Compensation HRM 450-470 Chapter 6
- Lest consider that we are designing a salary structure to a caregiver using the point method technique.
- (Creativity in forming the compensable factors will be reflected on the overall mark).
- You may use the below table and add as much as compensable factors as you wish.
- This is an Individual assignment, due date is March 26th , 05:00pm.
- Benchmark jobs
Students should search for three job descriptions and based on them they choose the compensable factors.
Job description will be attached as appendix
- Choose compensable factors based on benchmarks jobs
|skill||Weight||Points||Students much write job title for each level|
- Define factors degree
- Determining weight for each compensable factor.
- Determine point value for each compensable factor
- Step six, Verify factor degrees and point value
Consider whether the hierarchy of the job makes sense in the context of the company’s strategic plans
- Job evaluation committee, Evaluate all jobs
- How to calculate the highest salary & the lowest salary for this job? Taking into account 25 SR is per point.
- Take the same table the salary got merit increased by 15%, how much the highest salary and the lower salary will be without changing the points
- Assuming that the CPI of this year is 177 and last year 170, calculate the CPI of this year and calculate the new salary for the highest and the lowest.