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Compensation: ALL forms of financial & non-financial returns, tangible…

- - - - Whole job
        
        Job VS Job
        
        Job ranking: EXAMINE JD & ARRANGE according to value to org
        
        group RANKED jobs into GRADES: to determine wage structure [job in grade: seen as roughly EQUAL & fall in SAME pay grade]
        
        Job VS Standards
        
        Job classification: need to ESTABLISH & DEFINE class levels [cover RANGE of jobs & place in RIGHT class] #
      - Specific job factors
        
        Job VS job
        
        Factor comparison: need decide which job have more of CHOSEN COMPENSABLE factors [QUANTITATIVE technique] #
        
        Compensable factors:
        
        COMMON job elements of ALL jobs evaluated
        
        impt factors that prove paying 1 job MORE than another
        
        eg. skill, working conditions
        
        Job VS Standards
        
        Points: identify SEVERAL compensable factors: each with several degrees
  - - - govt agencies: MOM(wage reports)
      - professional org: SNEF [salary surveys for exec. & non exec.]
      - Indi companies