Performance and Compensation Management

Performance and Compensation Management

 Unit–1

Performance Management: Performance Management System, Performance Counseling, Performance Planning, Performance Appraisal, Potential Appraisal, Problems and Errors in Performance Appraisal. Performance  Monitoring, Performance Implementation, Role of HR Professionals in Performance Management, Performance Management through Training and Development, Ethics in Performance Management.

Unit–2

Reviewing & Managing Performance: Performance Management and Strategic Planning, Alternative Models for Assessing Performance-Balance Score Card; EFQM Model; Outcome Metrics–Economic Value Added (EVA); Other Economic Measures. Building a High-Performance Culture-Performance Management & Employee Development, Performance Management and Rewards-Ethics in Performance Management.

Unit–3

Compensation and Benefits Management: Job Evaluation Approach to Compensation Management- Bonuses- Concept & Methods of Calculation-Pay for Performance, Competency-Based Pay, Equity Based Rewards, Team Rewards-Reward Strategy & Psychological Contract–Law Relating to Compensation-Executive Compensation, Benefits Administration, Employee Welfare and Working Conditions-Statutory and Voluntary Measures.

Unit–4

Executive Compensation: Components, Pay Structure in India, Linking Salary with Potential and Performance, Types of Rewards and Incentives, Wage Incentive Schemes in India, Wage Incentive Plans, Employee Benefits and Services, Special Features of Fringe Benefits, Benefit Programmes for Management and Other Employees, Administration of Benefits and Services, Recent Trends in Wages and Salaries in Indian Industries and Service Sector.