For example, in any point factor system, knowledge/education is usually a heavily weighted factor. HR managers are usually very biased and this may tend to play into those biases and result in an unfair assessment and could eventually harm the organization in the long run. The Point Factor system is too sophisticated and may drain resources within the HR department as well. Ranking vs. Factor Comparison

The Ranking method is quite simple and even more simple than Factor Comparison. In this type of evaluation jobs are compared to one another based on the overall value to the organization. This value or worth is based on judgments by the evaluators. This method is too simple and may cause the HR manager to overlook key facts when performing this evaluation. It may be more useful for casual or temporary evaluations, but a more sophisticated and detailed method should be used for more serious types of evaluations.

Market Pricing vs. Factor Comparison

Market Pricing as a method to evaluate performance can be used effectively when properly applied in the correct circumstances. This method allows HR managers to understand important...

This way of evaluation job is definitely taking outside information and incorporating it within subjective ideas.
Market Pricing is a fine method to include as a specific factor within Factor Comparison methods of evaluating job performance. But as a standalone method to judge the performance of key personnel it is not complete enough. Pricing someone's job on the market is a solid business practice but the information provided to the HR manager may be incorrect or exaggerated for other purposes.

References

Anderson, a. (ND). Job Evaluation Principles and Techniques. Chron, Viewed on 6 May 2013. Retrieved from http://smallbusiness.chron.com/job-evaluation-principles-techniques- 11811.html

Busi, D. (ND). The Job Evaluation Process: A Big Hindrance. PA TIMES, Viewed on 6 May 2013. Retrieved from http://patimes.org/the-job-evaluation-process-a-big-hinderance-not- a-help-what-should-be-done-part-3/

Sanderson, S. (2013). Human Resources Keys to Performance Evaluation. Journal of Social Sciences and Finance, 22 Feb 2013.