MBA Compensations & Benefits Pdf Notes – CB Notes | Free Lecture Notes download

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Here you can download the free lecture Notes of MBA Compensations & Benefits Pdf Notes – CB Notes materials with multiple file links to download. MBA Compensations & Benefits pdf book starts with the topics covering Definition of Compensation, Definition of Internal Alignment, Job Analysis Data Collection Process, Determining External Competitiveness and Benefits Management, Performance Based Compensation System: Employee Contributions, Legal & Administrative Issues in Compensation, Global Compensation Recognizing Variations, etc.

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Compensations & Benefits pdf notes – CB Notes of Total Modules

Please find the download links of Compensations & Benefits Notes pdf | CB Notes are listed below:

Unit 1

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Unit 2

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Unit 3

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Unit 4

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Unit 5

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Unit 6

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Unit 7

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Complete Notes

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Compensations & Benefits pdf book module details

Module – 1

Introduction To Compensation:Definition of Compensation, The Pay Model, Strategic Pay Policies, Strategic Perspectives of Pay, Strategic Pay Decisions, Best Practices vs. Best Fit Options.

Module – 2

Defining Internal Alignment:Definition of Internal Alignment, Internal Pay Structures, Strategic Choices In Internal Alignment Design, Which Internal Structure Fits Best?

Module – 3

Job Analysis and Evaluation:Why Perform Job Analysis?, Job Analysis Procedures, Job Analysis Data Collection Process, Job Descriptions, Definition of Job Evaluation, Major Decisions In Job Evaluation, Job Evaluation Methods, Final Result – Pay Structure.

Module – 4

Determining External Competitiveness and Benefits Management: Competitiveness: Definition of Competitiveness, Pay Policy Alternatives, Wage Surveys, Interpreting Survey Results, Pay Policy Line, Pay Grades.
Benefits:Benefits Determination Process, Value of Benefits, Legally Required Benefits, Retirement, Medical, & Other Benefits.

Module – 5

Performance Based Compensation System: Employee Contributions: Pay For Performance (PFP): Rewarding Desired Behaviors, Does Compensation Motivate Performance?, Designing PFP Plans, Merit Pay/Variable Pay, Individual vs. Group Incentives, Long Term Incentives. Compensation of Special Groups: Who are Special Groups?, Compensation Strategies For Special Groups.

Module – 6

Legal & Administrative Issues in Compensation: Legal Issues, Pay Discrimination, Comparable Worth, Budgets and Administration.

Module – 7

Global Compensation: Recognizing Variations, Social Contract, Culture & Pay, Strategic Choices In Global Compensation, Comparing Systems, Expatriate Pay.

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Frequently Asked Questions:

Q1: What is compensation?

A1: Compensation which can also be called as ‘pay’ refers to all forms of tangible services, financial returns and benefits that each employees receive as part of an employment relationship. It is also known as Total Rewards. It can also be defined as an rewards earned by an employee in return for their work.

Q2: What are the different types of compensation?

A2: Different types of compensation are,

1. Direct financial compensation which consists of pay received in the form of salaries, wages, bonuses and commissions provided at consistent and regular intervals

2. Indirect financial compensation includes all financial rewards which are not included in above mentioned direct financial compensation. It is understood to be the social contract between the employer and employee such as leaves, benefits, education, employee services and retirement plans

3. Non-financial compensation refers to topics such as advancement opportunities, opportunities for recognition, and career development as well as work environment and conditions.

Q3: What is a pay model and its components?

A3: Compensation model which is also called pay model differs from industries to organisations. Every organisation or industries has their own compensation model which is based mainly on three different components. The three basic components of compensation model are,

1. Compensation Strategies

2. Compensation motives

3. Compensation Techniques

Q4: What are Compensation Motives?

A4: Mostly Compensation or pay systems are formalized and programmed to attain organization motives as well as common motives. Because of these common motives, there is a lead growth of company objectives. The basic

objectives of compensation motives are:-

• Compliance with laws and regulations

• Efficiency in performance

• Equity in pay system

Q5: What are Pay techniques?

A5: Pay Techniques are used to devise new methods in the payment structure within the organization. Technique is basically formalized and ties with the four major policies to pay objectives. The sequence of techniques is used to analysis various kinds of proper sequence techniques. Very first technique is of internal alignment. This is based upon and give detail analysis about status of work accomplished and amount of work need to be accomplished. Secondly, all the necessary information about the employee and their job profile is collected. The collected information is then organized and evaluated. A work structure is designed based upon these evaluations. Considering all these, a pay technique is established.

Q6: What are the pay system objectives?

A6: Pay system objectives include the following

– A pay system must attract the employees which helps in retaining them

– It should keep the employees motivated for better performance

– A pay system must promote knowledge and skill development of an employee

– It should shape organisations corporate culture as well as reinforce and define the structure

– Finally, a pay system must determine the pay costs

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