Page 149 - DMGT106_MANAGING_HUMAN_ELEMENTS_AT_WORK

Unit 6: Compensation and Rewards

1. List down the principles of fringe benefits. Notes
2. Write the wage policy in a developing economy for an organization.

6.6 Review Questions

1. What is job evaluation? State its objectives.
2. Explain the advantages and disadvantages of a job evaluation programme.

3. Explain the various methods of a job evaluation programme.
4. What is the factor comparison system of job evaluation? What are its advantages?
5. What do you understand by wage incentives? Which of the two incentive schemes
would you recommend for industry?
6. What are the fundamental methods of compensating workers?
7. What are the features of time wage?
8. What are features of piece wage system?
9. What are the essentials of a sound wage incentive plan?

10. What are the broad categories of incentive schemes of wage payments?
Answers to Self Assessment

1. (b) 2. (a) 3. (d) 4. (d)
5. (c) 6. (a) 7. (b) 8. (a)
9. Minimum wages Act, 1948 10. Industrial Disputes Act, 1947
11. 1957 12. recommendations

6.7 Further Readings

Principles of Personnel Management, McGraw Hill Book Company, New York
(1980), by Flippo, Edwin B.
Management of Human Resources: Readings in Personnel Administration, McGraw
Hill Book Company, New York (1960), by Pigors, Paul and Charles A. Myres
and Maim.

www.preciousheart.net/chaplaincy/Auditor_Manual/6compen.pdf

LOVELY PROFESSIONAL UNIVERSITY 143