Syllabus
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Course Code: HRM-305 Course Name: Specialisation- C: HRM - Compensation and Reward Management |
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| MODULE NO / UNIT | COURSE SYLLABUS CONTENTS OF MODULE | NOTES |
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| 1 | Compensation Management: Concept, Goals and the theoretical foundations of Compensation Management: Economic and behavioural theories. Internal and external equity in Compensation System. Wage Differentials: Inter and Intra industry wage differentials. | |
| 2 | Reward Management: Concept, Aims, Components of Reward system: Monetary & Non-Monetary Rewards, Role of Reward in organisation, Strategic perspectives of Reward systems and strategies. Recent Development in Rewards and Recognition in business organisations. | |
| 3 | Understanding Compensation Packages: Designing Pay Level, Pay Matrix/Mix and Pay Structures Compensation of Chief Executives, Senior Managers, R & D Staff, Board of Director, Sales Executives. | |
| 4 | Incentive Schemes/ Payment –By-Results (PBR), Performance Linked Compensation, Incentives Plans; Fringe Benefits and Supplementary Compensation: Cafeteria Plans, Pensions Schemes and ESOPs | |
| 5 | India Code on Wages Act, 2019: Salient provisions. Tax Planning: Tax Implication of Employee Compensation Package to the Employer; Strategies to deal with the Workforce Redundancy. | |
| 6 | International Compensation Practices: Problems, Objectives and Elements of Expatriate’s Compensation Package. | |
