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Syllabus - Compensation Management

This document outlines the course syllabus for Compensation Management at K L University Business School. The syllabus covers 5 units: 1) introduction to compensation theories and system design, 2) strategic compensation planning, 3) variable pay plans, 4) employee benefits, and 5) wage determination. It also lists recommended textbooks and reference books for learning support.

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Kavya sri nalamati
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255 views

Syllabus - Compensation Management

This document outlines the course syllabus for Compensation Management at K L University Business School. The syllabus covers 5 units: 1) introduction to compensation theories and system design, 2) strategic compensation planning, 3) variable pay plans, 4) employee benefits, and 5) wage determination. It also lists recommended textbooks and reference books for learning support.

Uploaded by

Kavya sri nalamati
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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K L UNIVERSITY BUSINESS SCHOOL

K L UNIVERSITY
II/II MBA – II SEMESTER
COMPENSATION MANAGEMENT (10MB62H4)

Course Syllabus:
Unit 1: Introduction Compensation, types of compensation, conceptual framework of
compensation management, Theories of wages: subsistence theory, wage fund theory,
marginal productivity theory, bargaining theory, criteria of wage fixation. Compensation
system design issues: Compensations Philosophies, compensation approaches, decision
about compensation, compensation- base to pay, individual Vs team rewards, Perceptions of
pay Fairness, legal constraints on pay systems.
Unit 2: Strategic Compensation Planning: Strategic perspectives towards
compensation – developing a total compensation strategy, Source of competitive advantage:
three tests, designing pay levels, mix and pay structures, Development of a Base Pay
System: Job evaluation systems, the compensation structure- Wage and salary surveys, the
wage curve, pay grades and rate ranges, preparing salary matrix, government regulation on
compensation, fixing pay, significant compensation issues, Compensation as a retention
strategy.
Unit 3: Variable Pay: Strategic reasons for incentive plans, administering incentive
plans, individual incentive plans – piece work, standard hour plan, bonuses, merit pay, group
incentive plans, team compensation, gain sharing incentive plans, enterprise incentive plans,
profit sharing plans, stock options, ESOPs. Executive compensation – elements of executive
compensation and its management, International compensation Management.
Unit 4: Managing Employee Benefits: Nature and types of benefits, employee benefits
programs- security benefits, retirement security benefits, health care benefits, time –off
benefits, benefits administrations, employee benefits required by law, discretionary major
employee benefits, employee services designing a benefits package.
Unit 5: Wage Determination: Principles of wage and salary administration, methods of
wage determination in India; internal and external equity in compensation systems, wage
administration in India: wage policy in India, wage boards: structure, scope and functions,
compensation practices in different industries, compensation practices of multinational and
global organizations.

1) Learning Support:
a. Recommended Text Books:
1. Milkovich & Newman, Compensation, TMH, 2008, 8th Edition

b. Reference Books:

1. Richard I. Henderson, Compensation Management in a Knowledge-Based World,


th
Pearson Education, 2009, 10 Edition.
2. B D Singh, Compensation And Reward Management, Excel Books, 2008
3. Tapomoy Deb, Compensation Management, Text and Cases, Excel Books, 2009, 1 st
Edition.

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