What job evaluation approach relies on benchmark jobs and statistical regression analysis to establish salary grades based on internal value and market wage rates?

Explanation

• Market Pay Line (Policy Line) uses regression analysis to combine internal job evaluation scores (points) with external market salary data.
• Ensures both Internal Equity (fairness within the firm) and External Equity (competitiveness in market).
• Hay Guide Chart is a proprietary point-factor method focusing on Know-How, Problem Solving, and Accountability.