HRM 303 Review Study Guide Well Elaborated Answers 2024.

job analysis - correct answer the process of collecting information on which job descriptions are based job specifications - correct answer employee qualifications deemed necessary to successfully perform the duties of a given job Job Families - correct answer executives, mamagers, technical staff, professionals, sales staff, trades, support workers pitfalls in job analysis - correct answer gender bias, technical jargon, over simplifying job duties, analyzing the job holder. Ranking/ Paired Comparison - correct answer job evaluation method where the relative values of different jobs are determined by knowledgeable individuals and the jobs are ranked according to their worth to the organization. Once a hierarchy of jobs has been created, new jobs can be added using a method known as "slotting." Paired Classification or grading method - correct answer in this method, they establish and define general classes of jobs and then creates a series of grade descriptions for each class. Organizations then compare jobs using the grade descriptions within the appropriate job class and then select a pay grade that best matches them Factor comparison method - correct answer they identify several major factors against which all jobs in a job class can be assessed and then rates the extent to which each factor is present. Organizations use statistical analysis (multiple regression) to determine the value of the dollar of varying degrees of each factor Statistical/Policy Capturing Method - correct answer Generic grade descriptions for various classes of jobs are used to assign pay grades to specific jobs. They use questionnaires to gather information about the task elements of each job to be evaluated, as well as the typical time spent on each task and the relative importance of each task. Information is also collected regarding the level of skill or education required for each job, and possibly data on the quantity and quality of output expected for each job Point Method of Job Evaluation - correct answer Establishes job values by the application of points to each job, based on compensable factors. The point totals are then used to create a hierarchy of jobs Reasons for conducting job evaluation - correct answer Control wage cost Reasons for conducting job evaluation - correct answer create equitable pay structure Reasons for conducting job evaluation - correct answer create perception of equitable pay among those covered by the system. Green-circled employee - correct answer an individual whose pay is below the range for a job red-circled employee - correct answer an employee who is paid above the range for the job union-management committee - correct answer conducts job evaluations in unionized firms compensable factors - correct answer characteristics in a job that an organization values, that help it to pursue its strategy and objectives Universal Compensable Factors - correct answer skill, effort, responsibility, working conditions job degrees - correct answer gradations in the extent to which a certain factor is present in a particular job being rated. summary rating chart - correct answer contains the points allocated for each factor for a given job hierarchy of jobs - correct answer list of jobs from most important to least important in a company Benchmark jobs - correct answer Jobs used as reference points when setting up a job classification system and when designing or modifying a pay structure. market comparator job - correct answer A job in the market data that matches a benchmark job within the firm's job evaluation system. market line - correct answer A regression line that relates job evaluation points to market pay (in dollars) for the benchmark jobs Pay Policy Line - correct answer The intended pay policy for the organization, generated by adjusting the market line for the intended pay level strategy of the organization. hierarchical grounding - correct answer believing that if a job is at a high level in an organization it would be highly rated factor overlap - correct answer overlap in the factors which can cause some factors to be counted twice thus being too heavily weighted. Base Pay Structure - correct answer The structure of pay grades and pay ranges, along with the criteria for movement within pay ranges. pay grades - correct answer is a grouping of jobs of similar value to the organization, based on similar point totals. Pay ranges - correct answer It provides the actual minimum and maximum pay rate, in dollar terms, for all of the jobs that fall into a particular pay grade Equal interval approach for establishing pay grade sizes. - correct answer having the same point intervals for each pay grade for eg pay grade 1 can be 100-200 points and pay grade 2 can be 201-300 points and so on Equal increase approach for establishing pay grade sizes - correct answer Method to establish pay grade sizes, in which each pay grade increases in size by a constant number of points Equal percentage approach for establishing pay grade sizes - correct answer Method to establish pay grade sizes, in which each pay grade increases in width by an equal percentage from the preceding pay grade. Telescopic Approach for establishing pay grade sizes - correct answer Method to establish pay grade sizes, in which the point spreads increase, but not by an equal percentage Broadbanding - correct answer collapses many traditional salary grades into a few wide salary 'bands' Intergrade Differentials - correct answer The differences between the range midpoints of adjacent pay grades in a pay structure, expressed in dollars. Range Spread - correct answer the difference between the maximum and minimum pay rates of a given pay grade Criteria for moving within a pay range - correct answer