Q. Explain the role of Compensation. Why is an effective Compensation Policy an important function of Management? Discuss. Describe the compensation structure of an organisation you are familiar with.
Answer. Compensation is the HRM activity that deals with every type of reward that individuals receive for performing organizational ................
From the employees’ perspective, pay is a necessity in life. The compensation received from work is one of the chief ................
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Q. Explain the Payment of Bonus Act, 1965. Is the employer liable to pay minimum bonus even in case of loss in the establishment? Discuss. Describe, when an employee can become disqualified to claim bonus citing suitable example from an organisation you are familiar with.
Answer. The Payment of Bonus Act, 1965 was introduced to provide for the payment of bonus to individuals employed in specific establishments................................ The objective of this Act is to maintain peace and harmony.....
Q. Explain the Concept of job-evaluation. Describe the methods and systems of job-evaluation that have been followed in an organisation you are familiar with. Discuss the advantages and disadvantages of them.
Answer. Job evaluation is the term for an organized ranking of jobs, with regards to other jobs......... The job description is the basis for a job evaluation.......
Despite the fact that job evaluation techniques do not directly establish rates of pay......
Q. Explain what is Performance Linked Reward System? Describe various steps involved in designing a Performance Linked Reward System. Examine the current issues and trends in linking performance with reward system of any organisation you are familiar with.
Answer. Performance Linked Reward System is a universal term for reward systems where payments are made based on the...... Pay systems give the foundation for financial reward systems. There are systems related in whole or part.......
Employees observe clear connection between their performance level and rewards......