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Full Description
Compensation Management presents a comprehensive account of the intricacies related to compensation and reward management in Indian organizations—a vital strategic feature of HR management. The book covers fundamental concepts of the subject along with the approaches, tools, techniques and allied issues. Starting with conceptual framework, it discusses wage determination and wage fixation practices in India, salary reviews and reward management policies, and processes and procedures, in addition to international remuneration with special reference to expatriates and the remuneration of third country nationals. It blends theoretical concepts with real-life practices followed in the corporate sector, with a focus on Indian organizations. This book would be helpful to students of human resource management, business economics, public administration, social work and other allied fields.
Key Features:
• Covers the role of art and science of compensation management in raising the competitive edge of organizations
• Focuses on recent policy developments, contemporary industry-wide changes and probable strategies for issues discussed
• Key pedagogical features, including contemporary case studies and activities
Contents
Preface
Acknowledgements
Conceptual Framework
Compensation Management
Divergent Systems and Institutions for Wage Determination in Practice in Indian Organizations
Contingent Pay: Pay for Performance, Competence, Skill—I
Contingent Pay: Pay for Performance, Competence, Skill—II
Administering and Controlling Salary Costs and Salary Review
Designing and Operating Fringe Benefits and Services, and Internal Audit of Compensation and Benefits
Designing and Operating Non-financial Benefits (Intrinsic and Relational Rewards)
Compensation and Reward Management Policy, Processes, Procedures and Some Other Issues
International Remuneration
Index
