Compensation Management (CM) — Winter 2020

1. Expatriate pay 2. Job matching 3. Convergence & Divergence (with respect to international reward policy)

1. Reward 2. Career family structure 3. Spot rate

Explain various elements of total rewards with necessary examples.

Discuss the characteristics and aims of reward management.

What is the difference between incentives and rewards and discuss the types of non-financial rewards.

Write a note on rewarding manual workers in brief.

Differentiate between intrinsic rewards and extrinsic rewards in context of individual and collective approach.

What is job evaluation? Explain any 3 methods with suitable examples.

Explain various transactional reward and relational rewards with necessary examples.

In Insurance sector, most of the jobs are sales representative and they are eligible for variable pay as their performance will depend on financial incentives. In the light of the above statement explain the various approaches to rewarding sales staff, supplementing your answer with the examples from insurance sector.

With reference to Payment of Wages Act 1936 answer the following questions: 1. Define Wages 2. List down the deductions which may be made from wages.

What are the functions of Advisory Board and Central Advisory Board constituted under Minimum Wages Act-1948?

XYZ limited deals with the branded garments since last 60 years. Most of the employees are nearer to retirement. The HR department gradually started replacement of old staff with new ones. Within a limited time, they have started receiving complain from various customers and shops regarding deterioration of quality. They have analysed this and found that employee change has impacted their quality. The new employees always resist and start questioning on methods and Techniques Company follows since the existence. New employees ask for freedom in their work. Compare to this, old workers felt ignored and are not able to cope up with changing culture. They always focus1 on historic old patterns and not ready to accept new changes. Young workers found limited control and found that old workers are misleading them. Situation got worse, day by day, resulted in conflicts, reduce in production quantity and quality. Management hires a consulting firm to solve this problem. They suggested reward strategy to motivate and engage employee.

How company can engage their employees in their work? 5.5

Do you think control system will benefit the company to overcome the 5.5 problem?

Do you think reward strategy will solve their problems? 5.5

Which type of other suggestion you would like to give to company to overcome 5.5 this problem? Justify with proper examples.