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COMPENSATION MANAGEMENT

OBJECTIVES
To understand the various dimensions of Compensation Management
To know how the compensation options are determined
To gain awareness of the role of various bodies involved in Compensation
Management

METHODOLOGY
Theories and core concepts will be learnt through lectures, case discussions and industry
based field work.

UNIT-I
Job Evaluation – Definition – Traditional and new Techniques – Performance Appraisal –
Basic concepts – Performance standard – Appraisal methods.

UNIT-II
Compensation – Definition – Classification – Types – incentives – fringe benefits.

UNIT-III
Theories of wages – wage structure – wage fixation – wage payment – salary administration.

UNIT IV
Rewards for sales personnel – pay – commission – pay and commission – performance based
pay system – incentives – Executives compensation plan and packages.

UNIT-V
Wage Boards – Pay Commissions – Compensation Management in Multi-National
organizations.

TEXT BOOKS
1. Richard.I. Henderson: COMPENSATION MANAGEMENT IN A KNOWLEDGE
BASED WORLD – Prentice-Hall.
2. Richard Thrope & Gill Homen: STRATEGIC REWARD SYSTEMS- Prentice-Hall.

REFERENCES
1. Thomas.P. Plannery, David.A. Hofrichter & Paul.E.Platten: PEOPLE PERFORMANCE &
PAY – Free Press.
2. Michael Armstrong & Helen Murlis: HAND BOOK OF REWARD MANAGEMENT –
Crust Publishing House.
3. Joseph.J. Martocchio: STRATEGIC COMPENSATION – A HUMAN RESOURCE
MANAGEMENT APPROACH – Prentice-Hall.
4. Edwarde.E.Lawler III: REWARDING EXCELLENCE (Pay Strategies for the New
Economy) – Jossey-Bass.

WEB RESOURCES
http://www.hrvillage.com/
http://www.hrexecutive.com/
http://www.shrm.org

ILLUSTRATIVE EXERCISE
Each student choose an organization, study the compensation package system and prepare a
report.
COMPENSATION MANAGEMENT

OBJECTIVES
To understand the various dimensions of Compensation Management
To know how the compensation options are determined
To gain awareness of the role of various bodies involved in Compensation
Management

METHODOLOGY
Theories and core concepts will be learnt through lectures, case discussions
and industry based field work.

UNIT-I
Job Evaluation – Definition – Traditional and new Techniques –
Performance Appraisal – Basic concepts – Performance standard –
Appraisal methods.
UNIT-II
Compensation – Definition – Classification – Types – incentives – fringe
benefits.
UNIT-III
Theories of wages – wage structure – wage fixation – wage payment –
salary administration.
UNIT IV
Rewards for sales personnel – pay – commission – pay and commission –
performance based pay system – incentives – Executives compensation plan
and packages.
UNIT-V
Wage Boards – Pay Commissions – Compensation Management in Multi-
National organizations.

TEXT BOOKS
 Richard.I. Henderson: COMPENSATION MANAGEMENT IN A
KNOWLEDGE BASED WORLD – Prentice-Hall.
 Richard Thrope & Gill Homen: STRATEGIC REWARD SYSTEMS-
Prentice-Hall.

REFERENCES
 Thomas.P. Plannery, David.A. Hofrichter & Paul.E.Platten: PEOPLE
PERFORMANCE & PAY – Free Press.
 Michael Armstrong & Helen Murlis: HAND BOOK OF REWARD
MANAGEMENT – Crust Publishing House.
 Joseph.J. Martocchio: STRATEGIC COMPENSATION – A HUMAN
RESOURCE MANAGEMENT APPROACH – Prentice-Hall.
 Edwarde.E.Lawler III: REWARDING EXCELLENCE (Pay Strategies
for the New Economy) – Jossey-Bass.

WEB RESOURCES
http://www.hrvillage.com/
http://www.hrexecutive.com/
http://www.shrm.org

ILLUSTRATIVE EXERCISE
Each student choose an organization, study the compensation package
system and prepare a report.