Download compensation management notes for mba pdf. Exide t ltd, battery masters u ltd and chloride exide r ltd. Knowledge about essential elements of compensation c. The sprea d of the range determines the maximum and minimum limits for a comaratio. Mba iii semester201416 batch compensation management subject code. Compensation management before reading the compensation management topic, one should know the impact of compensation system on the organisation and its gravity if it is not managed effectively. It also involves managing company benefit programs to make sure they meet the needs of the current workforce. Welcome back to my channel as you guys already know my channel will provide you so many things at one step compensation management unit2 mba. This course is designed to promote understand in issues related to compensation in corporate sector and impart skills in designing, analysis and restructure compensation management system, policies and strategies. Compensation management is one of the most challenging human resource areas because it contains many elements and has a farreaching effect on the organisations goals. Whether or not compensation management would be good is the question to be asked. Mba projects listed here consists of ppt, pdf,seminar topics,project reports for free download.
Describe the methods of compensation, rewards, compensation structure and policy. Book full of anwers of compensation management pdf. First and last word on compensation management is that, it is core and direct influencing factor on employee motivation and other factors succeeds. There have been several innovations in the field of compensation. Awareness about the compensation structure and differentials. Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. In simple terms, compensation is everything that a company offers its employees in return for their talent and time. Mwangi a project report submitted to the chandaria school of business in partial fulfillment of the requirement for the degree of masters in business administration mba united states international university spring 2014. The aspect of how skewed compensation management leads to higher attrition is discussed as well. Compensation administration is one of the most important areas of human resource management because sound compensation policies, programmes and their effective execution are essential to procure, maintain and develop the human resource of the organization to get effective result from them.
The comparatio limits can be calculated by the following formula. Compensation management notes for mba pdf download 4th sem. Compensation refers to a wide range of financial and nonfinancial rewards to employees for their services rendered to the organization. Book full of anwers of compensation management pdf download please login cite. Compensation policy is derived from organisational strategy and its policy on overall human resource management. Employee compensation may achieve several purposes in. Compensation management is the act of providing monetary value to an employee for the work they do by means of a company process or policy. Employee compensation may achieve several purposes in recruitment, jobperformance and job satisfaction. Explain the definition, meaning and implications of compensation. Compensation management best and simple material and ebook download one more book on compensation management. Compensation management assignments help is most preferred assignment help service provided by the studentsassignmenthelp compensation management deals with providing an inducement to the workers for their best performance for the development of the organization. Compensation management tries to strike a balance between these two with specific objectives. Written in a student friendly style, it focuses on the strategic importance of compensation and its effective management. Direct compensation refers to monetary benefits offered and provided to employees in return of the services they provide to the organization.
Compensation management refers to the establishment and implementation of. When organized the right way, compensation dollars can be strategically leveraged to reduce turnover, boost employee engagement and attract top talent. Compensation management assignment help for mba students. Responsibility a safety of others 25 50 75 100 b equipment and materials 20 40 60 80 c assisting trainees 5 20 35 50 d productservice quality 20 40 60 80 2. Mba ii semester iv compensation management hr elective. Compensation may be adjusted according the the business needs, goals, and available resources. Compensation needs to be high enough to attract applicants. Compensation managers are responsible for working with employment data and keeping up with. In order to make compensation management to work effectively, the organisation should clearly specify its compensation policy, which must include the basis for determining base compensation, incentives and benefits and various types of perquisites to various levels of employees. Mbah4030 compensation managementcorrect rate of pay.
Compensation management is the process of ensuring that an organizations salaries and bonuses remain competitive, appropriate, and equitable. Compensation management plays a crucial and functional role because it is the heart beat of human resource management. Issues and challenges aggregate wage bill of 100 large companies having a turnover of more than rs. Compensation management and employees performance in. This summer we have been assigned to do a project in our specialization. Compensation management bba course overview the students on completion of the course shall develop the following skills and competencies. Compensation management free ebooks,notes and material. It is also vital to both employees and the employer. The purpose of providing compensation is to attract, retain and motivate employees. Compensation management process mba knowledge base. Dear mba colleagues i have the lecture notes for the subject compensation management that i am sharing with all of you in this thread.
Pay levels must respond to the supply and demand of workers in the labor market since employees compare for workers. Should know the nature and scope of compensation management b. Compensation management, also known as wage and salary administration, remuneration management, or reward management, is concerned with designing and implementing total compensation package. This is because employees typically depend on wages and salaries, and. Compensation management as the name suggests, implies having a compensation structure in which the employees who perform better are paid more than the average performing employees. Compensation is a tool used by management for a variety of purposes to further the existence of the company. As i have decided to take hrm,i am in a dilemma what project to take as sipsummer internship program. Understand the objective of compensation management. Compensation management mba hr free download as word doc.
Chloride exide group of companies consists of chloride exide k ltd, chloride. Economic theories and compensation management 77 5. The text is developed through original research by the author, and focuses on industry application through case studies on practices followed by. Compensation management is a comprehensive textbook designed to meet the requirements of mba pgdm students. Mba with specialization in hrm ma in social workpg diploma in hrmma in. Compensation management notes for mba pdf download 4th. There are two main types of financial compensation. Unit 1 overview of compensation management learning objectives after completion of the unit, you should be able to. Project on compensation management ppt download citehr. It is paid in the form of wages, salaries and employee benefits such as paid vacations, insurance maternity leave, free travel facility, retirement benefits, etc. The courses will emphasis on this compensation model.
To provide insights in to strategic choices in managing compensation. Internship report compensation management practices and. In human resource management, we should not just use rewards to acknowledge good perfor mances, instead, as a more strategic design of compensation. The policy should be linked with the organisational philosophy on human resources and strategy. As the module progresses, readers would be introduced to other aspects of compensation management like the components of compensation management, types of compensation, inclusion of variable pay, the use of employee stock options etc. Human resource management free study notes for mba. Compensation management oup india oxford university press. The attached pdf file will help you in your preparation for compensation management and help you clearing your semestertrimester exams with ease. Compensation is a vital part of human resource management, which helps in encouraging the employees and improving organizational effectiveness. International compensation management mba knowledge base. Compensation is the human resource management function that deals with every type of reward individuals receive in exchange for performing an. View notes compensation and welfare management full notes. Compensation management meaning and important concepts. This level of studies, 1st and 2ndyear masters level, is intended for industrial or commercial business employees, insurance companies, or social engineering companies wishing to.
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