DHRM401–COMPENSATION & BENEFITS

Description

SESSION	JAN-FEB 2026
PROGRAM	MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER	IV
COURSE CODE & NAME	DHRM401 COMPENSATION MANAGEMENT

 

Assignment Set – 1

 

Q.1. Explain compensation management along with different components of Compensation under both Indirect and Direct Compensation? Explain the process of value-based compensation design with a structure. (10 Marks)

Ans 1.

Compensation Management

Compensation management is the approach of planning the, implementing and managing the complete reward system offered to employees in exchange of their contributions to the organization. This includes both monetary and non-monetary incentives that the company offers in order to attract to, motivate, and retain the workforce. Effective compensation management ensures internal equity (fairness among employees within the organization) External

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Q.2. Define methods, systems, and processes of job evaluation. Explain the concept of Equity at both Internal & External levels. (10 Marks)

Ans 2.

Job Evaluation – Definition and Purpose

Job evaluation is the systematic, analytical process of assessing the worth of different jobs within an organization, regardless of how well the employee working in the current position. It provides the objective foundation to design pay structures that are equitable by creating a rational classification of job positions according to their nature, content and requirements for skill, accountability as well as working

 

Q.3. Define Wage Policy. Describe the fundamental principles around which the wage policy is built? Explain the advantages of collective bargaining. (10 Marks)

Ans 3.

Wage Policy – Definition

Wage policy is the comprehensive list of policies, rules policies, regulations and rules that an organization or government sets up to regulate how wages and salaries are established as well as how they are structured, administered and periodically revised. On a national scale in India, the policy on wages is guided by legislation including legislation such as the Minimum Wages Act, the Payment of Wages Act, the Equal Remuneration Act, and the Code on Wages 2019 which unifies several statutes from

 

 

Assignment Set – 2

Q.4. Define concept of salary structure and elucidate different types of salary structure. Explain the various steps of salary designing. (10 Marks)

Ans 4.

Concept of Salary Structure

A salary structure is an system that allows an organization determines its pay rate for various positions or pay levels, as well as categories of employees. The structure defines the range of pay available for each job, or job family informing the minimum, middlepoint and the highest compensation at the various levels. An effective salary structure gives a logical, robust basis for making

 

Q.5. Briefly explain the concept and nature of Employee Benefits. Explain perks, fringe benefits and service with examples. (10 Marks)

Ans 5.

Concept and Nature of Employee Benefits

The benefits of employees are indirect, non-cash forms of compensation provided to employees in addition to the direct wage or salary. They reflect the investment of employers in the welfare of employees, their security as well as the quality of their working life that goes beyond immediate payment in cash. Benefits typically offered on a comprehensive basis for every employee or a defined group of employees and are not individualized, which makes them a form of group compensation

 

Q.6. Explain the objectives of Performance Management. Briefly explain the process of Performance Management by depicting it through a flowchart. (10 Marks)

Ans 6.

Objectives of Performance Management

Performance management is an extensive and continuous method by the employees and their managers collaborate to organize, monitor, review to improve their performance for achievement of the goals set for their organization. The goals are diverse and interconnected. Strategic Objective: The management of performance is a means of aligning individual goals for employees with company and departmental goals and ensures that each employee’s everyday work directly