Job Factoring

A job factoring program evaluates jobs to determine levels of duties and responsibilities.

• A point rating system is used to evaluate the selected positions.
• Weighted factors address the major position characteristics of responsibility, education/experience, job conditions, physical requirements, supervision, training, etc.
• The rating process helps to determine comparable worth rankings within the workforce.
• The ratings are used in conjunction with the comparable salary data to prepare the factoring plan.
• The purpose of a factoring plan is to provide equitable pay and appropriate status recognition for all positions included.
• A factoring plan can accomplish two important objectives:
  1. It eliminates the element of subjectivity that invariably accompanies individual compensation decisions when no plan or guidelines exist or if the current plan is outdated.
  2. It provides managers with a tool for planning manpower requirements, controlling costs, and evaluating performance. While not an exact science, classification and pay plans represent a formalized procedure for achieving equitable job groupings and equitable pay levels for positions in the organization’s work force.

Our job factoring system enables us to tailor make position descriptions to fit the company’s talent needs while also enabling us to assist each company in developing a better fit of each employee’s future needs to the position.

Call us to discuss your needs.