Description
Individual Project
Compensation Plan Implementation
Wed, 10/18/17
Numeric
100
6–8 slides with speaker notes of 200–250 words per slide (excluding title and reference slides)
Determining the value of work is critical to setting pay rates. After the job analysis and writing the job description, the human resources compensation specialist determines the process to apply to perform the job evaluation and compensation.
Develop a presentation that addresses the following for setting a final pay range for a position:
- Explain the factors used in job pricing.
- What are compensable factors, and how are they applied in determining pay ranges?
- Discuss the point and job content methods, and give an example of how each is applied in determining compensation.
- What would you recommend an organization use to define compensation for a customer service representative?
Please submit your assignment.
For assistance with your assignment, please use your text, Web resources, and all course materials.
Explanation & Answer
Attached.
JOB EVALUATION AND
COMPENSATION
FACTORS USED IN JOB PRICING
The costs incurred by the organization are a major factor to consider in job
pricing.
Profits earned by the organization are another factor to consider.
Market demand will also determine how much employees get paid.
Industry standards will also determine how much employees are paid.
Skill level of the employee will determine how much one earns.
The experience is another important factor in determining how much an
employee earns.
The business strategy of the organization is also critical.
FACTORS IN JOB PRICING
The services offered by the organization will determine how much is
earned by employees.
The client base of t...
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