Syllabus
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Course Code: MC 319 Course Name: Optional Group II (HRM & General Management) - Compensation Management |
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| MODULE NO / UNIT | COURSE SYLLABUS CONTENTS OF MODULE | NOTES |
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| 1 | Role of Compensation in organization; Economic theories related to compensation; Strategic perspectives of Compensation; Compensation as motivational tool; Compensation policy. Internal & External equities in compensation system; Determining the worth of jobs; Understanding Inter and Intra-industry compensation differentials, Designing pay structure and administering compensation package; Understanding different components of compensation package like fringe benefits, Incentives & retirement plans; Pay for performance plans. Compensation of Special groups Corporate Directors, Chief Executives, Senior Managers; Components of executive compensation package, Compensation of professionals and knowledge workers, R&D Staff, Sales compensation plan, Expatriate pay. Statutory provisions governing different components of reward systems; Working of different Institutions related to reward system like wage boards, pay commissions. Role of trade Unions in compensation management. |
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