Asked by Larry Egerton on May 10, 2024
Verified
Grenstall Inc., a software development firm, has adopted a new job-evaluation system in which managers are asked to objectively quantify the value of eight to ten compensable factors of each job in the organization. These compensable factors are based on their importance to that particular job and may include skill, physical effort, mental effort, and responsibility so forth. In this system, jobs are compared against a standard of key ratings. Which of the following job-evaluation systems is Grenstall Inc. most likely using in the given scenario?
A) The market-basket analysis method
B) The classification system
C) The factor-comparison method
D) The point system
Factor-Comparison Method
A technique used in job evaluation that involves comparing jobs to a series of key factors and assigning monetary values to them.
Point System
A method for evaluating or ranking options based on the allocation of points to criteria deemed important.
Compensable Factors
Elements of a job that are used to determine its value and appropriate compensation, including factors like skill level, effort, responsibility, and working conditions.
- Familiarize with different job valuation methods and their application in defining salary structures.
Verified Answer
RM
Rashunda MamboMay 12, 2024
Final Answer :
D
Explanation :
The point system is described in the scenario, where jobs are evaluated based on a series of compensable factors, each assigned a point value according to its importance to the job.
Learning Objectives
- Familiarize with different job valuation methods and their application in defining salary structures.