COMPENSATION MANAGEMENT

Paper Code: 
HRG 517
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

Course Learning outcomes

LearningOutcome(atcourselevel)

Learningandteachingstrategies

AssessmentStrategies

CO196: 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.

CO197:  To understand about different Job Evaluation techniques for determining basic pay.

CO198: To determine various components of a compensation package, how to structure them, and how to develop a company’s compensation policy.

C0199: To make them understand about different statutory/ voluntary benefits, perks, incentives, and employee services offered by different organizations in order to motivate employees for better performance and retention.

C0200:  To make them understand about the different provisions comes under different compensation acts.

Approaches ofTeaching:Interactive lectures and Discussion and PowerPoint presentation

 

Learningactivitiesforthe students:Self learning assignments,effective discussion,simulation and presentation

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

 

 

9.00
Unit I: 
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: 
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: 
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: 
Managerial Compensation:

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

9.00
Unit V: 
Legislation Concerning Wages:

Payment of Wages Act, 1936; Minimum Wages Act, 1948

Essential Readings: 

Essential Readings
• Aswathappa, K., Human Resources and Personnel Management , Tata McGraw Hill Publishing Company Ltd., New Delhi
• Deb Tapomoy, “ Compensation Management: text & cases, Excel Books.
• Rao.V.S.P, Human Resource management, Excel Book, New Delhi.
• Monappa Arun, Industrial Relations, Tata McGraw Hill Publishing Co. Ltd., New Delhi

References: 

Suggested Readings:

• 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

E-resources:
• https://www.pdfdrive.com/compensation-management-d38273087.html By: Rai Technology University
• https://books.google.co.in/books?id=F25lpZf0nowC&printsec=frontcover&sou... By: Tapomoy Deb

Journals:
• GNA Journal of Management & Technology
https://www.gnauniversity.edu.in/gna-journals
• South Asian Journal of Human Resources Management
https://www.scimagojr.com/journalsearch.php?q=21100860692&tip=sid&clean=0
• OPUS: Annual HR Journal
http://www.publishingindia.com/opus/

Academic Year: 
2022-2023
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