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1. Dear students get fully solved assignments
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ASSIGNMENT
DRIVE WINTER2016
PROGRAM MBA
SEMESTER 4
SUBJECT CODE & NAME MU0015- COMPENSATION AND BENEFITS
BK ID B1859
Credit & Marks 4 CREDIT, 60 MARKS
Note: Answer all questions. Kindly note that answers for 10 marks questions should be
approximately of 400 words. Each question is followed by evaluation scheme.
Question.1. Discuss the contents of Job Evaluation. Describe the
process of Job evaluation
Answer:Content of Job Evaluation
The contents of job evaluation are as follows:
 Job analysis: It is a process of examining the job content by breaking it down into its
functions, elements, tasks, operations and processes.
 Job description: It is a written and general
Question.2. Suppose you are a HR Manager and you are asked to
develop an effective IncentiveScheme for your organization. What
are the pre-requisites you will consider whiledeveloping an
Effective Incentive Scheme? Discuss the merits and demerits
ofIncentives
Answer:Merits of the Incentive System

2. Incentive system of wage distribution has
Question.3. Discuss the types of managerial remuneration. Explain
the elements of amanagerial remuneration
Answer:Managerial remuneration is compensation for services provided to a company in a
managerial capacity.Thiscan include cash payments, along with benefits like stock options, health
insurance,andbonuses.Managersare typicallypaidmore thanthe people theysupervise, although
they tend to make less than the executives at the head of the company. Some pay structures are
transparent, making it easy to determine how much money managers make, while others may be
confidential.
Question.4. Define Pay based Structure. What are its objectives?
Explain the major decisionsinvolved in designing and setting
competitive pay structures
Answer:A pay/salarystructure refers to the collection of salary grades, bands or levels, connection
of relatedjobswithinaseriesorhierarchywhichhelpsthe organisationinprovidingaframeworkfor
the implementationof variouspoliciesandrewardstrategieswithinthe organisation. Various salary
structures are connected with varying types of salary progression arrangements.
The Process of establishing pay structure consists of
Question.5. Explain the various criteria considered for rewarding
the employees for their goodservice
Answer:The criteria for rewarding the employees for their good service in the firm are as follows:
 Analyzingandsurveyingof staff:Conducting a survey is regarded as one of the most critical
challenge for the firms when it comes to motivate their employees. For this the firm must
deeplyunderstandtheiremployeesaswell astheir culture. Thus for this, they have created
“Culture Critique” by using the staff focus groups and also one-to-one interviews for both
current and existing employees.
Question.6. Write a short note on the following:
a) Wage Policy Plan in India
Answer:Main objectives of national wage policy in India are discussed below:
One of the objectivesof economicplanningisthe raisingof the standardof livingof the people. This
means that the benefits of planned economic development should be distributed among the
different sections of the society.

3. b)Voluntary Retirement Scheme(VRS)
Answer:Voluntaryretirement scheme is a method used by companies to reduce surplus staff. This
mode has come about in India as labour laws do not permit direct retrenchment of unionized
employees.
VRS applies to an employee who has completed 10 years of service or is above 40 years of age. It
should apply to all employees (by whatever name
Dear students get fully solved assignments
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