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Question 4 (10 points) a) Onc method of evaluating jobs for the purpose of establishing appropriate compensation rates is the use of compensable factors. There are four (4) core/legally required compensable factors required to evaluate relative worth of jobs in an organization - skill, effort, responsibility, and working conditions. For each core compensable factor listed above, provide one example of a job that has a high level of that compensable factor and explain why you believe that it contains a high level of that compensable factor. In addition, for each core compensable factor listed above, provide one example of a job that contains a low level of that compensable factor and explain why you believe that it contains a low level of that compensable factor. {1/4 mark for each example x 8 examples and explanations - 4 marks) Hint/example: If a compensable factor were "Consequence of Error" (Note: this is NOT one of the core/legally required compensable factors), then a correct answer for an example of a job/activity that contained this compensable factor at a high level low level would be: High level of Consequence of Error - "Brain Surgeon - one major error could cause someone to lose their life, therefore the consequence of error could be high." Low level of Consequence of Error - "School Janitor - forgetting to damp mop a classroom one evening is not that important, therefore the consequence of error is likely low." Many organizations are considering the implementation of a Flexible Benefits program to replace the more common standard benefits packages where all employees receive the same benefits package. Considering Flexible Benefits, please provide four clear (4) advantages and four (4) disadvantages of flexible benefits to employees or the organization. (1/2 mark for advantage, and 5 mark for each disadvantage - 4 marks) If you were an employee, would you prefer a standard benefits package or a flexible benefits program? Why do you say that? What factors influence your decision related to which type of benefits program package you prefer? [1 mark to explain why you prefer the option - 1 mark, 1 mark to describe the factors influencing this decision = 1 mark, total 2 marka b) Question 4 (10 points) a) Onc method of evaluating jobs for the purpose of establishing appropriate compensation rates is the use of compensable factors. There are four (4) core/legally required compensable factors required to evaluate relative worth of jobs in an organization - skill, effort, responsibility, and working conditions. For each core compensable factor listed above, provide one example of a job that has a high level of that compensable factor and explain why you believe that it contains a high level of that compensable factor. In addition, for each core compensable factor listed above, provide one example of a job that contains a low level of that compensable factor and explain why you believe that it contains a low level of that compensable factor. {1/4 mark for each example x 8 examples and explanations - 4 marks) Hint/example: If a compensable factor were "Consequence of Error" (Note: this is NOT one of the core/legally required compensable factors), then a correct answer for an example of a job/activity that contained this compensable factor at a high level low level would be: High level of Consequence of Error - "Brain Surgeon - one major error could cause someone to lose their life, therefore the consequence of error could be high." Low level of Consequence of Error - "School Janitor - forgetting to damp mop a classroom one evening is not that important, therefore the consequence of error is likely low." Many organizations are considering the implementation of a Flexible Benefits program to replace the more common standard benefits packages where all employees receive the same benefits package. Considering Flexible Benefits, please provide four clear (4) advantages and four (4) disadvantages of flexible benefits to employees or the organization. (1/2 mark for advantage, and 5 mark for each disadvantage - 4 marks) If you were an employee, would you prefer a standard benefits package or a flexible benefits program? Why do you say that? What factors influence your decision related to which type of benefits program package you prefer? [1 mark to explain why you prefer the option - 1 mark, 1 mark to describe the factors influencing this decision = 1 mark, total 2 marka b)