24 Questions
What is a compensable factor?
A fundamental, essential element of a job.
What is the purpose of identifying compensable factors?
To determine compensation and benefits.
What is an example of a compensable factor?
Skills and effort.
When is job evaluation typically prepared for?
When preparing for the job evaluation.
What is the relationship between compensable factors and job evaluation?
Compensable factors are the fundamental elements used in job evaluation.
What is the primary criterion for grouping jobs into pay grades?
Job evaluation
What is the purpose of grouping jobs into pay grades?
To group jobs of similar difficulty or importance
What is a pay grade comprised of?
Jobs of approximately equal difficulty or importance
How are jobs grouped in a pay grade?
By job evaluation
What determines the importance of a job?
Job evaluation
What method of job evaluation ranks each job relative to all other jobs?
Ranking
What is the basis for ranking each job in the ranking method of job evaluation?
Some overall factor
How many job evaluation methods are mentioned?
11-5
What is the purpose of choosing an evaluation committee?
To facilitate the job evaluation process
What is competency-based pay based on?
Range, depth, and types of skills and knowledge of an employee
What is the focus of competency-based pay?
Employee's skills and knowledge
What is the underlying principle of competency-based pay?
Pay for the skills and knowledge
What do companies adopting competency-based pay value?
Employee skills and knowledge
How does competency-based pay differ from traditional pay systems?
It focuses on employee skills and knowledge
What is the approach used to calculate the total point value for a job?
Adding up points for each factor
What is the purpose of assigning points to each degree of a factor?
To evaluate the importance of each degree
What is the relationship between the points assigned to each factor and the total point value?
The points are added to get the total point value
Why is it important to calculate the total point value for a job?
To evaluate the job's worth based on various factors
What is the outcome of assigning points to each degree of a factor and calculating the total point value?
A job's total point value
Test your knowledge on compensable factors, job evaluation methods, and preparing for job evaluation processes.
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