The HAY System of compensation

Abstract

Charts the Hay Group’s Compensation Guide for Chart‐profile Method of Job Evaluation, in the early 1950s. Looks at the factors involved and itemizes three factor classifications with a total of eight elements, and these were: know‐how; problem solving; and accountability. These are discussed in depth. Summarizes that this system of evaluation gives a specific result with regard to employee motivation. Concludes the Hay System is an extremely valuable tool in guiding the organization to sensible pay practices.

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