Performance and Reward Management

Syllabus

KMBNHR04

PERFORMANCE AND REWARD MANAGEMENT

Unit 1                                                                                                                                           (7 hours)

Introduction to Performance Management System: Meaning, Uses and Purpose of Performance Management, Performance Management vs Performance Appraisal, Performance Management and its Challenges in Current Scenario, Performance Management as a System and Process, Establishing Performance Criterion of Developing an Effective Appraisal System, Criteria (KRA, KSA VS KPI). Case Studies

Unit 2                                                                                                                                           (7 hours)

Managing Performance: Methods of Managing Performance of All the Levels of Management (Including Labour), 360 Degree Performance Appraisal, Performance Feedback & Counseling Methods, Performance Analysis for Individual and organisational Development. Case Studies

Unit 3                                                                                                                                           (7 hours)

Contemporary Issues: Potential Appraisal, Competency Mapping & its Linkage with Career Development and Succession Planning, Balance Score card: Introduction and Applications, Advantages and limitations, Advantage & Disadvantage of Online Appraisal, Case Studies

Unit 4                                                                                                                                           (7 hours)

Reward System: Compensation- Meaning, Function, Job evaluation: Methods of job Evaluation, Inputs to job Evaluation, Practical Implication for Technical/Non-Technical and Executive/Managerial Positions and Significance of Wage Differentials. Case Studies

Unit 5                                                                                                                                          (8 Hours)

Compensation: Method of pay and Allowances, Pay Structure: Basic Pay, DA, HRA, Gross Pay, Take Home Pay etc. Incentive Schemes; Methods of payment: Time and Piece Rate. Fringe benefits & other allowances: Overtime, City Compensatory, Travelling etc. Regulatory Compliance: Introductions, Wage and Pay Commissions, Overview of Minimum Wages Act-1948 and Equal Remuneration Act-1976. Profit Sharing Options; Case Studies.