COMPENSATION AND WELFARE MANAGEMENT
Objective: to enlighten the students with the Concepts and Strategies of Compensation and Welfare Management.
Unit – I : Employee Compensation – Factors Influencing Compensation Plan and Policies –
Principles of Wage and Salary Administration – Wage as a Motivator – Methods of Wage Fixation – Factors Influencing Wage and Salary Determination.
Unit – II: Job Evaluation – Methods – Performance and Reward Systems – Methods of Wage Payment – Incentive Plans – Wage Differentials – Minimum Wages Act, 1948.
Unit – III : Employee Welfare – Concept, Scope and Significance – Welfare Policy and Five Year Plans – Role of Employee Welfare Agencies – State, Employers, Trade Unions and Voluntary Agencies.
Unit – IV: Employee Welfare Programmes – Statutory and Non-Statutory – Intra Moral, Extra Moral – Social Security – Social Assistance and Social Insurance.
Unit – V: Labour Welfare Administration – Plant Level, State and Central Levels – Labour Welfare Officer – Role, Status and Functions.
(Case Studies are Compulsory)
Suggested Books:
Barry Gerhart and Sara L. Rynes, Compensation, Sage Response Books.
Thomson, R and Mabey, C. Developing Human Resources, Oxford, Butterworth Heinemann.
Hendorson, Richard I. Compensation Management: Rewording Performance, Englewood Cliffs, PrenticeHall of India.
Michael Aqrmstrong, Employee Reward, Universities Press (India) Ltd.
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