COMPENSATION SYSTEMS AND EMPLOYEE BENEFITS

Compensation Systems and Employee Benefits



Designing Compensation Systems and Employee Benefits

Introduction

A company that wants to prosper must learn to seek and find workers with the knowledge and skills necessary to do their jobs. The integration of core competencies in the workplace can help to improve practices in recruitment and retention and achieves better results.

Use these tools to:

learn about the essential skills and their contribution to good performance;

integrating core competencies in recruitment practices (job descriptions, advertisements, the selection process);

better understand the essential skills that workers possess and identify those they need to improve to improve the performance of the organization and

Integrate the essential skills training programs and development.

Describe the difference between job analysis and job evaluation and how these practices help establish internally consistent job structure.

By describing the difference between job evaluation and job description, it is notice that what both of these structure means. Thus a job analysis begins with an assessment of the current position in the organization, and to determine the content of the site. This includes the tasks of each and every one, the conditions for performing these tasks and the skills necessary for employment goals and objectives.

Job Analysis vs. Job Evaluation

The compensation professionals describe the process of job analysis as a collection of accurate information about the job in the company. However, the measurement of the value and importance of each function for the other functions in the company are characterize as job evaluation. Both the elements allow the company to move from job analysis process to the individual how to organize the jobs within the company. Job analysis is the first step, and then collects those jobs that use the same knowledge and skills in the functional categories are then identified and functional scores of those functions.

Analysis and evaluation of work are the main processes to ensure that human resource professionals to accurately assess the contents of a specific position in the organization. Job evaluation should be completed after the work of analysis. HR professionals will do the job of the factors to determine the extent and value of each position.

In summary, the job analysis aims to properly assist a person in human resources in developing an accurate description of the work. This practice helps to create a structure of internal consistency of jobs, if done exactly the same way to help employees evaluate employees, prospective employees and job reclassification. In addition, estimates of labor for the benefit of the organization to develop a competitive pay scale to attract talented candidates, but to save (Judson, 2010).

The challenges in developing compensations that are both internally consistent and market competitive

Compensation plans marketing is a formula by which many companies introduce their products and services to market, launching also the opportunity to start a business for those who make that choice. Compensation plans can be the most confusing part to understand in the business of network marketing. The beauty of these plans is that, generally speaking, most ...