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Table Of Contents

Job Evaluation Criteria
Job Evaluation Process
Computerized job evaluation
Summary
Key terms
Discussion questions
References:
David A. Decenzo and Stephen P. Robbins, Personnel/Human Resource
Non-quantitative methods
Quantitative Methods
Managerial Implications of job evaluation
Advantages of job evaluation
Limitations/Drawbacks of job evaluation
Essentials of a successful job evaluation programme
Terry L.Leap and Michael D. Crino, Personnel/Human Resource
Background of Performance Appraisal
Terminological clarity
Objectives of performance appraisal
Purpose of Performance Appraisal
References
Charles J. Fombrun and Robert J. Laud (1983), “Strategic Issues in
Basics of Conducting Performance Appraisals
Performance Appraisal Program Design
Stages of Performance Appraisal
Performance Appraisal Process
Categories of performance appraisal methods
Traditional Methods
Modern Methods
Benefits of Performance Appraisals
Guidelines for Effective Performance Appraisal
Some common pitfalls
Expectations of a Manager from performance appraisal system
Use of Software for Performance Appraisals
SL.NO. TOPICS
2 INCENTIVES
2.1 MEANING OF INCENTIVES
3 FRINGE BENEFITS
1.1 Meaning of Compensation
1.3 Objectives of Compensation Management
3. Optimising Cost of Compensation: Compensation management aims at
Design and Implementation of Compensation Plan: After going through the
1.5 Types
Primary compensation
Time as a Basis form pay
The merits of the system
Following are the demerits of this system
Nominal and Real Wages:
How are wages determined?
Requisites of sound primary compensation structure
1. Internal Equity
Advantages of Job evaluation
2.External Competitiveness
3.Performance – based payment
Factors Affecting Wages
1.6 Job Evaluation
Wage and Salary Fixation
Overcoming Anamolies
Problems in Job Evaluation
Operational Problems
Job Evaluation and Performance Appraisal
PROCESS OF JOB EVALUATION
Appointment of Committee for Job Evaluation
Training for Job Evaluation
Defining Criteria for Job Evaluation
Selecting Methods of Job Evaluation
Job Classification
1.7 METHODS OF JOB EVALUATION
Ranking Method
Merits
Grading Method
Demerits
Point Method
Factor Comparison Method
Foctors Job-based pay Skill-based pay
1.8 WAGE/SALARY DIFFERENTIALS
Industrial and Occupational Differentials
Organisational Differentials
Personal Differentials
Implications of Wage/Salary Differentials
Wage Structure
Minimum Wage
Balance Method
EXECUTIVE COMPENSATION
Factors Affecting Executive Compensation
Questions:
The National Commission on Labour
Types of Incentives
Financial or Pecuniary Incentives Non-financial Incentives
1. Financial Incentives
2. Non-financial Incentives
Examples of Non-Financial Incentives
4. Sincere Interest in Subordinates as Individual Persons: The
6. Delegation of Responsibility: Delegation of rights and
Requirements of a sound incentive plan
6. Beneficial to both the workers and the management - The incentive plan
Categories of Incentive Plans
Halsey's Plan
Merits of Halsey's Plan
Rowan's Plan
Emerson's Efficiency Plan
Bedeaux's Plan
Taylor's Differential Piece Rate Plan
Merrick's Multiple Piece Rate Plan
Gantt's Task Plan
Profit sharing
Characteristics of Profit Sharing
Merits of Profit Sharing
Limitations of Profit Sharing
3.1 Meaning
Coverage
3.2 Need
3.3 Objectives
Factors Influencing Employee Benefit
1. For Employment Security
2. Health protection
3. For Old Age and Retirement Benefits
4. For Personnel Identification, Participation and Stimulation:
Questions :
I. THEORIES OF WAGES
DEFINITION OF WAGES UNDER INDIAN STATUTES
INDUSTRIAL DISPUTES ACT 1947
MINIMUM WAGES ACT
PAYMENT OF WAGES ACT
SUBSISTANCE THEORY OF WAGES - IRON LAW OF WAGES
SURPLUS VALUE THEORY
THE MARGINAL PRODUCTIVITY THEORY
Wage Theory advocated by Ricardo, David
Orthodox Labour Wage Theory
Institutionalism in Labour Markets
Monopsony and Bilateral Monopoly Models
Bilateral Monopoly
Lagged Short-run Labour Supply
The Cobweb Theory
Internal Labour Markets and Dual Labour Markets
Efficiency Wage Theories
Conclusion
II. THE WAGE STRUCTURE
Wage Structure Concepts
DETERMINANTS OF THE WAGE STRUCTURE
Economic Determinants
Job worth
Training
Employee tastes
Unions
Discrimination
Industrial Relations Explanations
Social Determinants
Organizational Determinants
Employee Acceptance
OTHER INFLUENCES ON THE WAGE STRUCTURE
Society
The Labour Market
The Organization
JOB EVALUATION
Objectives of Job Evaluation
Consultants
Compensation Department Involvement
Union Involvement in Job Evaluation
SUMMARY
III. WAGE FIXATION
Minimum Wages. –
Components of a minimum wages. –
Living wage. –
IV. WAGE PAYMENT
THE PAYMENT OF WAGES ACT, 1936
Purpose of the Act :
Important Provisions of the Act :
Section 3. Responsibility for payment of wages. - Every employer shall be
Section 4. Fixation of wage-periods.-
Section 5. Time of payment of wages. - (1) The wages of every person
Section 6. Wages to be paid in current coin or currency notes. - All wages
