YOU DO NOT NEED EXCEL PLEASE FILL OUT DATA FROM BENCHMARK SURVEY TABLE
You develop a streamlined pay survey and administer it to competitors in your industry. You ask for descriptive firm data (e.g., size, industry, annual revenue) as well as compensation data for each of your benchmark jobs, including base pay, bonuses, stock options, and benefits. [Note: All participating firms will receive a copy of the aggregate survey results.]
You receive data from 6 companies (referred to as companies A, B, C, D, E, & F) who recruit and hire similar benchmark jobs in the surrounding region. A portion of that pay data follows in the table below; specifically the table includes base pay salary data from the 6 companies for each benchmark job. You have already checked to ensure that summary job descriptions for the benchmark jobs (in the sample data) are appropriately similar to those in your firm (to ensure you compare apples to apples!). So your next task is to analyze the pay data and then generate weighted means for each benchmark job to use in future parts of the case.
From this point forward, assume no outliers, extreme data points, exist in the current dataset that you would have to analyze separately.
Task C
-Calculate the weighted means (for base pay) for each benchmark job. First, you must copy and paste the data file from UTC Learn into Excel. [15]
Degrees: 1= Highschool/GED 2= Associates 3= Bachelors 4- Masters/Graduate Compensable Factor Definitions: Skill abilities related to the job (hard and soft skills) Responsibility duty or task that applicant is required or expected to perform Effort applicant meets expectations to their best Compensable Factor Job evaluation for Information Technology (IT) Director Compensable Factor Job evaluation for Database Warehouse Analyst Degree (1,2,3,4) Weight [%] Points Degree (1,2,3,4) Weight [%] Points 25 100 3 25 75 4 3 25 75 2 25 50 Skill (50%) *Education Level *Degree of Technical Skills Responsibility (30%) Degree of Supervisory Responsibility *Scope of Job's Impact Effort (20%) * Degree of Analytical Thinking *Task Complexity 2 2 15 15 30 30 Skill (50%) Education Level * Degree of Technical Skills Responsibility (30%) * Degree of Supervisory Responsibility *Scope of Job's Impact Effort (20%) Degree of Analytical Thinking *Task Complexity 1 2 15 15 15 30 2 3 10 10 20 30 2 2 10 10 20 20 285 Points 210 Points Compensable Factor Job evaluation for Compensation & Benefits Senior Manager Compensable Factor Job evaluation for Operations Support Associate Degree (1,2,3,4) Weight [%] Points Degree (1,2,3,4) Weight [%] Points 3 3 25 25 75 75 3 3 25 25 75 75 Skill (50%) *Education Level *Degree of Technical Skills Responsibility (30%) *Degree of Supervisory Responsibility *Scope of Job's Impact Effort (20%) Degree of Analytical Thinking *Task Complexity ml 15 15 45 45 Skill (50%) Education Level * Degree of Technical Skills Responsibility (30%) *Degree of Supervisory Responsibility *Scope of Job's Impact Effort (20%) Degree of Analytical Thinking *Task Complexity 1 2 15 15 15 30 3 10 10 30 30 2 2 2 10 10 20 20 3 300 Points 235 Points Benchmark Jobs: JE Points Compensation & Benefits Senior Manager 300 points Information Technology (IT) Director 285 points Operations Support Associate 235 points Database Warehouse Analyst 210 points Recruiter 200 points TASK DATA FROM BENCHMARK JOB SURVEY - FALL 2020 - Company # of Job Incumbents Base Pay A Recruiter 3 47000 Avg Min Max B Recruiter 1 50000 Avg Min Max Recruiter 1 48000 Avg Min Max D Recruiter 2 Avg Min Max 51000 47000 54000 E Recruiter N Avg Min Max 49000 48000 51000 F Recruiter N 50000 Avg Min Max Degrees: 1= Highschool/GED 2= Associates 3= Bachelors 4- Masters/Graduate Compensable Factor Definitions: Skill abilities related to the job (hard and soft skills) Responsibility duty or task that applicant is required or expected to perform Effort applicant meets expectations to their best Compensable Factor Job evaluation for Information Technology (IT) Director Compensable Factor Job evaluation for Database Warehouse Analyst Degree (1,2,3,4) Weight [%] Points Degree (1,2,3,4) Weight [%] Points 25 100 3 25 75 4 3 25 75 2 25 50 Skill (50%) *Education Level *Degree of Technical Skills Responsibility (30%) Degree of Supervisory Responsibility *Scope of Job's Impact Effort (20%) * Degree of Analytical Thinking *Task Complexity 2 2 15 15 30 30 Skill (50%) Education Level * Degree of Technical Skills Responsibility (30%) * Degree of Supervisory Responsibility *Scope of Job's Impact Effort (20%) Degree of Analytical Thinking *Task Complexity 1 2 15 15 15 30 2 3 10 10 20 30 2 2 10 10 20 20 285 Points 210 Points Compensable Factor Job evaluation for Compensation & Benefits Senior Manager Compensable Factor Job evaluation for Operations Support Associate Degree (1,2,3,4) Weight [%] Points Degree (1,2,3,4) Weight [%] Points 3 3 25 25 75 75 3 3 25 25 75 75 Skill (50%) *Education Level *Degree of Technical Skills Responsibility (30%) *Degree of Supervisory Responsibility *Scope of Job's Impact Effort (20%) Degree of Analytical Thinking *Task Complexity ml 15 15 45 45 Skill (50%) Education Level * Degree of Technical Skills Responsibility (30%) *Degree of Supervisory Responsibility *Scope of Job's Impact Effort (20%) Degree of Analytical Thinking *Task Complexity 1 2 15 15 15 30 3 10 10 30 30 2 2 2 10 10 20 20 3 300 Points 235 Points Benchmark Jobs: JE Points Compensation & Benefits Senior Manager 300 points Information Technology (IT) Director 285 points Operations Support Associate 235 points Database Warehouse Analyst 210 points Recruiter 200 points TASK DATA FROM BENCHMARK JOB SURVEY - FALL 2020 - Company # of Job Incumbents Base Pay A Recruiter 3 47000 Avg Min Max B Recruiter 1 50000 Avg Min Max Recruiter 1 48000 Avg Min Max D Recruiter 2 Avg Min Max 51000 47000 54000 E Recruiter N Avg Min Max 49000 48000 51000 F Recruiter N 50000 Avg Min Max
