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Hi Ann,

I just completed a one hour presentation at the MO State SHRM meeting this afternoon. The talk was focused on the use of integrated compensation management systems utilizing technology for greater accuracy, efficiency and productivity. Part of the process encourages the use of a 15 factor internal rating system for valuing unique and non-unique positions and then obtaining market pay to validate the internal pay range values for as many positions as possible. I agree with your "triangulation" approach and obtaining market pay for core functional elements of the job. This is where compensation becomes an ART and with time, experience and proven results, the compensation professional can sell the "Social Media Job Worth" masterpiece to the Manager of this position.

Blair:

Thanks for the thoughts. Internal job evaluation can be helpful in addressing the worth of emerging jobs relative to their internal counterparts - as long as the process allows one the means to respond appropriately to market practices (which, as we're both noting, can be difficult to get a handle on), a constraint with many factor system designs. It is indeed an art!

one word.. Nothing

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About The Author

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    Compensation consultant Ann Bares is the Managing Partner of Altura Consulting Group. Ann has more than 20 years of experience consulting with organizations in the areas of compensation and performance management.

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