Compensation Management

Paper Code: 
HRG 517
Credits: 
03
Contact Hours: 
45.00
Max. Marks: 
100.00
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 Determinant Methods, 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: 
  1. Aswathappa, K., Human Resources and Personnel Management , Tata McGraw Hill Publishing Company Ltd., New Delhi
  2. Rao. V.S.P,Human Resource Management,Exceel Book, New Delhi.
  3. Monappa Arun,Industrial Relations, Tata McGraw Hill publishing Co. Ltd., New Delhi
  4. Subramaian K.N. Wages in India, Tata McGraw Hill Publishing Co. Ltd., New Delhi
  5. Verma, Pramod Wage Determination: Concepts and Cases , Oxford and IBH, Publication, New Delhi :
References: 
  1. Sharma, A.M. Industrial Relations, Conceptual and Legal Framework, Himalaya Publishing House
  2. Poole Michael, Industrial Relations; Origins and Patterns of National Diversity; Routledge & Kegan paul, London.
  3. Keer, Clark and Staudohar, Paul D., Industrial Relations in a New Age, Jossey- Bass Publishers, San Franciso;
Academic Year: 
2018-2019
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