BUS 409 Developing a compensation plan

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BUS 409 Compensation Management

Description

  1. Task: Design a Compensation System.
  2. Follow up: Complete these six steps to develop your compensation system. The regression analysis can be done in Excel, or some other appropriate software (SPSS, etc.).
    1. Get a sample of jobs in a job family
    2. Analyze those jobs for their relevant KSABs
    3. Score those jobs appropriately.
    4. Regress the scores against salary data.
    5. Write an analysis of your results.
    6. Conclusion
  3. Resources to assist you: Data can be found from O-Net. Example: Job Description, salary data, or students referred as a source for job family information.

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Explanation & Answer

Attached.

Code Occupation
1
2
3
4
5
6
7
8

Administrative Law Judges, Adjudicators, and Hearing Officers
Arbitrators, Mediators, and Conciliators
Court Reporters
Judges, Magistrate Judges, and Magistrates
Judicial Law Clerks
Lawyers
Legal Support Workers, All Other
Title Examiners, Abstractors, and Searchers

Salaries
Job Salaries
94,790.00
60,670.00
55,120.00
133,840.00
51,330.00
119,250.00
56,120.00
46,850.00
Mean Job Salary
Standard Deviation

Scores
Knowledge
387.00
275.00
387.00
496.00
324.00
421.00
299.00
285.00
77,246.25
33977.295

Skills
Abilities Total Job Scores
911.00
936.00
2,234.00
1,114.00
978.00
2,367.00
344.00
769.00
1,500.00
1,161.00 1,108.00
2,765.00
736.00
906.00
1,966.00
1,337.00 1,128.00
2,886.00
701.00
903.00
1,903.00
595.00
755.00
1,635.00

SUMMARY OUTPUT
Regression Statistics
Multiple R
...


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