Description
LIBERTY ENTERPRISES: JOB EVALUATION EXERCISE Listed below are 10 benchmark jobs and their point values derived from an internal job evaluation of positions at Liberty Enterprises using the point method. Job Job Points Administrative Assistant 160 Technical Writer 315 Accountant 410 Information System Manager 930 Treasurer 850 Engineering Manager 900 Electrical Engineer 490 Human Resource Manager 525 Financial Analyst 430 Buyer 320 Use O*NET to identify the annual median market wage for each of the jobs.Using Excel, SPSS, another statistical program, or calculation by hand, determine the equation to construct a wage line representing the relationship between job points and annual median market wage. Let W represent the median market wage and P represent the job points. The wage line will be of the form W = aP + b where a is the slope of the line and b is the constant (intercept).Using a total point range of 0-1600, identify 8 wage grades of 200 points each. Label the wage grades W1, W2, etc., up to W8.Identify the wage grades for the 10 jobs identified above. Then, slot the following 5 jobs based on their point value. For each of the 5 jobs, (1) identify the wage grade and (2) calculate the estimated median market wage using the wage line equation from part (b). Chief Financial Officer 1250 Marketing Coordinator 270 Field Sales Representative 650 Nuclear Engineering Technician 375 Foreman 450 Complete and submit the next page to fulfill your assignment. [NOTE: O*NET annual median wages tend to be lower than those encountered in actual business organizations. For actual market pricing data from a purchased survey from a reputable consulting firm would be preferred. Such a survey will also reflect differences in industry, organizational size, location, etc.] LIBERTY ENTERPRISES: JOB EVALUATION EXERCISE (HRM6632) Submitted by: Median Market Wages (from O*NET) Wage Line Equation: Job Slotting Results Job Median Market Wage Administrative Assistant Technical Writer Accountant Information Systems Manager Treasurer Engineering Manager Electrical Engineer Human Resource Manager Financial Analyst Buyer Job Wage Grade Estimated Median Wage Chief Financial Officer Marketing Coordinator Field Sales Representative Nuclear Engr. Technician Foreman