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Lecture 10

M H R 300 Lecture Notes - Lecture 10: Job Analysis


Department
Management and Human Resources
Course Code
M H R 300
Professor
Min Li
Lecture
10

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Compensation Systems:
Paying according to the job or job evaluation
Hay point system: puts a lot of emphasis on the job position and description
Idea: pay for the job position: the tasks done regardless of who performs the job
Goals
Internal fairness (equity)
External fairness
Individual fairness
Equity in Pay: The Case of Monkeys
People react to unfair compensation
It is HR’s responsibility to create a sense of fairness
Internal fairness
Same job, same compensation
Job Evaluation: Steps
Job analysis
Job descriptions
Identify contributing factors
Job specifications
Determine the value of each factor, describe factors and grades in manual
Arrange jobs according to points
Classify the job according to retributive levels
Use a survey and representative jobs to assign cash compensation
Set a wage policy
Criteria for each person experience, seniority, performance
Determine individual salary
Narrowbanding
Use a linear regression, points, market surveys to decide salary
Broadbanding
Point System of Job Evaluation
In a stable environment
Stable job positions which are clearly defined
Not a scientific and objective procedure, it is a systematic tool to justify wage differences
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