Compensation and Benefit Management (Sem 5, BBA Nagpur Univ)

We have great pleasure in presenting First edition “Compensation and Benefit Management” written for students of UG courses. The related matters are written in a simple and easily understandable.

This volume is an attempt to provide the students with thorough understanding of Compensation and Benefit Management. We have presented the subject matter in a systematic manner with liberal use of charts and diagrams where ever necessary so as to make it interesting and sustain students’ interest.

Contents –

Unit 1: Introduction to Compensation Management
Introduction, Conceptual, Theoretical Understanding of Economic Theory Related to Compensation Management (Wage Concepts and Wage Theories), Wage Plans, Employees Satisfaction, Motivation Issues in Compensation Design, Components of Compensation, Case Study.

Unit 2: Types of Wages and Incentives
Introduction, Types of Incentive Schemes, Wage Incentive Plans, Pre-requisites of Effective Incentive Schemes, Merits of Incentives, Demerits of Incentives, Pay for Performance Plans, Case Study.

Unit 3: Benefit Management
Introduction, Concept of Benefits, Nature of Benefits, Classification of Employee Benefits, Employee Benefit Programs, Long Term Incentive Plans, Strategic Perspectives on Benefits, Factors Influencing Choice of Benefit Program, Case Study.

Unit 4: Wage Determination and Wage Management
Introduction, Wage Concept, Wage Policy, Institutional Mechanisms for Wage Determination, Pay Commission, Wage Boards, Public Sector Pay Revision, ILO and Collective Bargaining, Union Role in Wage, Salary Administration, Case Study.