Compensation Management

Paper Code: 
HRG-517
Credits: 
3
Contact Hours: 
45.00
Objective: 

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

10.00
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.

8.00
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.

8.00
Unit IV: 
Managerial Compensation

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

10.00
Unit V: 
Legislation Concerning Wages

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

Essential Readings: 

• 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

References: 

• 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: 
2017-2018
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