Question

assignment: chapter 09: managing compensation
using your knowledge of job - evaluation methods, complete the following table by matching the job - evaluation methods with the given definitions.
description\tmethod
does not provide a precise measure of the jobs worth\tjob ranking system
for evaluating executives, managers, and professionals
direct compensation to work pivotal to company goals
jobs grouped according to grades
provides a more refined method of making judgments
select the best answer from among the alternatives below.
after a marked uptick in the consumer price index, sibis employer gives her a cost - of - living raise most likely to:

• create information for a wage survey.
• help sibi maintain her purchasing power.
• comply with government regulations.
• inspire sibi to perform at higher levels.

Explanation:

1. Job ranking system: It is a non - quantitative method and thus does not provide a precise measure of a job's worth.
2. Factor - comparison method: Commonly used for evaluating executives, managers, and professionals as it considers multiple factors.
3. Merit - pay system: Directly compensates work that is vital to company goals by rewarding performance.
4. Job - grading system: Jobs are grouped according to grades based on similar levels of difficulty, responsibility etc.
5. Point - factor method: Provides a more refined method of making judgments as it assigns points to different job factors.

For the multiple - choice question, a cost - of - living raise is given to help an employee maintain their purchasing power when the consumer price index rises.

Answer:

1. Does not provide a precise measure of the job's worth: Job ranking system
2. For evaluating executives, managers, and professionals: Factor - comparison method
3. Direct compensation to work pivotal to company goals: Merit - pay system
4. Jobs grouped according to grades: Job - grading system
5. Provides a more refined method of making judgments: Point - factor method

Multiple - choice: Help Sibi maintain her purchasing power.