Total Rewards (Quantitative) Flashcards
1
Q
Name 2 Quantitative Methods
A
- Factor Comparison
- Point Factor
2
Q
Quantitative Techniques are also known as what terms?
A
Nontraditional or Factor Based Methods
3
Q
Define Quantititative Technique for Job Pricing
A
A specific value is assigned for each compensable Factor.
4
Q
Define Compensable Factor
A
Assigns monetary value to a requirement of the position that is considered important.
Example: experience, education, level of responsibility, autonomy, knowledge of specific technology
5
Q
Define Factor Comparison
A
Compensable Factors are ranked based on influence or impact that it has on the success of the role. Each factor is assigned a $$dollar$$ value and then at the end the amounts are added up and this becomes the job price or salary.
6
Q
Define Point Factor
A
Each compensable factor is assigned points.
