What is pay compression most likely to develop?
Pay compression when there is little difference in wage between employees despite differences in their respective skills. This problem may arise when the market rate for starting salaries increases faster than organizations can give raises to existing employees.
What is the general method used to determine the relative value or worth of jobs to an organization?
Job evaluation is the general method used to determine the relative value or worth of jobs to an organization.Dec 6, 2017
Which mandated type of insurance covers individuals who suffer a job related illness or accident?
Workers' compensation insurance, often called "workers comp," is a state-mandated program consisting of payments required by law to be made to an employee who is injured or disabled in connection with work.Dec 10, 2021
Which job evaluation method assesses jobs in a factor related manner?
The point method is a superior and widely used method of evaluating jobs. It forces raters to look into all key factors and sub-factors of a job. Point values are assigned to all factors in a systematic way, eliminating bias at every stage.
Which method do companies use to determine job worth?
Four primary methods of job evaluations used to set compensation levels are point factor, factor comparison, job ranking and job classification.
What are the methods of job evaluation?
Four common job evaluation methods are the ranking method, job classification, the factor-comparison method, and the point-factor method.
What is workers compensation claim?
Key Takeaways. Workers' compensation is a form of employer insurance coverage that pays benefits to workers who are injured or become disabled as a result of their job. By accepting workers' compensation benefits, the employee waives the right to sue their employer for damages.Feb 6, 2022
Who pays the workers comp premiums quizlet?
It is the employer that pays the cost of workers compensation coverge. You just studied 10 terms!
Who pays the premium for worker's compensation insurance company?
It enables the employer to pay the compensation payable under the Workmen Compensation Act of India, which is monitored by the Ministry of Labour & Employment. #Premium differs on the basis of Coverage Type, Business Activity etc.
What is a job evaluation quizlet?
Job Evaluation. Is the process of systematically determining the relative worth of jobs to create a job structure for the organization. The evaluation is based on a combination of job content, skills required, value to the organization, organizational culture, and the external market.
What is job evaluation criteria?
The system of job evaluation utilises a total of ten measurement factors. The various factors analyse a position in relation to the skills and experience required for competent performance, the demands made on the job and the overall structure and responsibility/accountability involved.
What are job evaluation factors?
These factors include: Skills (years of experience, level of education and overall ability) Responsibilities (number of direct reports, fiscal accountability and the list of responsibilities of the position itself), Mental and physical effort (degree and amount of concentration, level and frequency of physical effort)
четверг, 12 ноября 2015 г
The systems flexibility argument suggests that more diverse organizations will be more competitive because they will
BUS 310 QUIZ 6 WEEK 7
The systems flexibility argument suggests that more diverse organizations will be more competitive because they will
What are some examples of seasonal workers?
Actors, musicians, performers, and athletes are a great example of seasonal workers armed with competitive wages. Good wages allow employees to save for that period of unemployment between peak seasons, ensuring that they will have enough to survive on and that being a seasonal worker will be a sustainable lifestyle.
Can independent contractors claim unemployment?
It is a one-word difference, but understand that only an employee can claim unemployment benefits.
Is seasonal unemployment a problem?
True seasonal unemployment is not technically unemployment at all. Rather, it is a gap between work commitments. While most seasonal workers are not receiving a paycheck in between working seasons, states do not readily classify them as “unemployed” because they technically have a job pending. The reason collecting unemployment benefits has become difficult for such workers is that states do not want to be responsible for giving workers with a job a paid break.
Can seasonal workers collect unemployment?
Given recent changes in state unemployment laws, many seasonal workers find it hard to collect unemployment benefits; actually, only construction workers and agricultural workers seem to qualify for what was once a wider pool of unemployed seasonal workers. That being said, many employers are providing their workers with alternate benefits in hope that they will serve as incentive for their workers to return during peak season.
What is seasonal work?
Seasonal employees work for defined, often short periods of time during specific times of the year. This phenomenon is created by variations in certain industries that are affected by seasonal shifts in demand or weather-related impediments.
What is seasonal unemployment?
Seasonal unemployment is most commonly associated with the tourist and seasonal-recreation industries (ski resorts, amusement parks, etc.) as well as weather-related jobs (landscaping, construction, lifeguarding, etc.). The phenomenon can also apply to sporadic, but predictable employment areas like certain types of farming, ...
What are the benefits of off season housing?
Another great perk to look for, especially for employees in the tourist industry, are off-season housing benefits such as free or reduced rent. Many employees in this area may already receive such benefits during peak season, but many employers have started to extend it during off-season as a way to keep their seasonal employees. Since rent is an employees main monthly expense, providing off-season housing benefits has both reduced the need for employees to claim unemployment benefits (or seek work elsewhere) and increased the number of employees returning for the peak season.
Maintenance man-hour rate
We have two people earning an hourly wage of $15 and $11. The crew average wage (CAW) calculates to $13. This crew works a 50-hour week. The labor burden (FICA, FUTA, SUTA, WCI, GLI, vacations, holidays, PTO and medical insurance) is 20 percent. General and administrative (G&A) overhead for the maintenance division is $10 per man-hour.
Residential construction man-hour rate
We have three people earning an hourly wage of $20, $16 and $12. The CAW calculates to $16. The crew works a 50 hour week. Labor burden is 25 percent. G&A overhead for the maintenance division is $16 per man-hour. The CPH for the ¾-ton crew truck without a trailer is $12.
Analysis
Most of the calculations are self-explanatory, with four exceptions. First, add a 10 percent risk factor because things don’t always go as planned. Second, the labor burden for a maintenance crew is usually a little lower than that for a construction crew.
Conclusion
The pricing for our construction crew is $10 more per man-hour than the maintenance crew. That’s almost a 23 percent difference. Too many contractors, who use an average man-hour rate overprice maintenance accounts while underpricing construction.