Compensation and Reward Management PDF

COMPENSATION AND REWARD MANAGEMENT
IV Semester: MBA
Course Code Category Hours / Week Credit Maximum Marks
L T P C CIA SEE Total
CMBC55 Elective
4 - - 4 30 70 100
Contact Classes: 45 Tutorial Classes: Nil Practical Classes: Nil Total Classes: 45
I. COURSE OVERVIEW:
The course focuses on the scope and objectives, of compensation and reward management concepts,
objectives compensation, methods analysing, evaluating reward management architectural
framework, benefits of the employee like management, and security issues in reward management
environment and final output of organization performance enable students to understand earning
position and market position of business concern. Compensation and reward management statements
are very useful to the business concerns to interpret and analyse the organization growth of different
companies. This course includes appreciate and use growth statements as means of business
communication. This course uses the analytical techniques and arriving at conclusions from market
information for the purpose of effective decision making.
II. COURSE OBJECTIVES:

The students will try to learn:
I. Compensation and reward system it must get approval from the govt. or top management in
theorganization.
II. Useful information about the latest thinking and developments compensation must be sufficient
so that needs of the employees are fulfilledsubstantially.
III. Practice of compensation management Employees must have guarantee of getting wages or
compensation regularly without anybreak.
IV. New realities of how organizations are approaching the vital tasks of managing for rewards and
developing the capabilities of theirpeople.
III. COURSE OUTCOMES:

After successful completion of the course, students will be able to:
CO 1: Analyze the contribution of a compensation system to the effectiveness of an
organization and identify opportunities for improvement of those systems.
CO 2: Design performance pay and indirect pay plans necessary to attract, retain and motivate
the workforce.
CO 3: Analyze different types of rewarding procedureofemployees on the basis of
performance.
CO 4: Summarize some similarities and differences Betweenfinancial and non-financial
benefits for the employees.
CO 5: Discuss the compensation and benefit practices that contribute to attracting and
retaining high quality employees.
CO 6: Identify the differences between job analysis and job design for assigning the work to
employees.
CO 7: Recognize how pay decisions help the organization achieve a competitive advantage.
CO 8: Interpret the opportunities provided by the organizationand organizational benefits to
the employees
CO 9: Analyze, integrate and apply the knowledge to solve compensation related problems in
organization.
CO 10: Examine the functional requirements for the employee
IV. SYLLABUS
UNIT-I INTRODUCTION TO COMPENSATION MANAGEMENT Classes: 09
Compensation, theoretical dimension, economic and behavioral; designing the pay model strategic
compensation plan; wage and salary administration at the macro level.
1
UNIT-II WAGE AND SALARY ADMINISTRATION Classes: 09
Wage and salary administration at the micro level job evaluation, definition, traditional and new
techniques; compensation structure, Indian practices; wage boards, pay commissions,
compensation management in multinational organizations.
UNIT-III CONCEPTS OF EMPLOYEE BENEFITS Classes:10
Incentives, fringe benefits; establishing a link with performance appraisal and compensation
management.
Performance linked compensation; benefits and services.
UNIT-IV PERFORMANCE BASED PAY Classes:09
Managerial remuneration pays commission; performance based
paysystemincentives,executives‟compensation plan and packages.
UNIT-V COMPENSATION STRTERGIES Classes:08
Compensation strategy: Recognizing the worth and value of employees knowledge and skill,
rewarding employees contributions and results achieved, supporting team work, compensation
package according tocurrent lifestyle and new thinking in the new millennium.
Text Books
1. Dr. Vinay Ojha, “Compensation and Reward Management” 7th Edition, 2019.
2. Pradip Kumar Das “Compensation and Reward Management”, “Himalaya publishing house “,
in 2019.
3. George Milkovich,” Compensation and Reward Management”, McGraw-Hill Higher
Education, 2019.
4. Sharma RC, “Compensation and Reward Management”, 2017.
5. Ojha Vinay, “Compensation and Reward Management,”, 2016.
6. Richard.i. Henderson, “Compensation Management in a Knowledge Based World”,
Prentice-hall, 1st Edition, 2001.
7. Edwarde.e. Lawler, “Rewarding Excellence (pay strategies for the new economy)”,
Prentice-hall, 1st Edition, 2004.
8. B D Singh, „‟Compensation and Reward Management‟‟, Sterling Publishers (P) Ltd, Kindle
Edition, 2001.
Reference Books:
1. Thomas. P.Plannery, David, “People Performance and Pay”, Free Press, 1st Edition, 2002.
2. Michael Armstrong, “Hand book of Reward Management”, Crust Publishing House, 2nd
Edition, 2003.
3. Joseph.J. Martocchio, “Strategic Compensation - A Human Resource Management Approach”,
Prentice Hall, 4th Edition, 2005.
Web References:
1. https://www.scribd.com/doc/94052058/human-resource-management-notes
2. www.studynama.com › ... › mba/pgdmhr lecture notes, ebooks andhandouts
E-Text Books:
1. https://www.studynama.com/community/threads/348-compensation-management-pdf-notes-
ebook-download-for-mba-hr-students
2. http://www.eiilmuniversity.co.in/downloads/compensation-management.pdf.
3. https://www.amazon.in/dp/B0082BYR8U/ref=cm_sw_r_apan_glt_ZNQ8DCMHCC5RRF0GYW
8Z.
4. https://www.amazon.in/dp/B00AQKYRRQ/ref=cm_sw_r_apan_glt_5JDG8ADGJ1DH81KHBZ
XW.
5. https://www.amazon.in/dp/B00AQKYRRQ/ref=cm_sw_r_apan_glt_5JDG8ADGJ1DH81KHBZ
XW.

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COMPENSATION AND REWARD MANAGEMENT

II. COURSE OBJECTIVES:

III. COURSE OUTCOMES:

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