PGDM Core Subject
Compensation and Benefits
Course Objective
COMPENSATION AND BENEFIT MANAGEMENT Syllabus T30
| S.No | Contents | Course Outcomes (CO) | Learning Outcomes (LO) | Program Outcomes (PO) |
|---|---|---|---|---|
| 1 | Compensation, types of compensation | CO1: Explain the concepts and components of compensation. | LO1: Identify different types of compensation. | PO1, PO4 |
| 2-3 | Theories of Wages | CO2: Evaluate various wage theories and their application. | LO2: Apply wage theories in organizational contexts. | PO1, PO2 |
| 4 | Compensation- Base Pay, Individual vs Team Rewards | CO3: Compare individual and team reward systems. | LO3: Design reward strategies for different scenarios. | PO1, PO5 |
| 5 | Strategic Compensation Planning | CO4: Formulate a strategic compensation plan. | LO4: Align compensation with organizational goals. | PO1, PO2 |
| 6 | Source of Competitive Advantage | CO5: Analyze how compensation creates competitive advantage. | LO5: Apply compensation strategies for gaining market advantage. | PO1, PO4 |
| 7 | Case Study | CO6: Apply theoretical concepts to real-world scenarios. | LO6: Evaluate practical implications of compensation strategies. | PO2, PO4 |
| 8 | Development of a Base Pay System | CO7: Design an equitable base pay structure. | LO7: Conduct job evaluations to determine base pay. | PO1, PO2 |
| 9 | The Compensation Structure | CO8: Develop and interpret compensation structures. | LO8: Use wage and salary surveys for market benchmarking. | PO1, PO4 |
| 10 | Preparing Salary Matrix and Fixing Pay | CO9: Construct salary matrices considering regulatory frameworks. | LO9: Apply legal considerations in compensation decisions. | PO4, PO5 |
| 11 | Compensation as a Retention Strategy | CO10: Develop compensation plans for retention and motivation. | LO10: Analyze the impact of compensation on employee retention. | PO1, PO5 |
| 12 | Managing Employee Benefits | CO11: Evaluate various employee benefit programs. | LO11: Design effective benefit packages. | PO1, PO4 |
| 13 | Time–Off Benefits and Benefit Administration | CO12: Analyze benefit administration policies. | LO12: Develop time-off and discretionary benefit strategies. | PO1, PO4 |
| 14 | Case Study | CO13: Analyze compensation and benefits through case studies. | LO13: Propose practical solutions based on case analysis. | PO2, PO4 |
| 15 | Wage Determination | CO14: Explain methods of wage determination in India. | LO14: Apply wage determination principles to various sectors. | PO1, PO4 |
| 16 | Wage Administration in India | CO15: Assess the role of wage administration in employee satisfaction. | LO15: Evaluate different wage administration practices. | PO4, PO5 |
| 17 | Wage Boards | CO16: Examine the structure and function of wage boards. | LO16: Analyze the effectiveness of wage boards in wage fixation. | PO4, PO5 |
| 18 | Case Study | CO17: Apply wage and salary administration concepts. | LO17: Interpret wage data from case scenarios. | PO2, PO4 |
| 19 | Compensation Practices of Multinational Organizations | CO18: Compare compensation practices in multinational and global firms. | LO18: Develop compensation policies for multinational firms. | PO1, PO4 |
| 20 | Recent Trends | CO19: Analyze emerging trends in compensation and benefits. | LO19: Forecast future changes in compensation strategies. | PO2, PO7 |
References:
- Milkovich, G. T. & Newman, J. M. Compensation.
- Henderson, R. I. Compensation Management in a Knowledge-Based World.
- Armstrong, M. & Murlis, H. Reward Management: A Handbook of Remuneration Strategy and Practice.