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Winter/ November 2012
Master of Business Administration- MBA Semester 4
MU0015 –Compensation Benefits – 4 Credits
(Book ID:B1336)
Assignment Set -1 (60 marks)
Note: Assignment Set -1 must be written within 6-8 pages. Answer all questions.
Q1.List the various elements of compensation. 10 marks(350-400 words)
Answer : The primary elements of a compensation package are:
I. Base Pay:
Base Pay is the fixed rate of compensation that an employee receives for performing the standard duties and assignments of a job. Employers need to ensure that base-pay programs are designed to reveal market practices within their identified competitor group. To achieve this organizations must first identify their competitive market. This can be achieved by considering different factors, including the nature of the industry, geographic
Q2.What is CTC? What are the components of CTC? 10 marks(350-400 words)
Answer : The phrase “Cost to Company” or CTC, as it is commonly known, means different figures to different people.
–For the Company, Cost to company is a term which essentially implies the amount of expenses the company will spend on an
Q3.Explain the link between employee satisfaction and compensation. 10 marks(350-400 words)
Answer : Linking employee satisfaction to compensation is being practised since long time in most of the organisations. Compensation designs based on this link usually measure performance from a relatively objective side, such as sales or revenues, stock price, productivity gains and so on. The example of this effort in recent times is embedded in labour contracts recently negotiated at United Airlines (UAL). The unions were able to
Q4.What are the major issues related to repatriation? 10 marks(350-400 words)
Answer : The term repatriation refers to bringing the employees who are on an international assignment back to the home country. It is very important to manage repatriation of employees in a very careful way. A poorly managed repatriation can lead to a feeling of frustration and cynicism in the employees. These feelings can be worse than the culture shock experienced in the first weeks of the assignment. It requires transparency
Q5.Write short notes on the following economic theories of wages:
a. Residual claimant theory
Answer : The residual-claimant theory holds that, after all other factors of production have received compensation for their contribution to the process, the amount of capital left over will go to the remaining factor. Smith implied such a theory for wages, since he said that rent would be deducted first and profits next. In 1875 Walker
b. Subsistence theory 5 +5 marks(150-200 words)
Answer : The subsistence theory of wages, advanced by David Ricardo and other classical economists, was based on the population theory of Thomas Malthus. It held that the market price of labour would always tend toward the minimum required for subsistence. If the supply of labour increased, wages would fall, eventually
Q6.Mr.Sarvesh is the HR Manager of First Source Pvt. Ltd. He found that many of the employees have been doing the same work for a long period of time. He decided to enrich some of their jobs. List some of the strategies which can be used by Mr. Menthol to enrich jobs in organisations.
10 marks(350-400 words)
Answer : Job enrichment is a way to motivate employees by giving them increased responsibility and variety in their jobs. Many employers traditionally believed that money was the only true motivating factor for employees and that if you wanted to get more work out of employees, offering them more money was the only way to do it. While that may be true for a small group of people, the majority of workers today like to work and to be
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