Job Analysis to Compensation Overview
Job Analysis to Compensation Overview
The entire process of creating a job analysis and job description for hiring applicants to conducting performance appraisals to rewarding the employee through compensation is nothing more than talent management. The entire process of talent management, also known as Human Capital Management, include attracting and selecting, training and developing, and compensating in hopes of successful retention of employees. All areas are important for an organization to be successful.
Job Analysis. In order to attract and select the best candidates the organization will take certain actions to hire the right candidate for the job. A job analysis will be conducted which is used to identify if and what position is needed for the company. Once the position needed has been identified a task statement as well as a KSA statement is developed. KSA is the knowledge, skills, and ability statement that is used in developing a job description. The job description will be used in developing a job ad and in attracting the right applicants. The job analysis process also helps in the interviewing and selection process of obtaining the right candidate for the right job. As you can see, job analysis is a very important role in hiring the candidate that would best fit the needs of the business strategic goals.
Performance Management. Every organization should have a performance management program set in motion to aid the employee in determining what they need to do in order to progress within the company as well as what the organization needs from its employees to meet the overall organizational goals. Performance management should identify any substandard performance levels from the employee and guide him or her in the right direction in making them the best employee they can be. It is at this time of the performance appraisal that the manager must take full advantage to identify and correct any behavior that is considered substandard to the organization’s goals. Since compensation salary raises or bonuses are based on the overall appraisal rating, the feedback provided during performance management is highly important.
Compensation. Compensation is the reward the employer provides to the employee for meeting or exceeding expectations of work performance. There are certain guidelines that should be followed here as well. A written formal procedure should be available to all of how the appraisal is conducted as well