Factor Comparison

[ˈfæktər | kəmˈpɛrəsən]
Definition:

A systematic and quantitative method of comparing and ranking jobs based on a series of scored factors. 

This could include physical or mental effort, qualifications or competencies required, management responsibilities or working conditions, for example; the aim of this is in order to allocate the financial value for each job position within the organisation; it is usually carried out by the Human Resources Management. Factor comparisons are done when a new job role is about to be formed within the organisation which then helps in deciding the salary and compensation for that particular position. 

Part of speech:
noun
Use in a sentence:
Make use of a factor comparison.
Factor Comparison