The Age of Oversupply: Why the Future Would be Demanding on the Present Generation
February 7, 2025
Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]
What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]
How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]
Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]
In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]
Job analysis is the process of identifying and determining in detail contents of a particular job, thereby, clearly defining duties, responsibilities, accountabilities, and skills associated with the job. An important aspect of job analysis is that the analysis is conducted of the job, and not of the person. The process of job analysis results in two sets of data:
Job evaluation, on the other hand, specifies the relative value or worth of each job in an organization.
An organization undertakes the task of job analysis and evaluation for one or many of the following purposes:
An organization can appoint internal HR Specialists or take service of an HR Consulting Firm to carry out the project of job analysis and evaluation with the aim of meeting the pre-determined purposes as mentioned above. However, external HR Consultants are beneficial for their expertise and independent views.
The systematic process of job analysis and evaluation followed by the firm includes:
The various methods by which an HR Consultant can obtain the information for job description and job specification are:
Job evaluation is done by any of the following methods:
The outputs of job analysis and evaluation are then aligned to the purpose of the project. This requires the HR Consultants to interpret the changes required in the existing job/pay and suggesting the improvements, as required. HR Consultants also advice on smooth incorporation of these changes to enhance efficiency and effectiveness of the organization.
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