【正文】 ed to reflect hierarchy of jobs within the pany Establishing the INTERNAL Value of Jobs Recap: ? Select Compensable factors – Dimensions of work that the anization values, that helps it pursue its strategy and achieve its objectives. ? Assign factor weights – what is the relative importance of each dimension of job performance? Weights enable panies to allocate more weight to more important pensable factors than other less important pensable factors. ? Establish degrees of factors present in job – scale the factors to identify the different levels for each pensable factor. Essentially, establishing anchors for different levels on a pensable factor. Example of Point Values Factor 1st Degree 2ndDegree 3rdDegree 4thDegree 5thDegree Skill ? Job knowledge ? Experience 20 40 60 80 100 35 45 55 65 75 Effort ? Mental demand ? Physical demand 55 70 75 80 85 20 25 30 35 40 Responsibility 70 85 100 115 130 Working conditions 30 40 50 60 70 Example: Point values Degree/Level Compensable Factor 1 2 3 4 5 Job Knowledge 50 100 150 200 NA Problem Solving 50 100 150 200 260 Working Condition 10 30 50 NA NA Others… In this example: The pensable factors represent the different dimensions of job performance that are important for anizational success Degree/Level Compensable Factor 1 2 3 4 5 Job Knowledge 50 100 150 200 NA Problem Solving 50 100 150 200 260 Working Condition 10 30 50 NA NA In this example: The pensable factors represent the different dimensions of job performance that are important for anizational success The degrees reflect the relative level of responsibility, difficulty, etc. associated with each job for each pensable factor. Degree/Level Compensable Factor 1 2 3 4 5 Job Knowledge 50 100 150 200 NA Problem Solving 50 100 150 200 260 Working Condition 10 30 50 NA NA In this example: The pensable factors represent the different dimensions of job performance that are important for anizational success The degrees reflect the relative level of responsibility, difficulty, etc. associated with each job in terms of each pensable factor. The differences in the numerical values associated with each degree for each pensable factor reflects the weight or relative importance for each factor. Degree/Level Compensable Factor 1 2 3 4 5 Job Knowledge 50 100 150 200 NA Problem Solving 50 100 150 200 260 Working Condition 10 30 50 NA NA Problem Solving Degree anchor statement Degree 1 – actions are performed in a set order according to instruction. Problems referred to a supervisor. Degree 3 – Various problems are solved that require general knowledge of pany policies and procedures within own area of responsibility Degree 5 Complex tasks involving new or constantly changing problems or situations are planned, delegated, coordinated, and/or implemented. Internal Alignment (cont’d) (4) Factor Comparison ? Ranking benchmark jobs in relation to each other on factors like mental or physical requirements, skill, responsibility, and working conditions ? Combines job ranking and the point method ? Moary rates are included, so as the market changes, it needs to be updated frequently Hourly Rate Skill Respons. Working Conditions Carpenter Ast $ $ $ $ Carpenter $ $ $ $ Supervisor $ $ $ $ External Competitiveness External petitiveness ensures that jobs in the pany are valued appropriately relative to similar jobs in the pany’ s external labor market. ? Salary Surveys ? Job Pricing ? Company Pay Policy ? Pay Grades and Ranges ? Broadbanding Establishing Market Value Conducting a Survey to assess external market rates ? Identify Relevant Labor Markets (Ex: relevant labor market for secretary (local) likely to differ than for engineer (regional)) ? Identify Benchmark Jobs (Key Jobs) ? The contents are wellknown, relatively stable, and agreed upon by the employees involved. ? The supply and demand for these jobs are relatively stable and not subject to recent shifts ? They represent the entire job structure under study ? A majority of the workforce is employed in these jobs. ? Market Survey Data Collection External Competitiveness (cont’d) (1) Salary Surveys ? Provides a systematic way to collect information about wages in the external labor market ? Companies can conduct their own surveys or purcha