Table of Contents
Action Items
- Identify 8 job descriptions within Discover Financial Services.
- Locate 8 job descriptions that are typical of employees within your organization. These job descriptions should represent a variety of jobs, including the lowest skill level, technical, professional, supervisory, and senior management.
- Format and organize the job descriptions so they appear uniform. They should have all required sections as discussed in Milkovich et al. (2017), exhibit 4.2.
- Develop a job evaluation process using the point method.
- Examine the 8 job descriptions. These job descriptions should represent the benchmark jobs that best represent the business conducted by your organization that you identified in Plan 1. If one of your job descriptions is not a benchmark job, then delete it from the group and add another job description that is a benchmark job.
- Create a point plan for all 8 jobs. Include at least 3 to 5 compensable factors, factors numerically scaled, and weights reflecting the relative importance of the factors to each other.
- Conduct a market survey. Collect data for all 8 jobs you identified for your organization’s industry as benchmark jobs from several different salary survey sources. The following data needs to be collected:
- Base Salary
- Incentives
- Total Compensation
- Compile all of your information into one document.
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