Page 124 - DMGT106_MANAGING_HUMAN_ELEMENTS_AT_WORK

Managing Human Element at Work Pretty Bhalla, Lovely Professional University

Notes

Unit 6: Compensation and Rewards

CONTENTS
Objectives
Introduction

6.1 Job Evaluation
6.1.1 Definition of Job Evaluation
6.1.2 Objectives of Job Evaluation

6.1.3 Principles of Job Evaluation Programmes
6.1.4 Advantages of Job Evaluation
6.1.5 Limitations of Job Evaluation

6.1.6 Methods of Job Evaluation
6.1.7 Essentials for Success of Job Evaluation Programmes
6.2 Wage and Salary Administration
6.2.1 Wage Structure

6.2.2 Determining a Wage Structure
6.2.3 Equity in Compensation
6.2.4 Methods of Wage Payment

6.2.5 Incentive Wage Plans
6.2.6 Broad Categories of Wage Incentive Schemes
6.2.7 Requisites for the Success of an Incentive Plan
6.2.8 Fringe Benefits

6.2.9 Concept of Variable Compensation
6.3 National Wage Policy

6.3.1 Objectives of National Wage Policy
6.3.2 Regulations Adopted
6.3.3 Wage Policy in a Developing Economy
6.3.4 Principal Constituents of a National Wage Policy

6.3.5 Failure of the National Wage Policy
6.4 Summary
6.5 Keywords

6.6 Review Questions
6.7 Further Readings

118 LOVELY PROFESSIONAL UNIVERSITY