GK
HUMAN RESOURCE MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Scale
|
|
|
Ranking
|
|
|
Money value
|
|
|
Rating
|
Detailed explanation-1: -In Factor Comparison method, each factor is ascribed a Money value. Factor comparison is systematic and scientific method designed to carry out job evaluation which instead of ranking job as a whole, ranks according to a series of factors.
Detailed explanation-2: -The factor comparison method involves the following steps : 1) Selecting bench-mark jobs; 2) Ranking bench-mark jobs by factors; 3) Allocating money values to factors; and 4) Ranking the other jobs, and wage fixing.
Detailed explanation-3: -(1) It is a systematic, quantifiable method for which instructions are available. (2) Jobs are compared to other jobs to determine a relative value. (3) It is a fairly easy system lo explain to employees. (4) There are no limits to the value which may be assigned to each factor.