Compensation Management (CM) — Winter 2022

Intrinsic Motivation

Merit pay

Distributive Justice

Convergence

Contingent Pay

Strategic Reward

Explain the terms:

Reward Management

State the Influence of Total Rewards on Employee Satisfaction and Commitment in organization.

Planning for the reward strategy for expatriate employee is very different from local country employee – justify the statement by differentiating between the types of expatiates and briefly mention the various allowances which can be provided to them.

Explain various analytical and non-analytical schemes of job-evaluation. And how they can help to develop and maintain an internally equitable Grade and Pay Structure.

Employee engagement can go a long way in increasing employee productivity. Justify the statement by underpinning the concept of employee engagement, antecedents, consequences and types of employee engagement.

What do you mean by recognition scheme? State its benefits and principles. Also explain how you would design a recognition scheme in retail sector.

What is the difference between incentives and rewards? Discuss the types of non-financial rewards in brief.

Why knowledge workers reward packages are considered specially? What are the approaches can be used to reward knowledge workers?

What are the reasons for evaluating reward systems and what are the possible reasons for the lack of interest in evaluation and what can be done about it?

What is mean by Mediclaim Policy? Discuss some salient features.

Discuss payment of wages act 1936, for rules of deduction and enforcement of the act. Page 1 of

Write a note on Income tax act provisions with respect to salaried persons and also mention the prevailing income tax slabs at present.

Narmada Ltd is a Gujarat based oil refinery, having a capacity to produce nearly one third of country petroleum, oil and lubricant requirement. The biggest challenge for the company is to design a low-cost innovative employee benefits scheme. The company is operating in a highly competitive market after liberalization and employees needs to be on toes at selling points. The current compensation strategy is designed in view of market rate. With the joining of new director Mr. APTE the challenge faced is to devise the best compensation and benefit plan so that poaching of best employee by competitors can be prevented. He announced effective voluntary benefit discount schemes by building a mutual network with retail malls, travel agents, hotels, airlines, household appliances manufacture. Certain pension schemes were announced primafacie of two types defined benefit and defined contribution and employee were asked to choose between the two. He also announced certain loyalty programs and profit-sharing schemes among the employee. He also proposed periodic evaluation of the reward system With continuous innovation and evaluation he was a able to reduce the annual HR cost by 2 percent

Discuss the process of reward system in short. 0

Differentiate between the two types of pension schemes that is defined benefit and defined contribution discussed in this case.

Discuss in short the tax treatment of various benefits as per Income Tax Act. 0

Develop an alternative model of voluntary benefit which can be extended version of Mr. Apte taking into consideration the suitability of it with industry. Page 2 of