Order ready-to-submit essays. No Plagiarism Guarantee!
Note: All our papers are written from scratch by human writers to ensure authenticity and originality.
BUSI 440 Compensation Management (Exam 3)
Job Analysis
the systematic process of collecting information related to the nature of a specific job. It provides the knowledge needed to define jobs and conduct job evaluation.
Check your essay before you submit. See exactly what your professor sees.
See your AI and plagiarism results before your instructor does.Get the exact same report your professor uses. Trusted by 50,000+ students worldwide.
Job Evaluation
A systematic procedure designed to aid in establishing pay differentials among jobs within an single company. it includes classification, comparison of the relative worth of the jobs, blending internal and external market forces, measurement, negotiation, and judgement.
Routine Work
“Transactional Work”
Person-based pay systems
Focuses on the skills, knowledge, or competencies the employee possess regardless of what is used for a particular job
Skill-based pay plans
Link pay to the depth(specialist) or range (Generalist) of the skills, abilities, and knowledge a person acquires that are relevant to the work
Assessing the acceptability of a job evaluation plan
“Formal appeals process” allow for Employees to request reanalysis if they believe they were evaluated incorrectly or want to be reevaluated in regard to skills
Methods for determining validity of job evaluation
123
Competencies are derived from…
345
Skill based pay
Wages based on the skills, abilities, and knowledge a person acquires that are relevant to the work
Gender bias in job evaluation
234
Compensable factors, skill blocks, and competency tests.
344
multi-skill system
i
Skill based certification method
h
Mix or forms of pay
kk
Which of the following is not a factor explaining differences in pay offered to graduating college students?
o
External Competitiveness
p
Market pay rate
The wages that are typically earned in the market for that position
Efficiency wage theory
a theory that explains why firm are rational in offering higher than necessary wages
Segmented labor supply
A labor supply that comes from multiple markets. some employees may come from different global locations, may receive different pay forms, and may have varied employment relationships
steps in setting competitive pay and designing a pay structure
jk
Primary responsibility for conducting a pay survey
Compensation Manager
Pay Surveys
1. Who should be involved in the survey design?
2. How many employers should be included?
3. Which jobs should be included?
4. what information should be collected?
The Bureau of Labor Statistics
Publishes extensive information on various occupations in different geographic areas. It is a major source of publicly available compensation data. (cash, bonus, and benefits)
Fuzzy market
As jobs become so unique, relevant markets appear to be “fuzzy” because of the fusing of the jobs create unique needs for people with unique experiences. (IE. a software engineer with experience in e-Commerce, marketing, and theater)
