What is the term for fitting plotted points to create a smooth progression between pay and grades?

The term that describes the process of fitting plotted points to create a smooth progression between pay and grades is indeed the Wage Curve. The Wage Curve represents the relationship between the levels of pay employees receive relative to their grades or job classifications. By analyzing this relationship, organizations can establish a more equitable and consistent pay structure that aligns with job responsibilities, skill levels, and other factors.

The Wage Curve allows for a visual representation of how different pay grades correspond to various levels of job performance and employee contributions. This, in turn, helps in making informed compensation decisions and enhances the organization's ability to manage its human resources strategically.

Using concepts like a “Compensation Scale” refers to the broader framework for salary distribution but does not specifically emphasize the graphical plotting of data that the Wage Curve denotes. “Salary Progression” typically describes the advancement of an employee's pay over time, often based on tenure or performance, rather than the direct graphical relationship with grades. “Pay Rate Adjustment” pertains to changes made to an individual's pay but lacks the broader analytical perspective and the graphical representation inherent in the concept of the Wage Curve.