BA4019 Reward and Compensation Management Syllabus:

BA4019 Reward and Compensation Management Syllabus – Anna University PG Syllabus Regulation 2021

COURSE OBJECTIVES:

 To impart skills in designing analyzing and restructuring reward management systems, policies and strategies.
 To understand the various dimensions of Compensation Management.

UNIT I INTRODUCTION

Compensation – Definition – objectives- principles of compensation formulation- Compensation Design and strategy- theories of wage determination- Wage Structure -types of wages- wage boards- wage policy. Compensation decisions- compensation benchmarking- compensation trends and reward system in India.

UNIT II EMPLOYEE COMPENSATION AND LABOUR MARKET

Macroeconomics of Labour markets- Unemployment and its impact on labour market- Neoclassical microeconomics of labour markets-models, supply and demand-economic model Implications on employee compensation- economic theories and employee compensation- trade -offs – valuation of employee compensation.

UNIT III MANAGING EMPLOYEE BENEFITS AND REWARDS

Nature and types of employee benefits- statutory employee benefits in India- Deferred compensation plan- Non-monetary benefits. Reward – Meaning, Elements, Types- Basic concepts of reward management – Designing reward system- Approaches to reward system- Difference between reward and compensation.

UNIT IV PERFORMANCE RELATED COMPENSATION

Performance management system (PMS)-performance objectives – indicators- standards and metric – effective performance modeling-dimensions of performance- competency based pay. Team Compensation – Gain Sharing Incentive Plan – Enterprise Incentive Plan – Profit Sharing Plan- ESOPs

UNIT V EXECUTIVE AND SALES COMPENSATION PLAN

Executive Compensation – Components, Theories, Design- Relationship between Fixed and variable pay-Executive Incentive Programmes. Sale Compensation plan- design and administration- sales incentives and motivations. Compensation Management in Multi-National organisations.

TOTAL: 45 PERIODS

COURSE OUTCOMES:

The student gets to learn about
1. The basics of Compensation Management and Reward system, Theories and strategies
2. Macro and micro economics of labour market and employee compensation
3. Managing employee benefits and rewards
4. Performance related compensation
5. Executive and sales compensation plans, theories and design

REFERENCES:

1. Richard.I. Henderson: Compensation Management In A Knowledge Based World – Prentice Hall, 2007.
2. Richard Thrope& Gill Homen: Strategic Reward Systems- Prentice-Hall, 2000
3. Reward Management: A Handbook of salary administration by Armstrong, Michael and
4. Marlis, Kogan page business books, 2005
5. Thomas.P. Plannery, David.A. Hofrichter&Paul.E.Platten: People Performance & Pay – Free Press.
6. Michael Armstrong & Helen Murlis: Hand Book Of Reward Management – Crust Publishing House.
7. Joseph.J. Martocchio: Strategic Compensation – A Human Resource Management Approach – Prentice-Hall.
8. Edwarde.E.Lawler III: Rewarding Excellence (Pay Strategies for the New Economy) – Jossey-Bass.