Is one of the premier management consultancy firms, and specializes in the fields of performance management and reward. Hay is best known for its proprietary job evaluation system called the Hay Guide Chart-Profile Method, which is one of the most widely used in business, particularly for managerial and professional jobs. The scheme is an analytical system of job evaluation based on three core factors, Know-how, Problem-Solving, and Accountability, and was originally developed by the company's founder, Edgar N. Hay, in the 1950s. One of the attractions for employers using the Hay scheme is that it is possible to use the results of job evaluation in tandem with those from salary surveys from a sample of other employers using the same system. As a consequence, salaries can be set in line with those for jobs with an equivalent job evaluation score in the same business sector or labour market. Other consultancy firms also offer job evaluation services. Whilst proprietary job evaluation schemes are widely and increasingly used, they have been criticized for not being tailored sufficiently to the requirements of individual organizations, for being biased towards managerial jobs, and for being insufficiently receptive to the issue of equal pay for work of equal value.
Subjects: Human Resource Management.