Compensation Management: You can download the Study materials and notes for Compensation Management in PDF files from the official website.
Compensation Management Books
The Books and Study materials for the Fourth semester MBA examination are now updated on the official website. Candidates who are on a hunt for the notes for the fourth semester MBA can check the site and download the necessary article which they need. We have updated several notes on various subjects so that you can choose from them accordingly. In this article, we are focusing on the subject Compensation Management. The purpose of compensation management is to make the most of company dollars in a way that rewards employees for their work. The core courses in an MBA program cover various areas of business such as accounting, finance, marketing, human resources, operations, and statistics, etc.
Compensation Management Books 2018
Compensation management is the commitment to provide monetary value to an employee for the work they do use a company process or policy. Some types of compensation include salary, bonuses, and benefit packages. Companies use compensation management to find, keep, and motivate employees to do quality work. The final goal is to reward the right people to the most significant extent for the most relevant reasons. In this field, managers can help contribute to growth and profitability by ensuring that pay structures and benefits plans are aggressive and that they are created and managed to attract and retain a quality workforce. We are just helping you to get basic knowledge about the subject by providing the necessary Books and Study Materials and with the detailed Syllabus so that you can prepare according to that.
MBA Compensation Management Syllabus – 4th Semester
Unit – I
Compensation – Definition – Compensation Responsibilities – Compensation System Design Issues – Compensation Philosophies – Compensation Approaches
Unit – II
Compensation Classification – Types – Incentives – Fringe Benefits – Strategic Compensation Planning – Determining Compensation – The wage Mix – Development of Base Pay Systems – The Wage Curve – Pay Grades – Salary Matrix – Compensation as a Retention Strategy.
Unit – III
Theories of Wages – Wage Structure – Wage Fixation – Wage Payment – Salary Administration – Executive Compensation – Incentive Plans – Team Compensation – Gain Sharing Incentive Plan – Enterprise Incentive Plan – Profit Sharing Plan- ESOPs – Compensation Management in Multi-National organizations.
Unit – IV
Methods of Rewarding of Sales Personnel – Pay – Commission – Pay and Commission – Performance-Based Pay Systems – Incentives – Executive Compensation Plan and Packages – Perceptions of Pay Fairness – Legal Constraints on Pay Systems.
Unit – V
Wage Boards – Pay Commissions – Employee Benefits – Benefits Need Analysis – Funding Benefits – Benchmarking Benefit Schemes – Employee Benefit Programmes – Security Benefits – Creating a Work-Life Setting – Designing Benefit Packages
Compensation Management Notes for MBA Pdf
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Suggested Books for MBA Compensation Management
- Dewakar Goel, PERFORMANCE APPRAISAL, AND COMPENSATION MANAGEMENT, PHI Learning, New Delhi.
- Richard.I. Henderson, COMPENSATION MANAGEMENT IN A KNOWLEDGE-BASED WORLD, Prentice Hall India, New Delhi.
- Richard Thrope & Gill Homen, STRATEGIC REWARD SYSTEMS, Prentice Hall India, New Delhi.
- Michael Armstrong & Helen Murlis, HANDBOOK OF REWARD MANAGEMENT, Crust Publishing House.
- Bhatia S.K.(2003), NEW COMPENSATION MANAGEMENT IN CHANGING ENVIRONMENT, Deep and Deep, Publishers, New Delhi.
- Chappra T.N. (2006) ESSENTIALS OF ORGANIZATIONAL BEHAVIOR, Dhanpat Rai, and Company Delhi.
- Fisher, Cynthia D, Schoenfeldt Lyle F. Shaw James. B (2004) HUMAN RESOURCE MANAGEMENT, Biztantra, New Delhi p.543.
- Flippo, Edwin B. (1989), PERSONNEL MANAGEMENT, Mc-Graw-Hill, Tokyo.
- Gupta. C.B. (2005): HUMAN RESOURCE MANAGEMENT, Sultan Chand Publishers, New Delhi
- Khan, S.M. “EFFECT OF LIKING SYNDROME ON COMPENSATION NEED SATISFACTION” Indian Journal of Industrial Relations, 38 (2) Oct.2002, 199-210.
- Mathis, Robert L., and Jackson John. H (2003), HUMAN RESOURCE MANAGEMENT, Thomson South-Western, Australia
Frequently Asked Questions
- Define Wage board and critically examine the role of a wage board
- Critically examine the pay commission role in fixation of employees compensation over the period
- Enumerate the special features of six pay commission
- Six Pay Commission – Discuss the anomalies
- Why World Bank criticized the 6th pay commission of India
- Define Employees Benefit Programme
- What are the reasons behind in offering Employees Benefit Programme?
- Discuss the different components of Employee Benefit Programmes
- Critically examine the reason for Growth of Employees Benefits
- Enumerate the steps in Planning and Designing of Employees Benefit Programmes
- Define employees benefit programme and discuss the issues faced by Employees Benefit Programme
- Define social security benefits to employees
- Bring out the historical background of social security laws of India
- How the act of social security laws of India works both in organized sectors and unorganized sectors of industry in India?
- Explain the different types of Social Security available in India.
- Enumerate the Government of India Initiatives on Social Security Benefits.
- Discuss the social security coverage in India and explain its advantages and disadvantages of this scheme.
- What are social security measures have been initiated by the Government of India?
Compensation Management MBA Related Questions
- What do you mean by social security? Discuss its importance and scope in the modern industry?
- Explain the concept of social security and discuss its dynamic nature.
- Write a note on the following:
a) Objectives of Social security
b) Social assistance
c) Group Life Insurance
d) Retirement Benefits
- Define work-life balance
- What are the factors taken into consideration while designing work-life balance?
- Define work-life balance. What will be the impact if there is no work-life balance in the organization?
- Critically examine the options available to the organization to make effective work-life balance
- Discuss the steps in designing work-life balance
- What are the different misperceptions made in these days by the employer about work-life balance?
We have updated all the necessary materials which are needed for the preparation for fourth semester MBA examination. Candidates can download the files in Pdf format for free or can purchase it directly. So without further delay students can start preparing for their test. If proper preparation is done for the exam you can clear the exam with flying colors. Make sure that you share this link with your friends so that the books will be helpful for them also.
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