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2 Cards in this Set
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Total rewards and how it differs based of type and level of job
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Total rewards: equals the total compensation package employees receive.
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Different methods of job evaluation, job classification/the means by which duties and responsibilities are grouped including broadbanding
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Job Ranking: reviewing job descriptions and listing jobs in order from highest to lowest worth to company. Difficult to do is a large company, need to create a framework to process the information found in all the job descriptions. LARGELY SUBJECTIVE.
Job classification: Developing broad descriptions for groups of jobs that are similar in terms of tasks, duties, responsibilities, and qualifications. Wage range is attached to each classification reflecting relative worth of the job in that classification. *Sometimes managers want to reclassify to give a particular employee more money Broadbanding: consolidates large # of pay grades into "broad" bands, usually 3-10. maximum pay for one brand can be as much as 100-400% above band's minimum. |
