Inbuss Highlights

"My stint at Infinity has brought out various facets of my personality that were previously unknown to me. So, appears that I'm ripe for Citius, Altius, Fortius!!” - Suruchi Berry, Batch of 2007

Compensation & Performance Management

Contact Hours : 30 hrs
Credit : 1 Credit
Prerequisite : Human Resource Management
Instructor : Hari Parmeshwar

 

*AIM OF THE COURSE:

  • To develop an understanding of the complexities in deciding compensation of employees.
  • To understand the strategic importance of compensation as a management tool for organization performance.
  • To realize the dynamic nature of compensation as it tries to balance multiple objectives of equity and competitiveness.
  • To integrate Performance Management in work practices.

 

**INTENDED LEARNING OUTCOMES:

  • The student would be able to decide a compensation strategy for his company by collecting the relevant information from the market as well as employee expectations.
  • The student would be able to integrate compensation with other HR initiatives in line with the ever changing organizational realities.
  • The student would be able use Compensation as a tool for motivation / retention and team building.
  • Initiation of Performance Management in the organization.

 

TRANSFERABLE SKILLS AND OTHER ATTRIBUTES:

  • Benchmarking compensation for different categories of employees.
  • Understanding the link with motivation theories and depending on the industry and its position in the business cycle suitably modify compensation practices.
  • Broadbanding pay scales.
  • Link it with Performance Management.

 

 

*   Aims: why is the education provided
**Outcomes: Statements that predict what learners will have gained as a result of the learning; they should be linked directly to the  knowledge, understanding, skills, aptitudes and values that a student will have gained

 

LEARNING AND TEACHING STRATEGIES:

Case Studies. Theory explained through case discussions.  Handouts on important topics.  PP presentations to explain key concepts.

 

ASSESSMENT: (eg written/oral examination; coursework; project and weighting of each):

Examination:

 

Quiz

Mid Term

End Term

Written/Oral/

Practical

Written

 

Duration:

 

 

Weighting:

 

5 % quiz each class.( 5*10)

30 % end term

Timing:

 

After 10th session

end term

Coursework:

 

Yes

 

 

Type of assessed work required:

Project

No. required:

(termly etc)

 

End Term

Weighting:

 

20 %

Submission deadline(s):

 

Last session

Details of project

 

Type:

 

Compensation practices of an organization

No. & length

 

20 pages

Weighting

 

 

Submission deadline(s):

 

 

COURSE OUTLINE/SYLLABUS:

  • The role of compensation for business in a competitive environment.
  • The pay model which encompasses all dimensions in formulating a pay structure.
  • Internal Alignment
  • Job Evaluation
  • Competency based pay
  • External Competitiveness
    • ·Benchmarking for market survey
    • Data analysis and market line and broadband pay structures
    • Motivation theories
    • Performance Management
    • Pay Level and Pay Mix
    • Individual Incentives
    • Group Incentives
    • Benefits.

 

Key Texts and/or other learning materials:

  • Pay surveys published.
  • Fortune 100 best employers surveys.
  • Compensation Management by Milkovich and Newman.

 

 
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