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DRIVE-Summer 2016
PROGRAM-MBADS (SEM
4/SEM 6)MBAFLEX/ MBAN2 (SEM 4)PGDHRMN (SEM 2)
SUBJECT CODE &
NAME-MU0015 –Compensation and Benefits
BK ID-B1859
CREDIT & MARKS-4
Credits, 60 marks
Q1.Discuss the
contents of Job evaluation. Describe the process of Job evaluation.
(Explain the
contents of Job Evaluation, Explain the process of Job Evaluation)
Answer.
Contents of Job
Evaluation
Job
content is evaluated based on work type, skills and knowledge required; value
is evaluated based on each job's contribution to company goals.
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.
(Explain the pre-requisites
for an Effective Incentive Scheme, Explain the merits of Incentives)
Answer.
Pre-requisites
for an Effective Incentive Scheme
These pre-requisites are as
under:
·
The
incentive scheme must be influenced by scientific work measurement like the standards
set must be practical and inspiring. In addition, the employees must be
provided with necessary resources to meet these standards.
Q3.Discuss the
types of managerial remuneration. Explain the elements of a managerial
remuneration
(Explaining the
types of managerial remuneration, explaining the elements of a managerial
remuneration)
Answer.
Types of
managerial remuneration
The
term remuneration covers the following types of expenditure incurred by the
company for its Director or his family –
·
Rent
free
·
Q4. Define Pay
Structure. What are its objectives? Explain the major decisions involved in
designing and setting competitive pay structures
(Definition of Pay
Structure, Objectives of Pay Structure, Explain the major decisions involved in
designing and setting competitive pay structure)
Answer:
Pay
Structure
A pay/salary structure refers to
the collection of salary grades, bands or levels, connection of related jobs
within a series or
Q5.Explain the
criteria’s considered for rewarding the employees for their good service
(Explanation of the
criteria’s responsible for rewarding the employees)
Answer.
Criteria’s
considered for rewarding the employees for their good service
The
criteria for rewarding the employees
for their good service in the firm are as follows:
1.
Analysing and surveying of staff: Conducting the surveys disregarded
as one of the most critical challenge for the firms when it comes to motivate
their employees. For this the firm must deeply understand their employees as
well as their culture. Thus for this, they have created “Culture Critique” by
using the staff focus groups and also one-to-one interviews for both
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
Wages means all remuneration
expressed in terms of money and includes remuneration payable under any award
or settlement, overtime wages ,wages for holiday and any sum payable on
termination of employment(bonus is not included. The wage policy in
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