Outlines the main characteristics of strategic and total reward, from building a business case to designing and implementing a reward strategy across the organisation
Market pricing and job evaluation help employers gather data internally and externally on the roles in their organisation and equivalent jobs or roles in other companies or sectors. Effective interpretation of this data is key, but it can often help organisations implement fair and competitive pay structures for current and prospective employees.
This factsheet introduces the fundamentals of marketing pricing and job evaluation. It outlines the different approaches to market pricing and offers information on the different sources of pay data. It provides guidance on choosing the right type of job evaluation scheme (analytical or non-analytical) and gives examples of the sorts of factors often assessed. Finally, it suggests factors for organisations to consider when implementing their chosen job evaluation scheme.
This factsheet was last updated by Charles Cotton.
Charles Cotton: Performance and Reward Adviser
Charles directs the CIPD's performance and reward research agenda. He has recently led research into: how employers can help improve their employees’ understanding of their personal finances; how front line managers make and communicate reward decisions to their employees; how employers manage the risks around reward; how private sector employers can build the business case for workplace pensions; how employees form their attitudes to pay; and how the annual pay review process can become more strategic.
He is also responsible for the CIPD’s public policy reward work and has given evidence to select committees on banking pay, redundancy awards as well as responding to various consultations, such as on pensions, retirement and MPs’ expenses.
Explore our related content
Introduces the fundamentals of pay and reward, from pay structures and progression to equal pay, the national minimum wage and staff benefits
Learn about common pay structures, salary bands and benchmarking
A benchmarking and information resource in respect of current and emerging practice in UK reward management