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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.
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.
Wage determination: wage determination metods,Job Evaluation, Wage Differentials, Wage Fixation – Statutory wage fixation, Wage Boards & Pay Commissions, Collective bargaining, Adjudication.
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.
Managerial Compensation: Recent trends in Managerial compensation in Indian Organizations and Role of HR Department in compensation management.
Legislation Concerning Wages: Payment of Wages Act, 1936; Minimum Wages Act, 1948
- 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;
