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CRM-H17
MBA (HRM) 2017-19 : Term-IV

Compensation & Reward Management

COURSE OUTLINE

Credits3
Faculty NameProf. D.K. Bhattacharyya
ProgramMBA (HRM) 2017-19
Academic Year and Term2018-19, Term-IV


1. Course Description
Compensation and Reward Management as a specialization subject for HR students is very significant, because of its strategic importance. Compensation as a cost to the organizations, whether manufacturing or services; has to be managed strategically, else organizations may loose the competitive advantages. Apart from its effect on bottom-line, strategic management of compensation and rewards help the organizations to retain talent, motivate employees, and gain their commitment and loyalty. Irrespective of the specialization, knowledge on compensation benefits the managers to effectively manage their profit/cost centres.

Keeping in view all these, this course has been designed to build capabilities of students to become an efficient compensation and reward management expert, so that they can provide strategic solution to the organizational issues pertaining to compensation.

2. Course Objectives:
Compensation and reward management, as a subject of study, has evolved considerably in recent years. In industry and in academia, this subject has received its renewed interest, particularly after global recession, when organizations have to rationalize their cost to sustain. On the one hand organizations faced the challenge of rationalizing the cost of compensation, and on the other organizations have the issues pertaining to employee retention and motivation. Keeping in view such criticality, this course has been designed to develop the knowledge of the students to understand the theories and the process of compensation design, aligning with the business goals and the strategies of the organizations. Students with input from the course would be able to understand the theories and conceptual issues in compensation design, and be able to design compensation. Executive compensation design, say on pay, sales compensation, performance related pay, international compensation design issues, etc. are now important areas of interest in compensation and reward management paper. All these are discussed with practical examples from the industry and case studies. With multiple compensation design exercises, students will develop also their professional competence.

3. Course Contents:
The course provides a thorough understanding of the major concepts of compensation and reward management. Discusses elaborately how compensation and rewards issues are aligned with the business goals and strategies of the organizations. Covers advance topics and focuses on quantitative aspects of compensation and rewards management. Introduces the new concepts on cost-to-company (CTC), `say on pay’, economic value added (EVA), performance related pay (PRP), executive compensation design, sales compensation design etc. The course is designed to develop students also as independent compensation and benefits professional, which is in much demand in consulting organizations.

4. Learning Objectives
After going through this course, students would be able to develop following skill-sets and knowledge base:
· Basic understanding of compensation and reward management issues
· Strategic understanding of compensation and reward management issues
· Effective compensation designing
· Using compensation management practices for talent acquisition, retention, employee motivation, loyalty and commitment.
· Understanding the international trend on compensation
· Understanding the research implications on compensation and reward management

5. Learning Outcomes
At the end of this course, students are expected to develop:
· Proficiency in compensation design
· Strategically align compensation with the business goals of the organizations
· Optimize the cost of compensation
· Rationalize compensation without ignoring the need for talent retention and motivation
· Design effective sales compensation to support the organizational growth
· Design rewards for increased level of employee engagement and motivation
· Introduce performance related pay systems in organizations

6. Required Text Books and Reading Material
Compensation Management, Dipak Kumar Bhattacharyya, Oxford University Press, New Delhi, 2nd edition, 2014.

Reference Text: Compensation, George T. Milkovich, McGraw-Hill

Supplemental reading materials, as may be required will be given time to time.

7. Tentative Session Plan

Session No.Topics / ActivitiesReading/Case list, etc.
1 and 2 Introduction to Compensation and Reward Management Chapters-1 and 2
3-continues-Chapters-3 and 4
4Employee Benefits and MotivationChapters 5 and 6
5th & 6th Compensation Management and Job Design, with exercise on position analysis and compensable factor determination for compensation design. There would be class assignment for evaluation. Chapters-7 and 8, and class assignment
7th and 8th Performance related compensation, with exercises, which would be part of evaluation Chapter-9 and PRP exercises
9Team Based CompensationChapter-10
Case Study Talent Management of Enlarge
10Executive CompensationChapter-11
Case Study Executive Compensation Strategy in Fortune Furnitech
11Executive Compensation design exercise, which will be part of class room evaluation
1st MCQMCQs will be on-line. Students are required to answer 30 questions in 20 minutes.
12Sales Compensation Plan with sales compensation design exercisesChapter-12
Case Study will be given in advance which students are required to read in advance for discussions in class.
13Managing RewardsChapter-13
14 and 15Legal and Taxation Issues on Compensation with exercisesChapter-14
Exercises will be separately given in the class
16Strategic Compensation ManagementChapter-15
Compensation Initiatives of NewAge Technologies
17Quantitative Tools and Innovation in CompensationChapter – 16
18International CompensationChapter-17
Case Study: Differential pay Policy of Nita International
Project AssignmentPart of evaluation
2nd MCQMCQs will be on-line. Students are required to answer 30 questions in 20 minutes.
19 and 20 Case discussions and Presentations by Students Case studies will be given to students in advance


5. Evaluation
· MCQs (two) 15
· Compensation Design Exercises 20
· Project Assignments 20
· Presentations 10
· End-term Examination 35

6. Academic Integrity

Students have to show highest level of academic integrity in writing their assignments, giving presentations, and answering to the exercises, including their end-term examination. Plagiarism, copying, etc, will be seriously viewed, and anybody found to be in this will be penalized, like; no grades, expulsion from the programme, repeating the programme, etc., depending on the nature of offense. Faculty will be available for on-line help also, as may be required by the students time to time. Personal meeting with the faculty, if required may be arranged with prior appointment.
Created By: Bijoy Kar on 03/07/2017 at 07:15 PM
Category: Course Outlines-HRM-II Doctype: Document

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