Fe View Tools UPLOAD BLOCKED We ran into a problem with this file and can't save any new changes. Please save a copy to avoid losing your work. HUMA74 - Human Resources Management Summer 2022 Critical Thinking Assignment: Compensation 4 of 4 Instructions: Rainbow Life Insurance Company, based in Toronto, uses a point-factor job evaluation system of their own design. The system is based on five job characteristics: Skill, Mental Effort, Physical Effort, Responsi- bility and Working Conditions. For each job characteristic there are four levels, or 'degrees'. These degrees reflect the amount of knowledge, skills or experience required and, in some cases (e.g., working conditions) a measure of the challenge or difficulties experienced in the working environment (e.g. the level of stress, safety concerns, etc.) Here, for example, is a portion of the job evaluation table based on their system. Degree 1 Degree 2 Degree 4 Degree 3 200 300 Skill 100 50 60 120 180 25 50 100 75 Mental Effort Physical Effort Responsibility 120 60 160 200 60 100 40 20 Working Conditions Please answer the following questions: HUMA74 A4 S22.docx Word Save a Copy 1-Assuming that the system is based on a maximum possible allocation of one thousand job evaluation points, what is the point value for degree 4 of the job characteristic "Mental Effort'? 2- What is the job evaluation score for each of the following jobs? Accountant I: Skill level 2, Mental Effort level 2, Physical Effort level 2, Responsibility level 1, Working Conditions level 2 Accountant II: Skill level 3, Mental Effort 3, Physical Effort 2, Responsibility 2, Working Conditions 1 Accountant III: Skill level 4, Mental Effort 3, Physical Effort 2, Responsibility 3, Working Conditions 1 Responsibility 4, Accounting Manager: Skill level 4, Mental Effort 4, Physical Effort Working Conditions 1 The following table contains the current salary of the members of the accounting department of Rainbow Life. Employee Number 1 Job Evaluation Points 2 Job Level Accountant I Accountant I Accountant I Accountant I Accountant I Accountant I Annual Salary (CS) 80,000 80,000 81.000 81.500 85,000 90,000 3 4 5 6 7 91,000 Accountant I Accountant I Accountant I 92,000 8 93,000 9 95,000 10 Accountant I 95,500 11 Accountant I 90,000 12 Accountant 94,000 13 Accountant II Accountant II 95,000 14 15 16 96.000 Accountant II Accountant II 100,000 101,000 17 Accountant II reens 3-4 of 4 20C Cloudy Tools Vew UPLOAD BLOCKED We ran into a problem with this file and can't save any new changes. Please save a copy to avoid losing your work, 18 19 Accountant II Accountant II 105,000 107,000 107,000 Accountant II 20 21 Accountant II 108,000 22 Accountant il 109,000 23 Accountant Ill 105,000 24 Accountant Ill 109.000 25 Accountant III 109,000 26 Accountant III 110,000 27 Accountant III 110,000 28 Accountant Ill 110,500 29 Accountant III 112,000 30 Accountant Ill 115,000 31 Accounting Manager 120,000 127,500 32 Accounting Manager Plot the salary data against the job evaluation points you calculated. The annual salary in dollars is the Y axis, the job evaluation score, in points, is the X axis. Calculate a 'best fit' salary line and, using that line, develop an equation for converting job evaluation points into an annual salary. (i.e. y = mx + b... where the salary equals y, and the number of job evaluation points equals x). You may use any application software you wish to create the salary line (e.g. Excel). Using your formula, calculate (or estimate) the average salary that should be paid to a fully competent employee, for a new job at Rainbow Life worth 800 job evaluation points. 3- Plot the salary data against the four accounting jobs. That is, the annual salary is on the Y axis, and each of the four jobs, in increasing order of job level is on the X axis. Use this data to create a recommended 'salary range' for each job. That is, for each job, recommend a starting salary, a job rate and a maximum salary. 4- Assume that employees 2,3,4 and 6 are female. Is there a pay equity problem with the job Accountant I? 5- Assuming that Rainbow Life wanted to pay their accounting staff, on average, at the 70th percentile of the average salaries paid by their competition in the Toronto marketplace, how would you go about doing that? Notes: O HUMA74 A4 522.docx - Word Save a Copy This is a challenging assignment and you may want to ask questions in class and read the assigned chapters in the text. Submit a summary of your work (8.5x11, 12pt, 1.5 line spacing) and upload it in Blackboard by the end of the day on June 10, 2022. The assignment is worth up to FIVE marks. Rubric: (5) Very thorough and detailed answers to all questions. (4) Good, detailed answers to all questions. (3) Adequate answers to most questions. (2) Fair attempt although not a complete solution or deficient in one or more critical aspects. (1) Incomplete answer. (0) Assignment not completed. ENG INTL 40 12:29 AM 07-06-2022 100% Fe