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Job Evaluation Provides a Formal,systematic Basis for Determining the Market

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Job evaluation provides a formal,systematic basis for determining the market value of jobs and establishing external pay equity in the organization's compensation system.


Definitions:

Scenario Analysis

A process of analyzing future events by considering alternative possible outcomes (scenarios), often used for strategic planning to understand potential risks and opportunities.

Base-case Analysis

An evaluation technique in which the projected performance of a project is calculated under a set of assumptions considered most likely or average.

Sensitivity Analysis

A method employed to ascertain the impact of varying independent variable values on a specific dependent variable, based on certain assumptions.

Scenario Analysis

A process of analyzing possible future events by considering alternative possible outcomes.

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