Job Analysis & Job Evaluation

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Pay-for-knowledge have been guessed to offer various purposes important to affiliations and delegates. Various specialists suggest that affiliations encounter more vital work power versatility, leaner staffing, more unmistakable work power unfaltering quality, higher nature of yield, lower non-participation, less turnover, and higher effectiveness. In like way, specialists furthermore say that agents in pay-for-knowledge may benefit by higher motivation, and higher business satisfaction moreover higher pay satisfaction, extended suppositions of self-regard, more open entryways for improvement and progression, job security, changes in the way of work life, and higher organization commitment (Nina. G. & Timothy. P. S., & G. Douglas. J.).

Pay-for-learning plans are speculated to succeed just with the benefit employees. The essential concern is that in the wake of researching a collection of frequently held and characteristic hypotheses illuminating the achievement of pay-for-knowledge, continually the results did not assert these speculations.

Knowledge-Based Pros

That is true that “knowledge-based pay rewards employees who set goals to learn new skills and acquire new knowledge. It helps to be ambitious, self-motivated employees typically prefer this approach because it gives them a reason to focus on career development. It also provides a mechanism to reward employees who want to perform at a higher level. When companies pay for knowledge and skill development, they contribute to a systemic raising of the bar for performance across all jobs” (Neil Kokemuller, 2016).

Knowledge-Based Cons

“Because knowledge-based pay is inherently more competitive within job ranks, it may cause conflict among colleagues and co-workers. Colleagues may feel slighted or bitter toward you if you make more money performing similar tasks. You may also feel underpaid and undervalued if you aren't paid the same as someone doing the same job at a competing company. Plus, with a knowledge based pay system, you have to spend time to take classes or training and continue to develop skills if you want to make more money” (Neil Kokemuller).

References

Martocchio. J. (2011),. Strategic Compensation: A Human Resource Management Approach 8th Edition. Retrieved from

https://bookshelf.vitalsource.com/#/books/9781323306048/cfi/6/6!/4/2/18/4/2/2@0:0

Nina. G. & Timothy. P. S., & G. Douglas. J.(1987). Pay for knowledge compensation plans: hypotheses and survey results. Retrieved from http://www.bls.gov/opub/mlr/1987/10/rpt2full.pdf

Neil. K. (2016)., Job Based Pay Vs Knowledge based pay. Retrieved from http://work.chron.com/jobbased-pay-vs-knowledgebased-pay-8232.html

Sriyan. D. S. (n.d.).,AN INTRODUCTION TO PERFORMANCE AND SKILL BASED SYSTEM. Retrieved from http://www.ilo.org/public/english/dialogue/actemp/downloads/publications/srspaysy.pdf

Susan. M. H. (2016, August 26). Job Analysis. Retrieved form https://www.thebalance.com/job-analysis-1918555