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MU0015 —Compensation and Benefits

Dear Students,

SMU MBA Summer 2014 Assignments are available. For Booking ,Kindly mail us on kvsude@gmail.com OR call us to +91 9995105420  or S M S your “ Email ID ” us in the following Format  “  On +91 9995105420 we will reach back you with in 24H ”

 

 

DRIVE-Summer 2014

PROGRAM-MBADS (SEM 4/SEM 6) MBAFLEX/ MBAN2 (SEM 4)  PGDHRMN (SEM 2)

SUBJECT CODE & NAME-MU0015 —Compensation and Benefits

BK ID-B1859

CREDIT & MARKS-4 Credits, 60 marks

 

Q1. Discuss the contents of Job evaluation. Describe the process of Job evaluation.

(Explain the contents of Job Evaluation, Explain the process of Job Evaluation)

Answer.

Contents of Job Evaluation

The contents of job evaluation are as follows:

 

1. Job analysis: It is the process of examining the job content by breaking it down into its functions, elements, tasks, operations and processes.

 

2. Job description: It is a written and general statement that outlines the skills, education and training required by the potential employee to perform the particular task.

 

 

Q2. Suppose you are a HR Manager and you are asked to develop an effective Incentive Scheme for your organization. What are the pre-requisites you will consider while developing an Effective Incentive Scheme?

(Explain the pre-requisites for an Effective Incentive Scheme)

Answer.

Pre-requisites for an Effective Incentive Scheme

These pre-requisites are as under:

 

1. The workers’ co-operation is mandatory in execution of incentive schemes. The co-operation is required in respect of methods adopted for analysis of result or output on basis of which payment is done, the setting wage rate methods for different work categories and prerequisites relating to job security, earnings and dispute settlement regarding work standards.

 

Q3. Discuss the types of managerial remuneration. Explain the elements of a managerial remuneration

(Explaining the types of managerial remuneration, Explaining the elements of a managerial remuneration)

Answer.

Types of managerial remuneration

Managerial remuneration comprises of two important pays which are as follows:

 

1. Short term pay: The short term remuneration is related to the bonuses (short term) and the base pay which are usually paid to the managers according to their performance in the organisation.

 

 

 

Q4. Define Pay Structure. What are its objectives? Explain the major decisions involved in designing and setting competitive pay structures

(Definition of Pay Structure, Objectives of Pay Structure, Explain the major decisions involved in designing and setting competitive pay structure)

Answer:

Pay Structure

Pay structure is the grouping of pay grades or pay bands. There can be more than one pay structure in a compensation plan. For instance, there may be one pay structure for service and maintenance positions, one for sales positions and one for managerial positions. Or, the organisation may have just one structure for all positions. The process of developing the pay structure deals with internal and external analysis to assess the compensation package for the specific job profile. A pay/salary structure refers to the collection of salary grades, bands or levels, connection of

 

 

Q5. Explain the criteria’s considered for rewarding the employees for their good service

(Explanation of the criteria’s responsible for rewarding the employees)

Answer.

Criteria’s considered for rewarding the employees for their good service

The criteria for rewarding the employees for their good service in the firm are as follows:

1. Analysing and surveying of staff: Conducting the surveys is regarded as one of the most critical challenge for the firms when it comes to motivate their employees. For this the firm must deeply understand their employees as well as their culture. Thus for this, they have created “Culture Critique” by using the staff focus groups and also one-to-one

 

 

Q6. Write a short note on the following:

a)Wage Policy Plan in India

b)Voluntary Retirement Scheme (VRS)

(Wage Policy Plan in India, Voluntary Retirement scheme)

Answer.

a)      Wage Policy Plan in India

Wage policy can be defined as the principles which act as guidelines for determination of a wage structure. It relates to all systematic efforts of the Government in relation to a national wage and structure of wages.

The wage policy in India is built around the following fundamental principles:

1. Equal compensation for an equal work performed

2. Providing living wages for employees

3. Payment of wages without any deduction on the appointed dates

 

 

Dear Students,

SMU MBA Summer 2014 Assignments are available. For Booking ,Kindly mail us on kvsude@gmail.com OR call us to +91 9995105420  or S M S your “ Email ID ” us in the following Format  “  On +91 9995105420 we will reach back you with in 24H ”

 

 

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