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Compensation Management
The objective of this subject is to promote an understanding of issues related to the compensation in the organizations.
Concept, Objectives, Significance and principles of Compensation Management, common types of compensation.
Wage concepts –Types of Wages: Minimum wage, Need-based Minimum Wages, Fair wage, Living wage, Wage policy in India
Wage Determinant Methods(Legislation, Wage Boards & Pay Commissions, job Evaluation, Collective Bargaining, Adjudication& Arbitration) Types of Wage Differentials, Wage Theories
Wage Components: Basic Salary, DA (evolution and its significance), Fringe benefits, Bonus, Incentives (Individual, group and organization wide) Methods of wage payment – Time and Piece rate wage system
Concept, Strategies and techniques of Job Design, methods of Analysis, Compensation Design through Compensable Factors.
Compensation Management and Job Evaluation: Concept, Techniques, Process and limitations.
Team-Based Compensation: Concept, Effective Team-Based Compensation, Recent trends in Team-Based Compensation.
: Factors Influencing Effective Compensation Management, Motivational issues in Compensation, Impact of Compensation on Employees Behaviours, Consequences of Dissatisfaction with Compensation.
Concept, Principles of Executive Compensation, Factors Affecting Executive Compensation, Compensation trends in India.
Strategic Compensation Management: Compensation Design and Strategy, Aligning Strategies to Transform People, Strategic Planning, Strategic Compensation Policies, Strategic Compensation and Talent issues in Global Hiring
• Aswathappa, K., Human Resources and Personnel Management , Tata McGraw Hill Publishing Company Ltd., New Delhi
• Rao.V.S.P, Human Resource management, Excel Book, New Delhi.
• Subramaian K.N. Wages in India, Tata McGraw Hill Publishing Co. Ltd., New Delhi
• Verma, Pramod Wage Determination: Concepts and Cases , Oxford and IBH, Publication, New Delhi.
• Tapomoy Deb, Compensation Management: Text & Cases, Excel Books, New Delhi.
• Dipak Kumar Bhattacharyya, Compensation Management, Oxford University Press, New Delhi.
• Sharma, A.M. Industrial Relations, Conceptual and Legal Framework, Himalaya Publishing House
• Poole Michael, Industrial Relations; Origins and Patterns of National Diversity; Routledge & Kegan paul, London.
• Keer, Clark and Staudohar, Paul D., Industrial Relations in a New Age, Jossey- Bass Publishers, San Franciso;
