Professional Documents
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Compensation Ted Mock
2. Discuss what is meant by job matching. Use the following criteria for job
matches: Benchmark Jobs 1, 2 and 3 must match at 80%; Benchmark Jobs 4 and
5 must match at 70%. Eliminate data that does not meet the criteria. Indicate
what data has been eliminated.
Job matching is the way to determine superior performance in each role by using
objective criteria to match someone with the correct job characteristics.
Benchmarking is comparison of various job rates of our organization with our
planned job rate.
As per this survey benchmarks are (below that are eliminated):
For Job 1,2,3= 80%
Job 4,5 = 70%
Job Eliminated Companies
1 F
2 B, C, I, J
3 A, B, C, H
4 NONE
5 E, F, G
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Compensation Ted Mock
3. Describe “aging the data” and then age the remaining data. Use an annual
inflation rate of 1.8%. The effective date of your new wage schedule will be
January 1, 2021. Present the aged job rates.
Aging data is a process of taking various survey data, which can be reliable at
different points in time, and adjusting the data to some common point in time, is
time adjusting or aging. Organization need to age the data to make the data
sources compatible with one another. We need an annual inflation rate based on
the region's data from Stats Canada for this.
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Compensation Ted Mock
01/01/2021) (1.8%)
A 17.50 04/20 9 1.35 17.73
D 18.50 07/20 6 .75 18.67
E 16.75 08/20 5 .6 16.87
F 17.25 09/20 4 .45 17.35
G 17.70 10/20 3 .9 17.77
H 17.70 9/20 2 .3 16.95
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Compensation Ted Mock
F 19 08/20 4 .6 19.11
G 19.75 10/20 3 .45 19.84
H 23 11/20 2 .3 23.07
I 21 12/19 13 1.95 21.40
J 19.75 01/20 12 1.8 20.10
4. Average the data for each benchmark job using the weighted mean. Show your
work and show the weighted mean for each benchmark job.
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Compensation Ted Mock
I 14.53 21 305.13
J 16.80 30 504
Total 149 2334.5
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Compensation Ted Mock
A 22.30 1 22.30
B 19.23 3 57.69
C 20.21 2 40.42
D 20.18 5 100.9
E 24.18 6 145.08
F 19.11 4 76.44
G 19.84 3 59.52
H 23.07 8 184.56
I 21.40 5 107
J 20.10 12 241.2
Total 49 1035.11
5. For the Market Line, indicate the labels and values on the Y -axis and the labels
and values on the X-axis.
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Compensation Ted Mock
6. You have decided to use the “Match” pay policy. For Pay Line One, indicate the
labels and values on the Y-axis and X-axis. What are the values of the y-
intercept and the slope of the regression line?
7. For Pay Line Two, using the values in the Job Evaluation System Table below,
indicate the labels and values on the Y-axis and the X-axis.
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Compensation Ted Mock
8. Using the “regression equation” and data from the Pay Line Two, calculate the
Job Rate for each of the five pay grades.
The regression equation to calculate new job rate is Y= a+bx
a= 12.28
b= 0.01332
JOBS NEW JOB RATES
1 15.54
2 17.27
3 19.61
4 21.60
5 24.27
9. Create the Wage Schedule for the Job Family clearly indicating five specific
wage ranges and overlaps. You determine the spread within each Pay Grade.
The effective date will be January 1, 2021.
Wage Schedule
Effective from January 1, 2021
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Compensation Ted Mock
PAY MINIMUM 6 12 18 24 30 36
GRADE WAGE
5 21.40 21.88 22.36 22.84 23.32 23.80 24.27
4 19.45 19.88 20.31 20.74 21.17 21.60
3 17.10 17.73 18.36 18.99 19.61
2 15.40 16.02 16.65 17.27
1 15 15.30 15.54
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