Question

Part B: Six Steps

Step B1

Get a sample of jobs in a job family.

Step B2

Analyze those jobs for their relevant KSABs.

Step B3

Score those jobs appropriately.

Step B4

Regress the scores against salary data.

Step B5

Write an analysis of your results.

Step B6

Write a conclusion. What have you learned from this exercise? In your analytical summary, include and answer the following questions:

1. Explain the concept of designing a compensation system
2. Summarize the practice of sampling jobs in a job family.
3. Describe the practice of analyzing those jobs for their relevant KSABs.
4. Give two examples of scoring those jobs appropriately.
5. Analyze the regression of the scores against salary data.

Answer 1

Answer:

The mentioned six step process is to analyze the job adequately with the help of the sampling approach for the compensation and other job related factors. The conclusion of this process is to get the analyzed outcome for the job process using the sample approach.

The concept of this process is to get the sample and review and analyze the job in the suitable environment and make the meaningful outcome from the analysis of this job. This will give the good understating of job and job’s suitability for the compensation associated with the job.

The practice of sampling the job family is helping in understanding the key inputs from the job family on the job because they can help in adequate analysis of the job. The job family will have to contribute effectively on the job and its suitability.

The Jobs need to be analyzed for their relevant KSABs because the job’s main aim is to meet their KSABs. If the job is suitable with respect to their KSABs, then we can say that job is good and it is meeting its requirements. This job will have good acceptance at wider level.

The jobs can be scored adequately with respect to the key factors and with the given rating scales. Example Job A and Job B are scored with their key factors and job A has high score as compared to the Job B, then Job A will be more suitable job as compared to the Job B.

The jobs scores can be explored for regression analysis with the help of the salary data. Thus this will provide an opportunity to analyze the linkage between the salary data and the job scores. This regression outcome will help to make the statistical inference on the regression outcome.