Week 3
Table of Contents
- Chapter 6: Building Internally Consistent Compensation Systems
- Learning Objectives (Chapter 6)
- Internal Consistency
- Internally Consistent Compensation Structure 1/2
- Internally Consistent Compensation Structure 2/2
- Tools for Building Job Structures
- Job Analysis
- Worker Requirements
- Working Conditions
- Job Analysis Process
- Job Analysis Data Gathering Methods
- Job Analysis Units
- Job Analysis Units (cont'd)
- Standard Occupational Classification System (SOC)
- Sources of Data
- Reliable and Valid Job Analysis Methods
- Writing Job Descriptions
- Worker Specifications
- Equal Employment Opportunity Commission (EEOC)
- Equal Employment Opportunity Commission (EEOC) (cont'd)
- Legal Considerations
- ADA Guidelines Essential Job Functions
- Job Evaluation
- Universal Compensable Factors
- Job Evaluation Process Steps
- Two Examples of Job Evaluation Techniques
- The Point Method
- Point Method Steps
- Job Evaluation Qualitative Approaches
- Internally Consistent Compensation Systems and Competitive Strategy
- Appendix (for LO 6-2)
- O*NET Categories
- O*NET Content Model
- Experience Requirements
- Occupation Requirements
- Occupation-Specific Requirements
- Workforce Characteristics
- Worker Requirements and Characteristics
- O*NET Content Model: Worker Characteristics (sample of full list)
- O*NET Content Model: Worker Requirements (sample of full list)
- Using O*NET
- Copyright (Chapter 6)
- Chapter 7: Building Market-Competitive Compensation Systems
- Learning Objectives (Chapter 7)
- Market-Competitive Pay Systems
- Market Competitive Pay Systems
- Four Activities of Market Competitive Pay Systems
- Four Activities of Market Competitive Pay Systems (cont'd)
- Preliminary Considerations
- Competitors' Pay Practices
- Custom Developed Surveys
- Published Survey Sources 1/2
- Published Survey Sources 2/2
- U.S. Bureau of Labor Statistics Surveys
- Compensation Cost Trends
- National Compensation Survey 1/2
- National Compensation Survey 2/2
- Compensation Surveys
- Relevant Labor Market
- Benchmark Jobs
- Job Leveling
- Sample Compensable Factor and Point-Level Definitions
- Leveling Instructions and Points
- Survey Data Characteristics
- Summarizing Survey Data
- Central Tendency
- Mean
- Variation
- Quartile
- Updating Survey Data: Consumer Price Index (CPI)
- Integrating The Internal Job Structure With External Market Pay Rate
- Regression Analysis 1/2
- Regression Analysis 2/2
- Setting Pay Rates
- R2
- Compensation Policies and Strategic Mandates
- Pay-Level Policies
- Pay Mix Policies
- Pay Mix Policy Example
- Copyright (Chapter 7)
Text and Images from Slide
Four Activities of <br />Market Competitive Pay Systems
- Strategic analysis entails an examination of a company's external market context and internal factors
- External market context: industry profile, information on competition, long-term prospects
- Internal factors: financial condition, functional capabilities
- Compensation surveys involve the collection and subsequent analysis of competitors' compensation data
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LO 7-1