View Tools UPLOAD BLOCKED We ran into a problem with this file and can't save any new changes. Please save a copy to avoid losing your work. HUMA74 - Human Resources Management Summer 2022 Critical Thinking Assignment: Compensation 4 of 4 Instructions: Rainbow Life Insurance Company, based in Toronto, uses a point-factor job evaluation system of their own design. The system is based on five job characteristics: Skill, Mental Effort, Physical Effort, Responsi- bility and Working Conditions. For each job characteristic there are four levels, or 'degrees'. These degrees reflect the amount of knowledge, skills or experience required and, in some cases (e.g., working conditions) a measure of the challenge or difficulties experienced in the working environment (e.g. the level of stress, safety concerns, etc.) Here, for example, is a portion of the job evaluation table based on their system. Degree 1 Degree 2 Degree 4 Degree 3 200 300 Skill 100 50 60 120 180 25 50 100 75 Mental Effort Physical Effort Responsibility 120 60 160 200 60 100 40 20 Working Conditions Please answer the following questions: HUMA74 A4 S22.docx Word Save a Copy 1-Assuming that the system is based on a maximum possible allocation of one thousand job evaluation points, what is the point value for degree 4 of the job characteristic "Mental Effort'? 2- What is the job evaluation score for each of the following jobs? Accountant I: Skill level 2, Mental Effort level 2, Physical Effort level 2, Responsibility level 1, Working Conditions level 2 Accountant II: Skill level 3, Mental Effort 3, Physical Effort 2, Responsibility 2, Working Conditions 1 Accountant III: Skill level 4, Mental Effort 3, Physical Effort 2, Responsibility 3, Working Conditions 1 Responsibility 4, Accounting Manager: Skill level 4, Mental Effort 4, Physical Effort Working Conditions 1 The following table contains the current salary of the members of the accounting department of Rainbow Life. Employee Number 1 Job Evaluation Points 2 Job Level Accountant I Accountant I Accountant I Accountant I Accountant I Accountant I Annual Salary (CS) 80,000 80,000 81.000 81.500 85,000 90,000 3 4 5 6 7 91,000 Accountant I Accountant I Accountant I 92,000 8 93,000 9 95,000 10 Accountant I 95,500 11 Accountant I 90,000 12 Accountant 94,000 13 Accountant II Accountant II 95,000 14 15 16 96.000 Accountant II Accountant II 100,000 101,000 17 Accountant II reens 3-4 of 4 20C Cloudy Tools Vew UPLOAD BLOCKED We ran into a problem with this file and can't save any new changes. Please save a copy to avoid losing your work, 18 19 Accountant II Accountant II 105,000 107,000 107,000 Accountant II 20 21 Accountant II 108,000 22 Accountant il 109,000 23 Accountant Ill 105,000 24 Accountant Ill 109.000 25 Accountant III 109,000 26 Accountant III 110,000 27 Accountant III 110,000 28 Accountant Ill 110,500 29 Accountant III 112,000 30 Accountant Ill 115,000 31 Accounting Manager 120,000 127,500 32 Accounting Manager Plot the salary data against the job evaluation points you calculated. The annual salary in dollars is the Y axis, the job evaluation score, in points, is the X axis. Calculate a 'best fit' salary line and, using that line, develop an equation for converting job evaluation points into an annual salary. (i.e. y = mx + b... where the salary equals y, and the number of job evaluation points equals x). You may use any application software you wish to create the salary line (e.g. Excel). Using your formula, calculate (or estimate) the average salary that should be paid to a fully competent employee, for a new job at Rainbow Life worth 800 job evaluation points. 3- Plot the salary data against the four accounting jobs. That is, the annual salary is on the Y axis, and each of the four jobs, in increasing order of job level is on the X axis. Use this data to create a recommended 'salary range' for each job. That is, for each job, recommend a starting salary, a job rate and a maximum salary. 4- Assume that employees 2,3,4 and 6 are female. Is there a pay equity problem with the job Accountant I? 5- Assuming that Rainbow Life wanted to pay their accounting staff, on average, at the 70th percentile of the average salaries paid by their competition in the Toronto marketplace, how would you go about doing that? Notes: O HUMA74 A4 522.docx - Word Save a Copy This is a challenging assignment and you may want to ask questions in class and read the assigned chapters in the text. Submit a summary of your work (8.5x11, 12pt, 1.5 line spacing) and upload it in Blackboard by the end of the day on June 10, 2022. The assignment is worth up to FIVE marks. Rubric: (5) Very thorough and detailed answers to all questions. (4) Good, detailed answers to all questions. (3) Adequate answers to most questions. (2) Fair attempt although not a complete solution or deficient in one or more critical aspects. (1) Incomplete answer. (0) Assignment not completed. ENG INTL 40 12:29 AM 07-06-2022 100%