MU0015-Compensation and Benefits

FALL-2015
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Master of Business Administration - MBA Semester 4
MU0015-Compensation and Benefits
(Book ID: B1859)
Assignment (60 Marks)
Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10
marks 6 X 10=60.
Q1. Discuss the contents of Job evaluation. Describe the process of Job evaluation.
Answer. Contents of Job Evaluation
The contents of job evaluation are as follows:
1. Job Analysis
It is a process through which required information about various aspects of jobs can be obtained. Job
analysis involves two dimensions:
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.
Answer. Pre-requisites of Effective Incentive Schemes
You can conclude by now that for all firms a well-designed system of wage payment can yield a number of
advantages. But it is also true that to realize these advantages there must be some safeguards known as
pre-requistions of
Q3. Discuss the types of managerial remuneration. Explain the elements of a managerial remuneration
Answer. Managerial remuneration is compensation for services provided to a company in a managerial
capacity. This can include cash payments, along with benefits like stock options, health insurance, and
bonuses. Managers are typically paid more than the people they supervise, although they tend to make
less than the
Q4. Define Pay Structure. What are its objectives? Explain the major decisions involved in designing and
setting competitive pay structures.
Answer. A pay structure is a collection of pay rates or pay ranges. Structure setting and adjustment is the
process of developing,
Q5. Explain the criterion’s considered for rewarding the employees for their good service.
Answer. In a business world where fewer workers are doing more, employers have "fallen way short of
giving employees the recognition deserved and expected for a job well done,” Guld says. Providing that
recognition requires developing award
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
The term “wage policy” here refers to legislation or government action calculated to affect the level or
structure of wages or both, for the purpose of attaining specific objectives of social and economic policy.
1. To eliminate malpractices in the payment of wages.
2. To set minimum wages for workers, whose bargaining position is weak due to the fact that they are
either un-organised or inefficiently organised? In other words, to reduce wage differential between the
organised and
FALL-2015
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