JOB EVALUATION & EMPLOYEE REMUNERATION

Created By: Rishabh Srivastava Safiuddin Khan Sana Abbas Saud Siddiqui

JOB EVALUATION

• It is the process of analyzing & assessing various jobs systematically to ascertain their relation worth in an organization .

• Job evaluation is an assessment of the relative worth of various jobs on the basis of a consistent set of job & personal factors ,such as qualifications & skills required .

PROCESS OF JOB EVALUATION

• Job Analysis• Compensable factors• Developing the method• Job structure• Wage structure

QUANTITATIVE METHOD1. Ranking Method:The ranking method is the simplest form of job evaluation. In this method, each job as a whole is compared with other and this comparison of jobs goes on until all the jobs have been evaluated and ranked. All jobs are ranked in the order of their importance from the simplest to the hardest or from the highest to the lowest.The importance of order of job is judged in terms of duties, responsibilities and demands on the job holder. The jobs are ranked according to “the whole job” rather than a number of compensable factors. The ranking of jobs in a University, based on Ranking Method

2. Grading Method:Grading method is also known as ‘classification method’. This method of job evaluation was made popular by the U.S. Civil Service Commission. Under this method, job grades or classes are established by an authorized body or committee appointed for this purpose. A job grade is defined as a group of different jobs of similar difficulty or requiring similar skills to perform them. Job grades are determined on the basis of information derived from job analysis.

QUALITATIVE METHODS1. Points Rating:This is the most widely used method of job evaluation. Under this method, jobs are broke down based on various identifiable factors such as skill, effort, training, knowledge, hazards, responsibility, etc. Thereafter, points are allocated to each of these factors.Weights are given to factors depending on their importance to perform the job. Points so allocated to various factors of a job are then summed. Then, the jobs with similar total of points are placed in similar pay grades. The sum of points gives an index of the relative significance of the jobs that are rated.

2.Factor ComparisonThis method is a combination of both ranking and point methods in the sense that it rates jobs by comparing them and makes analysis by breaking jobs into compensable factors. This system is usually used to evaluate white collar, professional and managerial positions.

1.TIME RATE METHODUnder this remuneration is directly linked with

the time spent on devoted by an employee on the job. The employee are paid a fixed pre-decided amount hourly, daily, weekly or monthly irrespective of their output . It leads to minimum wastage of resources and lesser chances of accident.Time rate method leads to quality output & this method is very beneficial to new employee as they can bear there work without reduction in there salaries.

2. PIECE RATE METHODUnder this remuneration is paid on the basis of units on pieces produced by an employee. In this system emphasis is more in quality. Under this system the determination of employee cost per unit is not difficult because salaries differ with output.There is less supervision required under this method & hence the per unit cost of production is low. There is greater work efficiency in this method.

AEGIS LIMITED• Is a global Outsourcing and Technology services company wholly

owned by Essar, a 35 billion. It was founded in the United States of America in 1985 and has its presence in 43 location across 9 countries including India, United Kingdom, South Africa, Saudi Arabia, Peru, Australia, Argentina, Malaysia, and Sri Lanka with approximate strength of 40,000 plus employees spread across these locations

• Aegis has closely worked with some of leading brands is Healthcare, BFSI, Technology, Travel & Hospitality, Telecom and Retail industries particularly in the areas such as customer lifecycle, finance and accounting, Sourcing & procurement, HR & Enterprise business services management.

What make AEGIS different ?

Customer centered approach

to business

New Age services

Proprietary BPO

approach

Distinctive Domain

knowledge

Collaborative culture

Imagined Infrastruct

ure

Job evaluation at Aegis is done through Job ranking

method

Business Manager

Assistant Vice President

Senior Manager

Manager

Assistant Manager

Team Leader

Specialist (Quality & Training )

Senior Executive

Tele Executive

JOB HEIRARCHY

EMPLOYEE REMUNERATION AT AEGIS

• Employee remuneration at Aegis is done through Time rate method

• This involves remuneration on the basis of work experience. The resentment is done Internally as well as externally.

SALARIES AT AEGIS Tele Executive Rs 10000 (CTC)

Senior Executive Previous + 5% Hike

Specialist or Team Leader Internal Rs 10000 – Rs 12000 External Rs 15000 - Rs18000

Assistant manager Internal Rs 16000 - Rs 18000 External Rs 24000 - Rs 26000

Manager Internal Rs 30000 – Rs 26000 External Rs 40000 - Rs 50000

Senior manager Internal Rs 60000 – Rs 70000 External Approx. Rs 90000

Assistant vice president Rs 1.2 lacs – 1.5 Lac