Compensation Management — Summer 2018

What is the role of compensation in organization? State out advantages of fair compensation.

Explain the 3P’s of compensation approach with recent development.

Differentiate between traditional compensation approach and total reward approach.

Explain internal and external factors considered while deciding compensation.

Differentiate between financial and non-financial rewards.

Discuss the reason behind different types of pay system.

How does reward impact on performance? Explain.

What are non-cash awards? Explain any five with suitable example.

Give difference between salary and wage.

Write a short note on Workmen’s compensation Act 1923.

What is minimum wages act 1948? Explain.

Which are the other types of pension schemes? Explain with suitable example.

Short note on Payment of gratuity act 1972.

Explain developing, managing and evaluating reward system.

Write a note on Maternity benefits Act, 1981

Write a note on Unorganized sector workers’ social security Act, 2008.

Explain Rewarding special group with suitable example.