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DRIVE-FALL
2016
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
Job content is evaluated based on work type, skills and knowledge
required; value is evaluated based on each job's contribution to company goals.
Three of the most commonly used methods of job evaluation, upon which other
methods are based, can be
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? Discuss the merits of Incentives.
(Explain
the pre-requisites for an Effective Incentive Scheme, Explain the merits of
Incentives)
Answer.
Pre-requisites
for an Effective Incentive Scheme
These pre-requisites
are as under:
·
The
incentive scheme must be influenced by scientific work measurement like the
standards set must be
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
The term remuneration covers the
following types of expenditure incurred by the company for its Director or his
family –
·
Rent
free accommodation;
·
Any
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
A pay/salary structure
refers to the collection of salary grades, bands or levels, connection of
related jobs within a series or hierarchy which helps the organisation in
providing a framework for the implementation of various policies and reward
strategies within the organisation. Various salary structures are connected
with varying types of salary progression
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
disregarded 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 interviews for
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
Wages means all
remuneration expressed in terms of money and includes remuneration payable
under any award or settlement, overtime wages ,wages for holiday and any sum
payable on termination of employment(bonus is not included. The wage policy in
India is built around the following fundamental principles:
1.
Equal
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