MS-27

Management Programme

ASSIGNMENT
SECOND SEMESTER
(July to December)
2019

MS-27: COMPENSATION and

REWARDS MANAGEMENT

School of Management Studies

INDIRA GANDHI NATIONAL OPEN UNIVERSITY
MAIDAN GARHI, NEW DELHI – 110 068
 ASSIGNMENT

Course Code : MS – 27
Course Title : Compensation and Rewards Management
Assignment Code : MS-27/TMA/SEM - II/2019
Coverage : All Blocks

Note: Attempt all the questions and submit this assignment to the coordinator of your study centre on or
before 31st October, 2019.

1. Explain the role of compensation and rewards in an organization. Describe the compensation
structure of the organization you are working in or familiar with.

2. Discuss various approaches in designing compensation citing suitable examples. Explain the
merits and demerits of competency based and performance based compensation system.

3. Define performance-linked reward system. Explain the various steps involved in designing a
performance-linked reward system with suitable example.

4. Explain the factors which have contributed for the emergence of new pay structure. Define and
differentiate between bonus and fringe benefits, how are they linked to social security.

5. Explain the definition of wages under various labour legislations. Describe the elements of
wages which are common in all the statutory definition. Discuss, how minimum wage differs
from need based minimum wage?