Performance and Compensation Management
Subject Overview
The sixth HRM group elective, covering the performance management system and its processes, alternative performance assessment models, compensation and benefits management, and executive compensation and wage administration in India. A 4-credit elective theory paper.
Unit-wise Syllabus
4 units — click WhatsApp below to get the full notes for each
Unit 1: Performance management fundamentals
Performance management system, counseling, planning, appraisal, potential appraisal, problems and errors, monitoring and implementation, role of HR professionals, ethics in performance management
Unit 2: Alternative performance models
Performance management and strategic planning, Balanced Scorecard, EFQM model, Economic Value Added, building a high-performance culture, performance management and rewards
Unit 3: Compensation and benefits management
Job evaluation approach to compensation, bonuses, pay for performance, competency-based pay, equity-based rewards, team rewards, reward strategy and psychological contract, law relating to compensation, benefits administration and employee welfare
Unit 4: Executive compensation and wage administration
Components and pay structure in India, linking salary with potential and performance, wage incentive schemes, employee benefits and services, fringe benefits, recent trends in wages and salaries in Indian industries