Intrinsic value
The concept of intrinsic value is that jobs have value because of the impact they make on organizational results and by reference to the levels of responsibility and skill required to perform them. Increases in impact and these levels lead to higher rates of pay. This concept is in line with the labour theory of value and provides the theoretical base for job evaluation. However, as an explanation of the value attached to jobs it is limited because it ignores internal and external relativity.