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Master of Business Administration - MBA Semester 4
MU0015-Compensation and Benefits
(Book ID: B1859)
Assignment (60 Marks)
Note: Answer all questions must be written within 300 to 400 words each.
Each Question carries 10 marks 6 X 10=60.
Q1. Discuss the contents of Job evaluation. Describe the process of Job
evaluation.
Answer. Contents of Job Evaluation
The contents of job evaluation are as follows:
1. Job Analysis
It is a process through which required information about various aspects of jobs can be
obtained. Job analysis involves two dimensions:
i. Job description
Under job description, a profile of job information is prepared indicating the duties,
responsibilities and working condition of work. It explains about what the job entails.
ii. Job specification

Q2. Suppose you are a HR Manager and you are asked to develop an
effective Incentive Scheme for your organization. What are the prerequisites you will consider while developing an Effective Incentive Scheme?
Discuss the merits of Incentives.
Answer. Pre-requisites of Effective Incentive Schemes
You can conclude by now that for all firms a well-designed system of wage payment
can yield a number of advantages. But it is also true that to realize these advantages
there must be some safeguards known as pre-requistions of effective incentive plans.

These pre-requisites are as under:

Q3. Discuss the types of managerial remuneration. Explain the elements of a

managerial remuneration
Answer. Managerial remuneration is compensation for services provided to a
company in a managerial capacity. This can include cash payments, along with
benefits like stock options, health insurance, and bonuses. Managers are typically paid
more than the people they supervise, although they tend to make less than the
executives at the head of the company. Some pay structures are transparent, making
it easy to determine how much money managers make, while others may be
confidential.
Types of managerial remuneration

Q4. Define Pay Structure. What are its objectives? Explain the major
decisions involved in designing and setting competitive pay structures.
Answer. A pay structure is a collection of pay rates or pay ranges. Structure setting
and adjustment is the process of developing, adjusting, and maintaining a pay
structure.
Pay structures are used to help organizations:
Maintain pay levels that are competitive with the external labor market,
maintain internal pay relationships among jobs,
recognize and reward differences in level of responsibility, skill,
performance, and
Manage pay expenditures.

and

Q5. Explain the criterions considered for rewarding the employees for their
good service.
Answer. In a business world where fewer workers are doing more, employers have
"fallen way short of giving employees the recognition deserved and expected for a job
well done, Guld says. Providing that recognition requires developing award criteria.
Step 1
Form an award-program development committee to guide the creation of your
recognition initiative and its criteria. Formal, ongoing feedback from several
colleagues will help you adopt useful, fair criteria.
Q6. Write a short note on the following:

A) Wage Policy Plan in India

B) Voluntary Retirement Scheme (VRS)
(Wage Policy Plan in India, Voluntary Retirement scheme)
Answer. a) Wage Policy Plan in India
The term wage policy here refers to legislation or government action calculated to
affect the level or structure of wages or both, for the purpose of attaining specific
objectives of social and economic policy.
1. To eliminate malpractices in the payment of wages.
2. To set minimum wages for workers, whose bargaining position is weak due to the
fact that they are either un-organised or inefficiently organised? In other words, to
reduce wage differential between the organised and unorganised sectors.

Winter-2015
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each.
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09882243490