Comp Exam 1

physiological like value of work

monetary and nonmonetary

hourly or salary comp

legally required benefits

total compensation =

 systematic process forgathering, documenting, and analyzing information to describe jobs. Job Duties, requirements, job context, working conditions. This is mainly a descriptive process.

 systematic process to recognize differences in the relative worth among a set of jobs and to establish pay differentials accordingly. This will have values attached to job responsibilities/qualifications and use numerical functions

 Determined by employees’ credentials, job knowledge, and job performance
- organized levels of employee salaries divided by job type

pay level for the job

 built on grades,uses midpoint, minimum, andmaximum pay rates

factors that lead to industry wage differentials

factors that lead to occupational wage differentials

calculate pay
salary =

weekly pay =

o Compares the value o feach job within the same company against the rest of the jobs found within that company.

job analysis
smallest step practical to subdivide any work activity
 Setting font size

job analysis
one or more elements and is one of thedistinct activities that constitute logical andnecessary steps in the performance of work bythe worker. A task is created whenever humaneffort, physical or mental, is exerted toaccomplish a specific purpose

job analysis
collection of tasksconstituting the total work assignment ofa single worker.

job analysis
group of two or more positions thatcall for either similar worker characteristics or similarwork tasks

job analysis
group of jobs, found at more thanone establishment, in which a common set of tasks areperformed or are related in terms of similar objectives,methodologies, materials, products, worker actions, orworker characteristics.

job description
statement conciselysummarizes the job with two to four descriptivestatements. This section usually indicateswhether the job incumbent receives supervisionand by whom

job description
describes the major workactivities

job description
education, KSAs, andother qualifications individuals must possess toperform the job adequately

o job characteristics bywhich companiesestablish relative payrates

universal compensible factors

job evals
usesmarket data to determine differencesin job worth

job evals
emphasizescompany’s internal value system byestablishing a hierarchy of internaljob worth; the point method is a job-content evaluation system

job evals
Evaluates jobs by comparing compensablefactors by assigning numerical values tocompensable factors that describe jobs, andthese values are summed as an indicator ofthe overall value for the job.•Compensable factors are weighted torepresent the relative importance

job evals
order all jobs from lowest to highestaccording to a single criterion

job evals
committee membersassign a point to the job with the highest value. Thejob with the most points is ranked the highest; the job with thefewest points is ranked the lowest

job eval
orders jobs by extremes.This ranking process begins by determining which job isthe most valuable, followed by determining which job isthe least valuable.

job eval
place jobs into categoriesbased on compensable factors. Public sectororganizations (e.g., civil service systems) useclassification systems most prevalently

o Adds to base pay on a nonrecurring basis

incentive pay
employeesreceive payments for specific behavioralaccomplishments

incentive pay
employees receive bonuses forrecruitment of highly qualified employees

incentive pay
employees receive smallmonetary gifts for outstanding work or effortduring a reasonably short time period

incentive pay
monetary awards given topromote recruitment and job offer acceptance

incentive pay
reward workers forevery item produced over adesignated production standard

incentive pay
award bonuses to managers when theymeet or exceed objectives based onsales, profit, production, or othermeasures for their division

a group ofemployees, usually a departmentor work unit, is rewarded forproductivity gains

types of gain sharing

improshare

goal of scanlon gain sharing

scanlon ratio =

scanlon Break even labor cost =

ruckner plan=

goal of the rucker ratio