Internally Consistent Compensation Systems Chapter #7.
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Transcript of Internally Consistent Compensation Systems Chapter #7.
Internally Consistent Compensation Systems
Chapter #7
All jobs have to be clearly defined and valued
• Job analysis• Defines job content
• Job evaluation
Job Evaluation defines ee requirements and working conditions
• Determine which analysis program to use• Select and train analysts• Direct job analyst orientation• Write job descriptions
Standard Occupational Classification System, www.bls.gov/soc/
• Look #150 Units of Analysis• Look #151 Major occupational groups
• The new revised SOC will be useful for compensation specialists
Direct Job Analyst Orientation• Conduct the study and start collecting data
Most common methods of job analysis
• Questionnaires– Job encumbents– Two analysts should reach similar conclusions– video
• Observation
Job Descriptions
• Look page # 154
• Must be used to proved compliance
• EEOC• ADA• FLSA
Revised to include new service sector tech jobs
Experience R
equirentsOccupational Requirements
• #155 - #166
O*NET
• O*Net was revised for new tech jobs and service sector jobs
• Six content areas– Experience requirements– Occupation requirements– Workforce characteristics– Worker requirements– Occupation-Specific Information– Worker Characteristics
Experience
• Licensing• Experience and training• Additional education– Degrees– Certifications– Professional associations
Occupational Requirements
• Generalized work activities• Organizational context• Work context
Occupation-specific requirements
• Apply to a narrow set of elements• Look #158
Workforce Characteristics
• Labor market information • Occupational Outlooks
Worker Characteristics
• Abilities
• Work styles
• Interests
• #160
Worker Requirements
• Basic skills• Cross functional skills
• http://online.onetcenter.org
Job evaluation
• To systematically recognize differences in the relative worth among a set of jobs and establish pay differentials
• 3 Universal compensable factors• Skills• Knowledge• Abilities
Job Evaluation Process
• Determine technique• Choose committee• Train the evaluators• Document the evaluation plan• Communicate with EES• Set up appeals process
Techniques
• Market based evaluation• Job content evaluation• Point Method
• Benchmark jobs• Choose compensable factors• Define factor degree• Determine weight of each factor• Determine point values• Evaluate all jobs
How do you balance internal and market considerations with point methods?
• Simple ranking plans• Paired Comparisons• Alternation ranking
• Place jobs into categories
Class exercise
• Calculate geographic pay differences» This ex. will help you to understand what to expect
and what you can ask for when it comes to determine your salary like cost of living differences based on location. Using the following sites caluculate differences in pay for two cities
» OKC and Seattle» www.homefair.com (select salary calculator» www.datamasters.com (select cost – of- living data)» www. bestplaces.net (cost-of-living)» You can also use a search for “salary calculator:” Are the
numbers the same for each website?