Patent ID: 6587832
Filing Date: 2003-07-01
Classification: G06Q

Abstract:
A method for estimating a market rate for tasks or competencies that are differentiated by job family or skill family, by category, and by level of responsibility or proficiency level, the method comprising providing a computer that is programmed:to provide a logarithm sk of an observed market rate, numbered k=1, 2, . . . , K, for each of a set of selected jobs, where each of the selected jobs has an associated job category and job level of responsibility, collectively referred to as a C/L combination, and has an associated job family; to provide a selected statistical average dh, numbered h=1, . . . , m, of the observed market rate logarithms for each of the C/L combinations; to assign to each of the selected jobs a logarithm xi corresponding to a job family, numbered i=1, 2, . . . , n (n&gE;2), and a logarithm yj corresponding to a C/L combination, numbered j=1, 2, . . . , m (m&gE;2), where the values of the quantities xi and yj are to be determined; to form a first (m+n)-row column matrix [X Y]tr, whose entries are the logarithms xi and the logarithms yj, and a second (K+m)-row column matrix [S D]tr, whose entries are the observed market rate logarithms sk and m selected statistical averages dh of the observed market rate logarithms; to construct a set of matrix relations &LeftBracketingBar;JROI&RightBracketingBar;&it;â€ƒ&it;&LeftBracketingBar;XY&RightBracketingBar;=&LeftBracketingBar;SD&RightBracketingBar;â€ƒrelating the values xi and yj to the values sk and dh, where J is a pÃ—n matrix having one column, corresponding to each job family with at least one available observed market rate, and each column in J has an entry 1 for the corresponding job family and 0 entries elsewhere, where R is a pÃ—m matrix having one column, corresponding to each C/L combination with at least one available observed market rate, and each column in R has an entry 1 for the corresponding C/L combination and 0 entries elsewhere, and where â€œOâ€  is a qÃ—m matrix of 0 entries and â€œIâ€  is an mÃ—m identity matrix; and to estimate solution values xi and yj for the set of matrix relations and forming a product of exp(xi) and exp(yj) to obtain a job family factor and a C/L factor for at least one of the observed market rates.