for each benchmark job. ![]() ![]() Step 3 Let us assume that we are working only on three job families (HR, Office Support, and Operations) After our pay strategy was determined for the three job families, we analyzed the pay survey information gathered from competitors in our relevant labor market. Step 2 We created an internal hierarchy of jobs (i.e., an internal job structure) by using the point method to evaluate each of our benchmark jobs. Step 1 We used job analysis to create job descriptions for our benchmark jobs. Burke and published by Society for Human Resource Management. The source for the following article is “Designing a Pay Structure” written by Lisa A.
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