Section 7. Deductions which may be made from wages - (1) Notwithstanding
THE MINIMUM WAGES ACT, 1948
INTRODUCTION
Section 3. Fixing of minimum rates of wages. - [(1) The appropriate
Section 5. Procedure for fixing and revising minimum wages.- (1) In fixing
THE EQUAL REMUNERATION ACT, 1976
The purpose of the Act :
The important provisions of the Act:
Section 4: Duty of employer to pay equal remuneration to men and women
workers for same work or work of a similar nature. - (1) No employer shall
Section 5: No discrimination to be made while recruiting men and women
THE INTER-STATE MIGRANT WORKMEN (REGULATION OF
EMPLOYMENT AND CONDITIONS OF SERVICE) ACT, 1979
Important provisions under the Act :
Section 13 - Wage rates and other conditions of service of inter-State
Section 17. Responsibility for payment of wages. - (1) A contractor shall be
Section 18. Liability of principal employer in certain cases. - (1) If any
V. SALARY ADMINISTRATION
Salary Administration for Administrative and Professional Position
PROCEDURE
I. Initial Appointment
II. Salary Increases
III. Merit Awards
IV. Administrative Supplement
V. Salary Adjustment
SALARY ADMINISTRATION FOR REGULAR STAFF
1. Purpose:
2. Policy:
3. Salary Rates for Classified Titles:
Beginning Salary Rates for Classified Employees: Generally, all
Reinstated Employee Salary Rate: A reinstated classified staff
Reclassification:
Special or Other Salary Increases: Salary increases not related to
Salary Administration Responsibility: The Manager for Human
Salary Rates for Non-classified Titles:
Special or Other Salary Increases: Statutory or other special
Salary Administration Responsibility: The Board of Directors have
Merit Salary Increases:
1.2 Sales Personnel
Duties – Types :
Sales – Dealers
1.6. Remuneration
1.7. Rewards
1.8. Characteristics of rewards
Questions
Key Points
Objective
Structure
2.1 Introduction
2.2 Performance Measurement
2.3 Performance Measurement Techniques
Field Review
Critical incident Method
Management by objective method –
2.4 Essential Characteristics of performance appraisal
2.5 Quality expert professor Deming is not in favour of employee
assessment because
2.6 Summary
Self Assessment questions
Key guides
Annexure
2.3.1 A sample merit rating form used by a well known Company
LESSON 3
3.1 Introduction
3.2 Incentives to Sales Persons
3.3 Essentials for sound wage plan should have the following components
3.4 Essentials of a good incentive plan
3.5 Advantages of incentive plan are
3.5.1 Disadvantages of incentive method
3.6 Incentive and productivity performance
3.7 Commission as a compensation to sales person
Salary Method
Commissions
3.8 Summary
Related Questions
Key Answers / Points
4.1 Introduction
4.3 Perquisites of sales executives
4.4 Characteristic of Executive Compensation
4.5 Modern trend in executive compensation
Category ‘A”
Housing
Medical Reimbursement
Leave Travel Concession
Club Fees
Category “B”
Category “C”
4.5.2 Remuneration proposed for sales executives
Case 2
Case 3
I. Housing :
4.6 Reasons for high compensation for Sales Executives are
Key Notes
5.1 Introduction
5.2 Packages
Compensation
Summary;
Related questions
Key points
UNIT – V
Wage Boards
1.1 - INTRODUCTION
1.2 - THE OBJECTIVES OF WAGE BOARDS :
1.3 - GROWTH AND DEVELOPMENT OF WAGE BOARDS
Industries Covered
1.4 - COMPOSITION AND FUNCTIONS OF WAGE BOARDS
1.5 - WORKING OF THE WAGE BOARDS
1.6 - EVALUATION OF THE WAGE BOARDS
Remedies
1.7 – PAY COMMISSION
1.8 – SELF ASSESSMENT QUESTIONS
1.9 – FURTHER READINGS
Global Pay Systems: Compensation in Support of a Multinational Strategy
2.1 - INTRODUCTION
2.2 - TRADITIONAL SYSTEMS
2.3 - CHALLENGES FOR THE TRADITIONAL SYSTEM
2.4 - TOWARD A GLOBAL SYSTEM
2.5 - CONCLUDING COMMENTS
2.6 – SELF ASSESSMENT QUESTIONS
2.7 – FURTHER READINGS
COMPENSATION IN A KNOWLEDGE BASED GLOBAL ECONOMY
3.1– INTRODUCTION
3.2– CAPITALISM AND KNOWLEDGE IN A GLOBAL ECONOMY
3.3– COMPENSATION AND ORGANIZATIONAL STRATEGY
3.4– INTEGRATING KNOWLEDGE AND SKILL REQUIREMENTS
ORGANIZATION COMPENSATION AND EMPLOYEE INCOME
3.5– LIFE STYLE AND COMPENSATION
PAY AND SOCIAL CLASS
3.6– SOCIAL STRUCTURE AND INCOME
Class Family of Four Annual
Percentage of
U.S. Population
Family size Income Percentage of 4 Person Family
3.7– LIFESTYLE AND SOCIAL CLASS IN THE UNITED STATES
3.9 – SELF ASSESSMENT QUESTIONS
3.10 – FURTHER READINGS
THE WORLD OF PAY AND COMPENSATION
4.1- INTRODUCTION
4.2 - THE COMPENSATION PROGRAM
4.3 - JOBS AND PAY IN THE UNITED STATES
Foreign Competition – The Global Economy
4.4 - COMPENSATION AND GLOBAL ECONOMY
4.5 - DEREGULATIONS AND TAKEOVERS:
Becoming More Competitive
4.6 - INTERNATIONAL COMPENSATION
Home Country of Employees
Attracting Individuals to a Foreign Work Site
Site Desirability:
Transfer Incentives:
4.7 - DEVELOPING A COMPENSATION PROGRAM FOR
EXPATRIATES
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Compensation Management

Compensation Management

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