UNIT I Compensation management
An Introduction to Compensation Management, Theories of Compensation management, 3–P Concept in Compensation Management, Strategic Compensation Management, Strategic and Tactical Compensation Issues.
UNIT II Job Design, Job Evaluation and Compensation structures
Job Analysis & Design, Job evaluation and methods, understanding market pay and benchmarking, Base pay, Performance based pay, Competency based pay and Team based pay.
UNIT III Benefits and Services
Employee benefits, Long–term and Short–term benefits, Administration of benefits and the influencing factors, Employee welfare and services,
UNIT IV Legalization and Compensation
The legislative process – Payment of Wages Act 1936, Employees Insurance Act 1948, Workers Compensation Act 1923, Employees Provident Fund Act 1952
UNIT V Executive and International Compensation
Executive compensation – concepts and elements, Quantitative tools, Expatriate Compensation and its Objectives, Elements of Expatriate’s Compensation Package, Laws relating compensation.
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