BUSINESS MANAGEMENT Midterm: Understanding COMPARABLE WORTH
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27 Dec 2021
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Comparable worth, more commonly known as pay equity, is a way for companies to set employee salaries by ranking the value of comparable skills and responsibilities across professions, regardless of sex. The term, which first surfaced in the 1970s, is aimed at leveling the playing field between men and women, regardless of job title. Comparable worth focuses on the worth that a position has to a company. This means that two very different professions within one organization could be found to have the same value. For example, an accountant and an engineer may be found to deliver the same value to the company, based on the review metric. Therefore, both would be compensated equally if comparable worth were applied. This helps fight the practice in which jobs predominantly held by men have been paid higher than jobs held predominantly by women.
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