Compensation –Job Evaluation: Identifying compensable factors, Establishing Pay rates, Competency based pay, Variable pay and Incentives, Benefits and Services. Employee Relations – Nature, Importance, Approaches, Role of Trade Unions- Grievances – Causes – Implications – Redressal methods-Ethics in HR. Emerging Trends in HR -Managing HR in Small and Medium Enterprises - Managing Employees in the Global Context – IT for HR, Employee Engagement Practices and Retention Management in companies, Role of HR in CSR
2. MODULE-III
Compensation –Job Evaluation:
Identifying compensable factors,
Establishing Pay rates, Competency based
pay, Variable pay and Incentives, Benefits
and Services. Employee Relations –
Nature, Importance, Approaches, Role of
Trade Unions- Grievances – Causes –
Implications – Redressal methods-Ethics in
HR. Emerging Trends in HR -Managing HR
in Small and Medium Enterprises -
Managing Employees in the Global Context
– IT for HR, Employee Engagement
Practices and Retention Management in
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3. JOB EVALUATION
A job evaluation is a systematic way of
determining the value/worth of a job in relation to
other jobs in an organization. It tries to make a
systematic comparison between jobs to assess
their relative worth for the purpose of establishing
a rational pay structure.
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4. FEATURES OF JOB EVALUATION
Tries to assess jobs ,not people
Standards are relative
Basis of job evaluation is job analysis
Carried on by groups not individuals
Degree of subjectivity always present
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5. METHODS OF JOB EVALUATION
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6. Compensation
Compensation is a systematic approach to
providing monetary value to employees in
exchange for work performed. Compensation may
achieve several purposes assisting in recruitment,
job performance, and job satisfaction.
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7. The components of a compensation system
include
Job Descriptions
Job Analysis
Job Evaluation
Pay Structures
Salary Surveys .
Policies and Regulations
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8. Different types of compensation include
Base Pay
Commissions
Overtime Pay
Bonuses, Profit Sharing, Merit Pay
Stock Options
Travel/Meal/Housing Allowance
Benefits including: dental, insurance, medical,
vacation, leaves, retirement, taxes.
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9. Rewards and incentives
Rewards and incentives in the workplace have
benefits for both employees and employers. When
recognized for stellar performance and
productivity, employees have increased morale,
job satisfaction and involvement in organizational
functions
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10. Monetary
Monetary incentives reward workers for
performance and productivity through money.
These incentives include employee stock options,
profit sharing plans, paid time off, bonuses and
cash awards. Additional monetary incentives
include annual or semi-annual bonuses, such as
mid-year and end-of-year rewards. These
incentives encourage friendly competition
between associates when linked to job
performance. Monetary rewards motivate
employees to produce optimally.
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11. Non-Monetary
Non-monetary incentives reward employee
performance through perks and opportunities. These
rewards include flexible work hours, training
opportunities and the ability to work independently.
The rewards and incentives are valuable to an
employee because they allow workers to learn new
skills and pursue advancement opportunities. For
example, a recent graduate may view an exemplary
training program within an organization as more
valuable than a higher base salary because he feels the
learning opportunity will benefit his career.
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16. LABOUR WELFARE
Labour Welfare includes various services, benefits
and facilities offered to employees by the
employer. The welfare amenities are extended in
addition to normal wages and other economic
rewards available to employees as per the legal
provisions.
Welfare measures may also be provided by the
government, trade unions and non-government
agencies in addition to the employer
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17. Need
Enables workers to have a richer and more satisfactory
life
Raises the standard of living of the workers
It will enhance their efficiency and productivity
Absorbs the shocks injected by industrialization and
urbanization
Promoting the sense of belonging among the
employees
Preventing the social evils like alcoholism, gambling
etc.
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18. Statutory and Non-Statutory
The Factories Act, 1948
The Platinum Labour Act, 1951
The mines Act, 1951
The Motor Transport Workers Act, 1961
The Contract Labour Act, 1970
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19. Industrial Relations Definitions
The collective relationships between management &
employees in an industrial organisation.
The relationship between employees & the management
in the day-to-day working of industry.
It is a complex of interrelations among workers,
management & Govt.
IR refers to a set of relations arising out of the employer–
employee relationship in the modern Industrial society
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20. Objectives
To maintain congenial relations between employees
& employer.
To promote & develop congenial labour management
relations.
To enhance economic status of workers by improving
wages and benefits.
To regulate production by minimising industrial
conflicts.
To provide opportunity to workers to have a say in
the management and decision making.
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21. Factors that influence IR
Institutional – Policy
Labour Legislation
Collective Agreement
Social Institutions
Economic Capitalist
Communist
Mixed
Technology Mechanisation
Automation
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22. Industrial Dispute
As per the Industrial Disputes Act 1947 Sec 2 (k),
“Industrial disputes mean any dispute or difference
between employers and employers or between
employers and workmen or between workmen and
workmen, which is connected with the
employment or non-employment or terms of
employment or with the conditions of labour of any
person.”
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23. Essentials of Disputes
1 The Dispute must affect a large group of workmen.
2 It should invariably be taken up by the industry union
or by an appreciable number of workmen.
3 There must be a concerted demand by the workers
for redress.
4 The parties to the dispute must have direct and
substantial interest in the dispute.
5 An indl workman to raise an ID with regard to
termination, dismissal or retrenchment of service.
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24. Causes of disputes
Psychological
Institutional
Economical
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25. Psychological
Clash of personality
Authoritative leadership
Self respect
Strict discipline
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26. Institutional
Non recognition of union
Collective bargaining
Unfair practices
Pressing not to become members
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27. Economical
Terms and conditions- hrs of work, Shift, lay off
Working conditions- Environment
Layout
Machinery
Product
Wages and other benefits- Inadequate
Poor fringe benefits
No bonus
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28. Settlement Machineries
Collective Bargaining
Trade unions
Joint Consultations: a) works committee b) Joint
Management Councils
Standing orders
Code of discipline
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29. Recent Trends in HRM
Globalization and its implications
Work-force Diversity
Corporate downsizing
Corporate downsizing
Continuous improvement programs
Re-engineering work processes for improved
productivity
Contingent workforce
Decentralized work sites
Employee involvement
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30. Future trends in HRM
Career starters outnumbered by new retirees
The war for talent goes global
Work-life balance is more important than status
The era of post-permanent employees is on the
horizon
Conflicts caused by constant availability
It supports cultural diversity
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31. Why SIHRM?
Competitive Analysis
Measure and reward managers for good people
management
Pay for performance
Post Mortems
Smoke detectors
Plans
Bad management Identification Programmes
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32. Strategic International HRM
Traditional hierarchical SIHRM Evolving network hierarchy SIHRM
Agency Stewardship
Control/monitoring Trust/commitment build
Information asymmetry Knowledge sharing
Unidirectionality Reciprocity
Structure-oriented Process-oriented
Behavioural consistency Cognitive reference
Fit Flexibility
Hierarchy Heterarchy
Oriented towards cost Oriented towards value
Formal rules Informal norms
HQ initiatives Subsidiary initiatives
Functionalism Cross-functionalism
Administrative spirit Entrepreneurial spirit
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