2002
DOI: 10.1177/0886368702034004007
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Developing a More Relevant and Competitive approach for Valuing Knowledge Work

Abstract: This article introduces the concept of work valuation, a new method of placing value on work based on the market value of work, its strategic impact and the competencies associated with performing the work. This concept is needed because job evaluation practices have not kept pace with the radical transformation of work that is taking place. This omission is critical as employers migrate their pay structures from pay grades to pay bands. The theory of work valuation is presented, followed by work valuation gui… Show more

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Cited by 35 publications
(5 citation statements)
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“…Managing individuals who perform complex work assignments is another aspect of the social context of knowledge work. Numerous authors have maintained that managing knowledge workers, and measuring the outcomes they produce, logically differs from traditional work (Heneman & LeBlanc, 2002). From the early discussions about knowledge work, Drucker (1957), among others, maintained that knowledge work suggests that individuals should have greater autonomy and freedom in their actions.…”
Section: Understanding Knowledge Workmentioning
confidence: 99%
“…Managing individuals who perform complex work assignments is another aspect of the social context of knowledge work. Numerous authors have maintained that managing knowledge workers, and measuring the outcomes they produce, logically differs from traditional work (Heneman & LeBlanc, 2002). From the early discussions about knowledge work, Drucker (1957), among others, maintained that knowledge work suggests that individuals should have greater autonomy and freedom in their actions.…”
Section: Understanding Knowledge Workmentioning
confidence: 99%
“…In addition, Balkin and Gomez-Mejia pointed out that human capital pricing results can provide employees with relevant information about personal performance and development, employees' contribution to organizational goals, etc, and can also provide standards for the compensation definition of enterprises [9]. The traditional design process and method of remuneration system often lead to rigidity of remuneration system, insufficient incentive and low morale of employees [10].…”
Section: Introductionmentioning
confidence: 99%
“…Several authors have emphasized the importance of KWrs' value in the development of efficient compensation and rewarding systems (MacLean, 2007;Blickenstaff, 2012;Mulhern, 2007;Heneman and LeBlanc, 2002;Ahn and Chang, 2004). Traditionally, the market value of a particular job sets the rate for which an individual is compensated.…”
Section: Introductionmentioning
confidence: 99%
“…This, overlooks the value of the specific and unique set of skills and competencies that an individual brings to that endeavor (MacLean, 2007). The compensation system fails when a bland, homogenized model is implemented, and it is necessary to consider that different KWrs have the potential for different impacts (Heneman and LeBlanc, 2002). In addition, employee value is closely linked to retention.…”
Section: Introductionmentioning
confidence: 99%