Basing pay levels on little more than a job title or a two-sentence summary job “description” can lead to disastrous results. Companies risk overpaying their workforce, wasting valuable resources and deteriorating the organization’s cost structure. Alternatively, they can underpay, and risk losing key talent or not securing the next generation of leaders.
We help organizations identify the real value of work, putting the right people in the right roles - and paying them the right amounts. Our job evaluation methodology brings clarity, objectivity and consistency. It enables organizations to accurately compare against other job designs in the market and creates data-supported reward systems that are demonstrably “fair” – both internally and externally. In so doing, we strengthen the employer value proposition, significantly boost employee engagement and ensure an optimal return on reward investment.
WHY KORN FERRY?
- We empower our clients. We train organizations to use our job evaluation method themselves, providing quality and assurance services as they need them. We can also support clients who wish to outsource the whole of their job evaluation needs to us.
- Our process is proven. Our job evaluation method (Korn Ferry Hay Guide Chart - Profile Method) is the most widely used and accepted in the world and has already enabled tens of thousands of organizations across all industry sectors to create effective job evaluation frameworks.
- We measure jobs by size AND shape. Various factors assign points (Hay points) to what and how a job contributes to your organization. This helps rank jobs and how they compare to each other, making it easier to determine eligibility and target amounts for bonuses and benefits etc. We also view work three-dimensionally, understanding the shape of the role and the skills and competencies needed to excel.
- We value balance. Organizations who only use a market pricing approach sustains inequities and neglects unique internal customized value. Our balanced approach to job evaluation considers both external market practices and the internal value to the employer.
- Our job evaluation and pay databases are global. Once we know the size and shape of roles, we use our pay database of more than 20 million employees from 25,000+ organizations in more than 110 countries worldwide to bring clarity and objectivity to how organizations evaluate and reward work.