MU0015–Compensation and Benefits

Spring-2015

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Master of Business Administration- MBA Semester 4

MU0015–Compensation and Benefits-4 Credits

(Book ID: B1859)

Assignment (60 Marks)

Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10 marks 6 X 10=60.

Q1. (i) What is meant by “compensation management”?

(ii) Organizations design out the employee compensation packages based on some ‘compensation’ and ‘non-compensation’ dimensions. Describe in brief the compensation’ dimensions.

Answer. (i) Meaning of compensation management - Compensation management is a general policy, implemented in conjunction with specialized software, designed to help an organization maximize the returns on available talent. The ultimate goal is to reward the right people to the greatest extent for the most relevant reasons.

Q2. Explain the steps involved in designing a salary structure. List the components of pay structure.

Answer. Ten steps for building a salary structure:-

1 -Establish your compensation philosophy. Each employer needs a policy which outlines their desired market position. What percentile of the market is your target?   Which comparators are appropriate?  Is the target the same for all grades?   A well-articulated compensation policy provides valuable guidance for the development of a salary structure.  In large

Q3. Define the term ‘wage’. Write a brief note on ‘wage policy’.

Answer. A wage is monetary compensation (or remuneration) paid by an employer to an employee in exchange for work done. Payment may be calculated as a fixed amount for each task completed (a task wage or piece rate), or at an hourly or daily rate, or based on an easily measured quantity of work done.

A pronounced decline in Q4. Explain the concept of ‘tax planning’ with an example. Explain its role in Compensation Benefits.

Answer. Concept of tax planning

How it works/Example:

Tax planning entails creating portfolios or circumstances that are as tax efficient as possible. This requires investors and companies to give consideration not just to the size of their incomes or profits, but also to the nature

Q5. Define ‘reward management’. What are its aims? Explain the factors affecting reward management policies in service sector.

Answer. Definition of reward management - Reward management is concerned with the formulation and implementation of strategies and policies that aim to reward people fairly, equitably and consistently in accordance with their value to the organization.

2. Aims of reward management - Reward Management is concerned with the formulation and implementation of strategies and policies that aim to reward people fairly, equitably and consistently in accordance with their value to

Q6. Who are ‘Expatriates’? What are the objectives of ‘Expatriate compensation’? Differentiate between Financial (extrinsic) compensation and Non-financial

Answer. Meaning of expatriates 'Expatriate' An individual living in a country other than their country of citizenship, often temporarily and for work reasons. An expatriate can also be an individual who has relinquished citizenship in their home country to become a citizen of another.

Objectives of expatriate compensation - Major objectives on which most of the expatriate compensation plans are designed are mentioned

Spring-2015

Get solved assignments at nominal price of Rs.120 each.

Mail us at: subjects4u@gmail.com or contact at

08894344452, 08894387490