Compensation & Performance Management

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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