Here, we’ve provided below the Compensation Management notes for the MBA 4th semester. You can find the related details along with the study material which has been provided below for studying purposes. The core courses in an MBA program are Accounting, Finance, Marketing, Human Resources, Operations and Statistics. We provide below the direct weblink to the study materials of the MBA Compensation Management notes.
MBA 4TH SEM Compensation Management PDF Format
The Compensation means a wide range of financial along with non-financial rewards to their employees for the services that are rendered to the organization. This amount is paid to the employees in the form of wages, salaries, employee benefits which is like paid vacations, insurance maternal leave, free travel facility, retirement benefits and other additional benefits. Here, the monetary benefits compensate the employees as a direct form and they greatly motivate the employees. The compensation System needs to be designed such that they attain the below given objectives –
- The employees who can do their work and are capable should be attracted to the organization.
- Every existing employee need to be motivated enough to do their best within the organization.
- The employees who exist in the organization do not leave their organization.
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Recommended Books and Authors for MBA Compensation Management
- 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.
- 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.
- Mathis, Robert L. and Jackson Jphn. H (2003), HUMAN RESOURCE MANAGEMENT, Thomson South Western, Australia
- 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.
Entire Syllabus MBA Compensation Management 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
Important Questions in MBA Compensation Management 4th Semester
- 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 these days by the employer about work-life balance?
- What are the reasons behind in offering the Employees Benefits Programme?
- Discuss the different components of Employee Benefit Programmes
- Critically examine the reason for the Growth of Employees Benefits
- Enumerate the steps in Planning and Designing of Employees Benefit Programmes
- Define employees benefit program and discuss the issues faced by the 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 the advantages and disadvantages of this scheme.
- Define Wage board and critically examine the role of the 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 social security measures that have been initiated by the Government of India?
- What do you mean by social security? Discuss its importance and scope in the modern industry?