Compensation Management

Paper Code: 
HRG 517
Credits: 
4
Contact Hours: 
45.00
Objective: 

Course Objective

 The objective of this subject is to promote an understanding of issues related to the compensation in the organizations.

Course Learning outcomes

Course

Learning Outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

 

 

CO187: To understand key concepts

related to labor market dynamics in

determining employee wages, bases  of

their pay, and executive compensation

that are equitable and competitive as

well as cost-effective in attracting and

retaining people.

 

CO188:  To analyze  the different Job Evaluation techniques for determining basic pay.

CO189: To determine various components

of a compensation package, how to

structure them, and how to develop a

company’s compensation policy.

 

 C0190: To evaluate

different statutory/ voluntary benefits,

perks, incentives, and employee services

offered by different organizations in

order to motivate employees for better

performance and retention.

 

C0191:  To create an understanding  about the different provisions comes under different compensation acts.

 

Approaches of Teaching: Interactive lectures and Discussion and Power point presentation

CA test, Semester end examination, Presentation, Quiz, and Interaction

 

 

 

 

 

 

HRG 517

 

 

 

 

 

 

Compensation Management

Learning activities for the students: Self               learning assignments, effective discussion, simulation       and presentation

 

 

9.00
Unit I: 
Unit 1

Employee Compensation Management: Concept, Process of determining compensation, Significance of Employee Compensation,

Wage concepts – Minimum wage, Fair wage, Living wage; Wage Theories, wage policy in india.

9.00
Unit II: 
Unit 2

Wage determination: wage determination metods,Job Evaluation, Wage Differentials, Wage Fixation – Statutory wage fixation, Wage Boards & Pay Commissions, Collective bargaining, Adjudication.

9.00
Unit III: 
Unit 3

Wage Components: Basic Salary, DA , Fringe benefits, Bonus,  Wage Incentive system in india, Profit sharing and stock options, VRS

Methods of wage payment – Time, Piece Rate. 

9.00
Unit IV: 
Unit 4

Managerial Compensation: Recent trends in Managerial compensation in Indian Organizations and Role of HR Department in compensation management.

9.00
Unit V: 
Unit 5

Legislation Concerning Wages: Payment of Wages Act, 1936; Minimum Wages Act, 1948

Essential Readings: 
  • Deb Tapomoy, “ Compensation Management: text & cases, Excel Books.
  • 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.
  • Monappa  Arun, Industrial Relations, Tata McGraw Hill Publishing Co. Ltd., 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 :
  • 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;

 

Academic Year: