Compensation and Benefits: Best Evaluation Method
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Describe the evaluation method you think is the best and explain your decision for choosing it. Use specific examples to support your answer.
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Solution Summary
This detailed solution describes the best evaluation method and gives an explanation as well as examples to support reasoning. Compensation an benefits are examined. APA formatted references are provided.
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I chose the factor comparison method as the best evaluation method. It is systematic and scientific, when compared to the ranking and classification method. The factor comparison is consistent, and allows each job to be ranked according to a series of factors. The factors included "mental effort, physical effort, skill needed, responsibility, supervisory responsibility, working conditions and other such factors (for instance, know-how, problem solving abilities, accountability, etc)" (Rao, 2013). Compensation is assigned by comparing the weights of the factors required for each job. Factors that are more important carry more weight, thus giving more accurate evaluation.
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