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
Worker Requirements
- Knowledge, Skills, and Abilities (KSAs)
- Education
- Experience
- Licenses
- Permits
- Special abilities
- Ex: HR managers must have knowledge of recruitment, selection, training, compensation and benefits, labor relations and negotiations, human resource information systems, oral/written comprehension, active listening, critical thinking.
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6-8
LO 6-2