HRM Midterms

• The manager and supervisor must get a (_____) of each job from organization.

  comprehensive picture
• Vertical and horizontal interconnections among jobs

  Analysis of the organizational structure
• Can be leverage to gain a competitive advantage for the company

  Analysis of the organizational structure
• The conduct of job analysis has behind it several reasons that are vital to human resources management and the supervision of the work to be done by the workers in the shop or the office.it is considered as building block of anything that human resource management does, as any personnel action requires information that is gleaned from job analysis

  The Rationale For Job Analysis
• It is considered as the (____) of anything that human resources management does, as any personnel action requires information that is gleaned from job analysis.

  Building block
• Job analysis is not the sole responsibility of the Human Resource Department but a (____)

  Cooperative effort of all operating departments.
• The study of jobs is the responsibility of the personnel department thru the job analyst who is trained to conduct the job evaluation program.

  Job analyst
• (____) starts with a careful understanding of the relationship of the jobs in the organizational structure.

  Job analysis
• (___) of a particular job is very important in the organization

  Correct title
• must have the same job titles

  Similar duties and responsibilities
• clarify the employees line of movement in the organizational structure

  Specific Title
• (___) must reflect the major job functions

  Job title
• (____) focuses on two important data or information that managers must have the right information about the nature of the employee’s job.

  Job analysis
• The result of any job analysis program is the writing of the job description.

  The job description
• contains information about the employee’s qualifications and traits required in the effective performance of the work assigned.

  Job specification
• The method to use depends upon the purpose of the analysis, the time element devoted to it, and the amount of money that company would like to spend for the activity.

  Job analysis method
• deal with the payment of labor employed in competitive enterprises.

  Wage Theories
• represent the payment of one factor of production that is manpower.

  Wages
• This theory is based upon the fundamental concept that labor is commodity and we have to pay the price according to supply and demand. The price of labor is called wages.

  Classical Wage Theory
• A just wage is described as wage which permits the recipient worker live in a manner keeping with his position in society. The workers’ cost of living should be considered first in the cost of production.

  The Just Wage Theory of St. Thomas Aquinas
• Based on the Malthusian theory of population and the law of diminishing returns. This theory holds the idea that the working capital of the nation provides a fund from which wages can be paid.

  Wage Fund Theory
• The bargaining theory proposes that labor is commodity like anything that could be bought at a price by the user. As a commodity, it carries with it a price that is determined by the bargaining process between the buyer and seller.

  Bargaining Theory of John Davidson
• The supply labor in any given economy on the whole depends upon the total number of individuals who want to work and available for work.

  The Marginal Productivity Theory
• The purchasing power theory tries to establish the relationship between wages and the level of economic activity.

  The Purchasing Power Theory
• It emphasizes that labor is the source of all product and that without this important component, there could be no good for human consumption.

  Labor Theory of Value
• Means that wages should be based on the cost of living. Any increase in economic growth would redound to increased wages.

  The Standard of Living Theory of Wages
• This is the most critical step in the survey procedure.

  Defining the labor market.
• that are to be included in the survey and that is common to most firm or industries

  detailed description of the key jobs and positions
• are labor grades that are comparatively stable in duties and responsibilities

  Key jobs
• The organization should make decisions, and one tool that is often used to simplify the process is the use of two-dimensional graph also known as

  data trend graph
• The line is drawn freehand so that the same number of data points fall above the line.

  Eye Inspection
• Least scientific and reliable

  Eye Inspection
• This uses the statistical formula; the trend line will normally follow a straight path.

  The Least Squares
• Presents more accurately the relationship between peso and money and the points for the key jobs.

  The Least Squares
• Using another statistical formula; the trend will normally take the form of a curve and may more accurately indicate the trend of the data.

  The Second Degree Curve
• The hierarchy of jobs to where the pay rate is attached.

  Wage and salary structure
• The design of wage and salary structure is the establishment of the

  job classes and rate ranges
• Employees’ salaries below the minimum pay grade for the job is called

  Green circle rate
• is paid to an employee doing similar functions that has a minimum and maximum pay and a series of step adjustments.

  Salary Range
• provide adjustments in pay for performance evaluation with distorting the salary pay plan.

  Salary Range