Tag Archive: Pay

May 4, 2020

May 5, 2020 3:36 pm Published by

Have you ever been in a situation where you needed to change an employee’s schedule, hours, pay or benefits and... Read More

Using the Point Factor Method to Establish Pay Rates

January 2, 2020 2:11 pm Published by

Are you taking the opportunity to review and reevaluate pay rates in the New Year but don’t know where to start? The point factor method is a quantitative technique to evaluate individual jobs and/or job groups based on elements that are essential to an organization’s operations and success and set appropriate pay rates. Compensable factors are identified in a job analysis, points are assigned to the factors, the factors are weighed based on the job requirements, and a pay structure is established for the position.