MS-27

Management Programme

ASSIGNMENT
SECOND SEMESTER
(July to December)
2020

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 No. : MS-27/TMA/Sem-II/2020

Coverage : All Blocks

Note: Attempt all the questions and submit this assignment to the Coordinator of your Study
Centre on or before 31st October, 2020.

1. Explain the concept of compensation. What are the functions and responsibilities of a
compensation program?

2. Explain the concept of performance-linked reward system. Discuss the various steps
involved in designing a performance-linked reward system.

3. Explain the constitutional perspective on wages including the norms for fixation of
wages. Discuss the role played by the International Labour organization on the
protection of wages.

4. Discuss the salient features of the payment of Bonus Act, 1965, and Equal
Remuneration Act,1976.

5. What are the considerations for compensation policy at the macro and micro levels?
Explain their practical difficulties..