Our firm completed a few job classification and compensation study projects in Kentucky last year and one of the side entertainment venues was the Keeneland Race Track in Lexington. What a nice horse racing track and facility for guests traveling to the Lexington area from within U.S. and around the world to see these amazing animals and jockeys racing full speed to the finish line. While spending the day at Keeneland, it became pretty apparent the amount of precision and forethought that goes into all the systems and processes for a smooth operating race track facility. The display board computer and graphics, the betting system software and hardware requirements, the photo finish computer and systems, the beverage and food POS software and hardware configuration, the publishing systems to produce a daily race track program, and the HRIS system to manage human capital compensation and benefit programs. While the Keeneland Race Track was being developed, constructed and configured for its ultimate opening day and during its on-going operation, a team of engineers and information technology professionals used and continue to use their skills, training, knowledge and keen eyes to ensure no stone is left uncovered. This leads to consistent and efficient daily race track operations.
When we completed one of the job classification and compensation study projects for a public utility, the final step required approval by the utility board of commissioners. One of the commissioners is a mechanical engineer and his review of the proposed job classification and compensation study project was through the lens of a skilled and knowledgeable technical professional. His questions about the study internal job valuing and external market pay study processes were comprehensive and precise. It was his desire as a member of the commissioners’ team to test the processes and systems to determine its validity and value for the public utility organization. After answering several questions and having a good discussion about the job classification and compensation study project, the commissioner was satisfied and understood the Utility’s new job classification and compensation management system. It passed the engineer’s filter for comprehensiveness and precision. We gained the Engineer’s approval and he was going to support passage of the new job classification and compensation study.
What are the components of a “state of the art” job classification and compensation management study project?
Comprehensive, consistent and compliant job descriptions developed in an automated electronic position analysis questionnaire database system with a collaboration feature.
Job descriptions and job rating systems that are integrated and aligned for efficient internal job valuing and placement within the organization structure.
Automated employee information uploading systems to minimize or eliminate data entry. Employee information that includes at minimum, ID #, Last Name, First Name, Job Title, Pay, Gender, Race/Ethnicity, Date of Birth, Date of Hire, EEO or Merit Rank, Department and Supervisor’s Title.
The ability to include external market pay data comparisons to evaluate internal pay competitiveness and validate the job valuing process for greater compensation management precision and defensibility.
Integrated and interactive system output tables, graphs, worksheets and reports for effective base compensation management structures and decisions that foster organization and employee behaviors and efforts that are aligned to meet objectives and goals.