22MBAHR306 Compensation & Reward Management syllabus for MBA

Compensation:

Compensation, Meaning of compensation, Total Compensation/Reward and Its Components and Types, Importance of the Total Compensation Approach, Wages/Salaries, Some Other Terms, Theories of Wages, Does Compensation Motivate Behaviour?, Compensation Philosophy, Compensation Strategy, Compensation Policy, Base of Compensation Management, The Psychological Contract, Compensation and Legal Issues in Compensation Management, Factors Affecting Employee Compensation/Wage Rates/Wage Structure/Levels of Pay.

Compensation Management:

Meaning of Compensation Management, Methods of Wage Payment, Essentials of a Satisfactory Wage System, National Wage Policy in India, Wage Policy at the Organisational Level, Wage Problems in India, Components/Functions of Compensation Management/W&S Admin, Divergent Systems and Institutions for Wage Fixation in India.

Wage Determination Practices:

Divergent Systems for Wage Determination in Practice in Indian Organisations Introduction, Management’s Strategy, Reward Policy, Reward Management Processes, Reward Management Procedures, Pay Reviews, Planning and Implementing Pay Reviews, Procedures for Grading Jobs and Pay, Rates Fixation, Controlling Payroll Costs, Evaluation of Reward Processes, Some Other Trends, Boardroom Pay; Divergent Systems and Institutions for Wage Fixation in Practice in India, Management Strategy; Fringe Benefits, Fringe Benefits and Current Practices, Internal Audit of Compensation and Benefits; Different types of Direct and Indirect compensation include: Base Pay / Base pay; Commissions; Overtime Pay; Bonuses, Profit Sharing, Merit Pay; Stock Options; Travel/Meal/Housing Allowance; Benefits including: dental, insurance, medical, vacation, leaves, retirement, taxes; Merit pay; Incentive Pay; Deferred Pay ; Pay for time; Recreational facilities

Contingent Pay, Pay for Performance, Competence:

Competency-Based Pay, Skill-Based Pay, TeamBased Rewards, Gainsharing, Profit-Sharing Profit-Related Pay and Beyond Other Cash Payments and Allowances Overtime Payments Attendance Bonuses, Shift Pay, Clothing Allowances, Honoraria, Payments for Qualifications, Pay for Person, Pay for Excellence, Managerial Compensation and Rewards, Sales Force Incentive Programmes, Competency based Pay- Framework, Model and Challenges; Pay for Performance : Steps involved in the design for pay for performance - Intent ; Eligibility; Participation; Performance and Goal Criteria-Measurements ; Funding; Pay Outs and Timing; Benefits Impact & Administration; Evaluation.

Administration & Controlling Salary Costs and Salary Review:

Salary Survey data, Salary Costs, Salary Planning, Salary Budget, Salary Control, Salary Reviews, Guidelines for Salary Review Process, Responding to Negative Salary Review, Five Key Steps: Manager’s Guide to Annual Salary Review, Fixing of Salary, Method of Paying Salary, Flexibility, Process of Wage and Salary Fixation.

Operating, Non-financial Benefits(Intrinsic and Relational Rewards:

Role of Non-financial Benefits/Rewards on Employee Motivation, Types of Non-financial Benefits/Rewards, Planning the Nonfinancial Benefits/Rewards, A Few Most Effective Non-Financial Benefits/Rewards to Motivate Employees, Heineken’s Refreshing Approach to Reward, Non-financial Metrics Intellectual Capital Assessment and Market Implications of Human Capital, Recognition, Praise, Learning and Development, Achievement, Value Addition in Personality Others.

Assessment Details (both CIE and SEE)

• The weightage of Continuous Internal Evaluation (CIE) is 50% and for Semester End Exam (SEE) is 50%.
• The minimum passing marks for the CIE is 50% of the maximum marks.
• Minimum passing marks in SEE is 40% of the maximum marks of SEE.
• A student shall be deemed to have satisfied the academic requirements (passed) and earned the credits allotted to each course if the student secures not less than 50% in the sum total of the CIE (Continuous Internal Evaluation) and SEE (Semester End Examination) taken together.

Continuous Internal Evaluation:

There shall be a maximum of 50 CIE Marks. A candidate shall obtain not less than 50% of the maximum marks prescribed for the CIE.

CIE Marks shall be based on:

a) Tests (for 25Marks) and

b) Assignments, presentations, Quiz, Simulation, Experimentation, Mini project, oral examination, field work and class participation etc., (for 25 Marks) conducted in the respective course. Course instructors are given autonomy in choosing a few of the above based on the subject relevance and should maintain necessary supporting documents for same.

Semester End Examination:

• The SEE question paper will be set for 100 marks and the marks scored will be proportionately reduced to 50.
• The question paper will have 8 full questions carrying equal marks.
• Each full question is for 20 marks with 3 sub questions.
• Each full question will have sub question covering all the topics.
• he students will have to answer five full questions; selecting four full question from question number one to seven in the pattern of 3, 7 & 10 Marks and question number eight is compulsory.

Course outcome

At the end of the course the student will be able to:

CO1 Gain insights of various conceptual aspects of Compensation and Benefits to achieve organizational goals L1

CO2 Determine the performance-based compensation system for business excellence and solve various casesand can compose the business letters in English precisely and effectively. L3

CO3 Designing the compensation strategies for attraction, motivation and retaining high quality workforce. L2

CO4 Understand the Legal & Administrative Issues in global compensation to prepare compensation plan, CTC, wage survey and calculate various bonus.