Compensation And Benefits Management

Syllabus

                                                                MBA: 20IMG23GH1

UNIT-I

Compensation: Concept, Objectives, Financial and Non-Financial Compensation System. Economic and Behavioural Theories of Compensation. Compensation Structure, Job Evaluation, Approach to Compensation Management, Significance of Employee Compensation, New Trends in Compensation Management.

UNIT-II

Wage and Salary Administration: Theories of Wage Determination, Types of Wages, Salary Progression, Wage Boards and Pay Commissions. Pay for Performance Plans, Incentive Scheme: Merits, Demerits, Types of Incentive Schemes, Group Incentive Plans. Team Based Compensation: Introduction, Design of Team Based Compensation.

UNIT-III

Benefits and Services: Concept, Classification of Employee Benefits, Factors Influencing Benefits, Competency Based Compensation, Executive Compensation: Introduction, Components and Executive Compensation Design. Compensation of Special Groups, Employee Reward System in India.

UNIT-IV

Strategic Compensation Management: Strategic Compensation Design and Policies, Legal Framework of Compensation, Retirement Plans, Employee Welfare and Working Conditions-Statutory and Voluntary Measures. Taxation Issues and Employee Compensation: Tax Implications of Compensation, Compensation and the Income Tax Act.