Market pricing and job evaluation help organisations gather data internally and externally on the roles in their company 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.