MU0015–Compensation and Benefits

SUMMER-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. Explain compensation as a retention strategy. Describe the significant compensation issues.

Answer. Compensation as a retention strategy

1. Keep Salaries Competitive

Regardless of a person's field, she wants to know her compensation is competitive with what others who perform similar work are earning. Salaries need not be the highest in your area but should be among the top. Paying low

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

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 manufacturing jobs occurred among workers in the bottom decile, both for men and women. This partly reflected a long term trend, but it also included the consequence of the 1991 recession, which marked a major

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 and timing of purchases,

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 the

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

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

SUMMER-2015

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

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

09882243490