FULLY SOLVED BOOK LASY 5 YEARS PAPERS SOLVED PLUS GUESS

Compensation and Benefits Management

UNIT-I
Compensation: concept, objectives, financial and non-financial compensation system. Economic and Behavioural
theories of compensation. Compensation structure, job evaluation, approach to compensation management,
significance of employee compensation, new trends in compensation management.
UNIT-II
Wage and salary administration: theories of wage determination, types of wages, salary progression, wage boards
and pay commissions. Pay for performance plans, incentive scheme: merits, demerits, types of incentive schemes,
group incentive plans. Team based compensation: introduction, design of team based compensation.
UNIT-III
Benefits and services: concept, classification of employee benefits, factors influencing benefits, competency
based compensation, Executive compensation: introduction, components and executive compensation design.
Compensation of special groups, Employee reward system in India.
UNIT-IV
Strategic compensation management: strategic compensation design and policies, Legal framework of
compensation, retirement plans, employee welfare and working conditions-statutory and voluntary measures.
Taxation issues and employee compensation: tax implications of compensation, compensation and the Income
Tax Act.