The 8 factorsDeloitte's job evaluation approach |
Effective rewards programmes consist of many components, but above everything else must be fair and equitable. Designing such a rewards structure requires a sound understanding of job value; clearly different jobs bring different value to an organisation, but quantifying that value is no simple matter and can be highly subjective. Improper job evaluation can lead to employee grievances or even a legal case. An impartial, justifiable evaluation system is an often overlooked, but critical foundation of a fair and therefore successful rewards programme.
Deloitte’s 8 Factors is developed based on the four standard criteria recognised in pay equity legislation; Skill, Effort, Responsibility and Working Conditions. The 8 Factors uses a weighted point comparison method by assigning points to eight critical components of job value, thereby providing an effective mix of qualitative and quantitative measures. The result is a comprehensive, impartial and straightforward tool that is equally applicable to all positions, while customisable to suit an organisation’s specific needs and priorities.
To learn more about The 8 Factors and our job evaluation approach, download the attachment below.
The 8 Factors
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