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Master
of Business Administration - MBA Semester 4
MU0015-Compensation
and Benefits
Note:
Answer all questions must be written within 300 to 400 words each. Each
Question carries 10 marks 6 X 10=60.
Q1. Discuss the contents of Job
evaluation. Describe the process of Job evaluation.
Answer. Contents of Job Evaluation
The contents of job evaluation are as follows:
1. Job Analysis
It is a process through which required
information about various aspects of jobs can be obtained. Job analysis
involves two dimensions:
i. Job description
Under job description, a profile of job
information is prepared indicating the duties, responsibilities and working
condition of work. It explains about what the job entails.
ii. Job specification
Job specification indicates preparation of a
specification statement which explains the necessary skills, knowledge and
abilities required to perform the job.
Q2. Suppose you are a HR Manager and
you are asked to develop an effective Incentive Scheme for your organization.
What are the pre-requisites you will consider while developing an Effective
Incentive Scheme? Discuss the merits of Incentives.
Answer. Pre-requisites of Effective
Incentive Schemes
You can conclude by now that for all firms a
well-designed system of wage payment can yield a number of advantages. But it is also true that to realize these
advantages there must be some safeguards known as pre-requistions of effective
incentive plans.
Q3. Discuss the types of managerial
remuneration. Explain the elements of a managerial remuneration
Answer. Managerial remuneration is compensation for services provided to a
company in a managerial capacity. This can include cash payments, along with
benefits like stock options, health insurance, and bonuses. Managers are
typically paid more than the people they supervise, although they tend to make
less than the executives at the head of the company. Some pay structures are
transparent, making it easy to determine how much money managers make, while
others may be confidential.
Q4. Define Pay Structure. What are its
objectives? Explain the major decisions involved in designing and setting
competitive pay structures.
Answer. A pay structure is a collection of pay rates or pay ranges. Structure
setting and adjustment is the process of developing, adjusting, and maintaining
a pay structure.
Q5. Explain the criterion’s considered
for rewarding the employees for their good service.
Answer. In a business world where fewer workers are
doing more, employers have "fallen way short of giving employees the
recognition deserved and expected for a job well done,” Guld says. Providing
that recognition requires developing award criteria.
Q6. Write a short note on the
following:
A) Wage Policy Plan in India
B) Voluntary Retirement Scheme (VRS)
(Wage Policy Plan in India, Voluntary
Retirement scheme)
Answer. a) Wage Policy Plan in India
FALL-2017
Get
solved assignments at nominal price of Rs.125 each.
Any
issues mail us at: subjects4u@gmail.com or contact at
08894344452, 8219081362
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