Job evaluation and market pricing
Understand the fundamentals of job evaluation and market pricing, as well as how to choose and install the right scheme for your organisation
Understand the fundamentals of job evaluation and market pricing, as well as how to choose and install the right scheme for your organisation
Job evaluation and market pricing help you gather internal and external data on roles in your organisation and equivalent jobs in other employers or sectors. Effective interpretation of this data is key to ensuring fair and competitive pay. Job evaluation and market pricing exercises must be reviewed on a regular basis. This is to ensure they reflect changes to jobs, work, and business needs.
This factsheet introduces the fundamentals of job evaluation and market pricing. It gives guidance on choosing the right type of evaluation (analytical or non-analytical) and provides examples of the sorts of factors job evaluation schemes often use. It highlights issues that organisations should consider when implementing their chosen job evaluation scheme and outlines the different approaches to market pricing. Also included is information on the various sources of pay data.
Affiliate membership offers instant access to CIPD resources without the need for assessments or study, or explore your options to become a professional member of the CIPD to demonstrate your commitment to the world of work.
Already a member? Login here.
Our response to the Low Pay Commission consultation
Understand what we mean by skills in the workplace, UK skill levels and the government’s skills policy.
Learn how to identify the signs of stress and address stress at work
Outlines the kind of occupational health services an organisation might offer and the role of confidentiality and consent in discussing an employee’s health