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DRIVE-Summer 2014
PROGRAM-MBADS (SEM
4/SEM 6) MBAFLEX/ MBAN2 (SEM 4) PGDHRMN
(SEM 2)
SUBJECT CODE &
NAME-MU0015 –Compensation and Benefits
BK ID-B1859
CREDIT & MARKS-4
Credits, 60 marks
Q1. Discuss the
contents of Job evaluation. Describe the process of Job evaluation.
(Explain the
contents of Job Evaluation, Explain the process of Job Evaluation)
Answer.
Contents of Job
Evaluation
The contents of job evaluation
are as follows:
1. Job analysis: It is the process of examining the job content
by breaking it down into its functions, elements, tasks, operations and
processes.
2. Job description: It is a written and general statement that
outlines the skills, education and training required by the potential employee to
perform the particular task.
Q2. Suppose you are
a HR Manager and you are asked to develop an effective Incentive Scheme for
your organization. What are the pre-requisites you will consider while
developing an Effective Incentive Scheme?
(Explain the
pre-requisites for an Effective Incentive Scheme)
Answer.
Pre-requisites
for an Effective Incentive Scheme
These pre-requisites are as
under:
1. The workers’ co-operation is
mandatory in execution of incentive schemes. The co-operation is required in respect
of methods adopted for analysis of result or output on basis of which payment
is done, the setting wage rate methods for different work categories and
prerequisites relating to job security, earnings and dispute settlement regarding
work standards.
Q3. Discuss the
types of managerial remuneration. Explain the elements of a managerial
remuneration
(Explaining the
types of managerial remuneration, Explaining the elements of a managerial
remuneration)
Answer.
Types of
managerial remuneration
Managerial remuneration comprises
of two important pays which are as follows:
1. Short term pay: The short term remuneration is related to
the bonuses (short term) and the base pay which are usually paid to the
managers according to their performance in the organisation.
Q4. Define Pay
Structure. What are its objectives? Explain the major decisions involved in
designing and setting competitive pay structures
(Definition of Pay
Structure, Objectives of Pay Structure, Explain the major decisions involved in
designing and setting competitive pay structure)
Answer:
Pay
Structure
Pay structure is the grouping of
pay grades or pay bands. There can be more than one pay structure in a
compensation plan. For instance, there may be one pay structure for service and
maintenance positions, one for sales positions and one for managerial positions.
Or, the organisation may have just one structure for all positions. The process
of developing the pay structure deals with internal and external analysis to
assess the compensation package for the specific job profile. A pay/salary
structure refers to the collection of salary grades, bands or levels,
connection of
Q5. Explain the
criteria’s considered for rewarding the employees for their good service
(Explanation of the
criteria’s responsible for rewarding the employees)
Answer.
Criteria’s considered
for rewarding the employees for their good service
The
criteria for rewarding the employees
for their good service in the firm are as follows:
1. Analysing and surveying of staff: Conducting the surveys is regarded
as one of the most critical challenge for the firms when it comes to motivate
their employees. For this the firm must deeply understand their employees as
well as their culture. Thus for this, they have created “Culture Critique” by
using the staff focus groups and also one-to-one
Q6. Write a short
note on the following:
a)Wage Policy Plan
in India
b)Voluntary
Retirement Scheme (VRS)
(Wage Policy Plan
in India, Voluntary Retirement scheme)
Answer.
a)
Wage
Policy Plan in India
Wage policy can be defined as the
principles which act as guidelines for determination of a wage structure. It
relates to all systematic efforts of the Government in relation to a national
wage and structure of wages.
The wage policy in India is built
around the following fundamental principles:
1. Equal compensation for an
equal work performed
2. Providing living wages for
employees
3. Payment of wages without any
deduction on the appointed dates
Get fully solved assignment, plz drop a mail with your sub code
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Charges rs
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