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COMPENSATION MANAGEMENT - EIILM University

COMPENSATION Subject: COMPENSATION MANAGEMENT Credit: 4 SYLLABUS Objectives of COMPENSATION Introduction to COMPENSATION and Rewards; Objective of COMPENSATION and Rewards; Introduction to Framework of COMPENSATION Policy; Labor market characteristics and pay relatives Wage Determination: Introduction to COMPENSATION , Rewards, Wage Levels and Wage Structures; Introduction to Wage Determination Process and Wage Administration rules; Introduction to Factors Influencing Wage and Salary Structure and Principles of Wage and Salaries Administration; Introduction to the Theory of Wages: Introduction to Minimum, Fair and Living Wage Wage Deferential Introduction to Minimum Wages; Introduction to Basic Kinds of Wage Plans; Introduction to Wage Differentials & Elements of a Good Wage Plans; Introduction to Institutional Mechanisms for Wage Determination Executive COMPENSATION Legalistic Framework for Wage Determination; Introduction to Importance of Wage Differentials; Introduction to Executive COMPENSATION and Components

Lesson No. Topic Page No. Concepts and Issues Lesson 1 Role of Compensation and Rewards in the Organization 1 Lesson 2 Objectives of Compensation and Rewards 5 Lesson 3 Frame work of compensation policy 9 Lesson 4 Labor Market Characteristics 13 Essential Elements Lesson 5 Compensation Structure and Differentials 16 Lesson 6 Wage Determination ...

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