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Compensation &
Benefits
September
2023 Examination
1. SMT Ltd. Is newly
set up Pharma Company. This Company is established by DHRUV Business group as
part of its recent diversification exercise. The Company has appointed you as
an HR Manager of this newly set up Pharma Company. First assignment given to you
is to identify the special groups in ABC Ltd and decide how to compensate them?
(10 Marks)
Ans:
Introduction:
As
the newly appointed HR manager of SMT Ltd., a pharmaceutical company
established by the DHRUV business institution, I am responsible for identifying
the unique groups inside the organization and devising suitable compensation
techniques for them. In today's competitive business landscape, recognizing
various worker companies' outstanding contributions and ability sets is
critical for attracting and retaining top talent.
SMT Ltd. is a
newly established pharma company as part of the DHRUV business group's
diversification exercise. With
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assignments available with 100% surety and refund)
2. SHRIRAM AUTO is one
of the four wheeler manufacturers in India. The company is a well-known brand
in the Indian market. However, due to tough competition the company is facing
problem of high employee turnover. Company is not able to retain the talent.
You are heading the HR Department of SHRIRAM AUTO since last five years and
after looking into the problem of low employee retention rate, you found that
most of the employees are choosing to join the competitor’s organization due to
attractive benefits provided to employees by the company. In this backdrop, you
are now deciding to revamp the employee benefit program in your company. State
and explain the different employee benefits that you will provide under the
revamped employee benefits program? (10
Marks)
Ans:
Introduction:
As
the top HR department at SHRIRAM Auto, I have been tasked with addressing the
issue of high worker turnover. One of the main motives employees depart our
company is the appealing benefits our competitors provide. In light of this,
I'm determined to revamp our worker benefits software to enhance retention and
entice top talent. In this essay, I will define and explain the different
employee benefits provided under the made-over software.
Concept &
application:
In
today's competitive business surroundings, SHRIRAM Auto, one of the leading
4-wheeler producers in India, has been facing a significant task of high
employee turnover. As the top of
3.
INFOGRAPHICS
is a leading film post production company in India since 2010. Since its
inception, the company has not considered revision in compensation and benefits
program. This has led to Company’s loss in terms of quality human resources.
Hence, the company is considering the revision of pay now. In this background,
answer the following:
a.
Explain
how will you undertake job analysis? (5
Marks)
Ans:
Undertaking
a job analysis is crucial for any organization seeking to revise its
compensation and advantages program. It entails systematically gathering and
analyzing data about job duties, duties, requirements, and the skills and
knowledge needed to carry out the obligations efficaciously. Via conducting a
complete activity analysis, companies like INFOGRAPHICS can take advantage of
precious insights into their personnel, which may inform selections related to
b.
Explain
the importance of job evaluation in this context. (5 Marks)
Ans:
Introduction:
Job
evaluation is a systematic process businesses use to determine the relative
worth of various jobs in the business enterprise. It involves studying and
assessing every job's components and necessities to establish equitable and
fair compensation. Inside the context of INFOGRAPHICS, a leading movie
post-production organization in India, activity evaluation has become paramount
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