Compensation Chapter 5
In the context of the point method of job evaluation, _____ are those characteristics in the work that an organization values; that help it pursue its strategy and achieve its objectives.
Compensable
The job evaluation method that most resembles a bookcase with many shelves is:
classification
The exchange value of a job it its ____.
external market vaule
The _____ method of job evaluation is the most commonly used method in the United States and Europe.
point
The _____ method of job evaluation uses compensable factors.
point
Most factor scales have _____ degrees.
4-8
All of the following are advantages of the ranking method of job evaluation EXCEPT that:
Advantages: the evaluation process is fast, the evaluation process is inexpensive, the evaluation process is not complex EXCEPT: rankings are easy to defend and justify
Which of the following methods requires elevators to agree on which jobs are the most and least valuable, then the next most and least valued, and so on until all the jobs have been ordered?
Alternation-ranking method
According to a World atWork survey, the primary method of job evaluation is _____.
Market pricing
When a statistical process is used to duplicate an existing pay structure, it is called:
Policy capturing
A major decision in jobs evaluation is to:
1. Establishing the purpose of the plan; 2. Decide on single vs. multiple plans; 3. Choose among alternative methods; 4. Obtain involvement of relevant stakeholders; 5. Evaluate the usefulness of the results
Research shows that _____ factor(s) account(s) for 98 to 99 percent of the variance in job evaluation plans.
3
The most widely used point method job evaluation is the:
Hay Plan
Common characteristics of the point method include all of the following EXCEPT:
Include e.g.: numerically scaled factor degrees, factor weights, compensable factors. Not include: benchmark factor classes
Which of the following is a disadvantage of the point method?
It can become bureaucratic and rule-based
In the context of internal alignment, which of the following is the correct sequence?
Job description >>>> Job evaluation>>>>>>>>Job structure
_____ is the process of systematically determining the relative worth of jobs for the purpose of creating an organization's job structure.
Job evalution
Which of the following is NOT true of the usage of multiple plans versus single job evaluation plans
True: Employers rarely evaluate all jobs in the organization at one time; Many employers design different evaluation plans for different types of work; typically, a related group of jobs is used for evaluation. False: A single universal plan is acceptable to employees if the work covered is highly diverse.
Which of the following statements is true of a job evaluation plan?
True: It is developed using benchmark jobs and then applied to non-benchmark jobs.
A job description is compared to class descriptions in the _____ of job evaluation.
classification
Which of the following is the underlying assumption in the assessment of job content?
Content has intrinsic value outside external market
The final step in designing a point plan involves _____.
Develop online software support
Which of the following is a major decision in job evaluation?
1. Establishing the purpose of the plan; 2. Decide on single vs. multiple plans; 3. Choose among alternative methods; 4. Obtain involvement of relevant stakeholders; 5. Evaluate the usefulness of the results
Research shows that skills, one of the compensable factors, accounts for _____ percent or more of the variance in job evaluation results.
90
_____ are more likely to conduct job evaluations of senior management jobs.
Compensation managers
In the point method, the second step in designing a plan is to:
Determine the compensable factors. Steps in order: 1. Conduct job analysis, 2. Determine compensable factors; 3. Scale the factors; 4. Weight the factors according to importance; 5. Select criterion pay structure; 6. Communicate the plan and train users; 7. Apply to non-benchmark jobs; 8. Develop online software support.