Amity MBA HR 4th Sem Assignment For Compensation & Reward Management

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Compensation & Reward Management

Assignment A

1.         What is the importance of job analysis in compensation management? Describe various methods of Job analysis.          

2.         " The wage boards have a long history in the Indian Industrial relations system " Discuss its objectives, structure and functions.         

3.         What is the major purpose of Equal pay Act and what does require of organisation?

4.         What is job evaluatrion? Explain process of job evaluation. 

5.         Explain the fixation and revision of wages as per Minimum Wage Act, 1948.        

6.         Explain the determination of bonus payment as per Bonus Act, 1965.        

7.         Discuss the New Approach of VRS. 

8.         Write short notes on five:

(a) Rewards

(b) Fair wages

(c) Job description

(d) Living wages

(e) Gain sharing

 

Assignment B

Case Detail: 

The 1990's were a watershed for for the Indian banking industry, and particularly for nationalised banks hitherto have monopoly in the industry. Following the deregulation of the financial sector, Corp bank has faced increased competition  from other financial institutions like Can find Homes Ltd, LIC Housing Corporation and foreign private banks. These specialised financial institutions were giving a tough competition to Corp Bank resulting an intense squeez on profit margins and the need to make considerable efforts to to retain its clientele. Under such pressure, Corp bank introduced new technology, new financial products and new reward system for bank managers and staff. Information and communication technologies( ICTs) enabled the bank to process much larger volume of business and just importantly, the new ICTs themselves faciliated the development of new, and technically based product and services ( such as home banking, smart cards and  debt cards )which Corp Bank started to market to its customers. Running parallel with these technical changes was the dismantling of the patternalistic human resource management system.  In essence, Corp Bank's bureacatic culture and its associated belief system for managers and staff of appropriate behaviour being rewarded by steady promotion through the rank swept aside. The new culture ion the fast changing environment, emphasised customer service and the importance of measuring and rewarding staff according to their performance. The new performance related reward system was introduced at the board meeting hewld in June 2002. Mr N.K. Singh, Chairman and managing Director of the banksaid that the proposed reward system would be a key strategy to ' maintain our reputation and market share'. He outlined that in future, the salary of bank managers would be tied to their leadership skills and quality of customer services. Accordingly, the reward system would link manager's salary to behaviour traits that relate to leadersship and customer service.  The variable pay for both managers and staff would be based on what is accomplished because customer service is central to Corp bank's strategic plan, a three category rating system that involves' not meeting' customer expectations, ' meeting' them or 'far exceeding' them, is the essence of the reward system.

 

Question

1.         What types of problems were being facedby Corp Bank?

 

 2.        Outline the merits and limitations of Corp Bank's proposed award system for the managers and staff.

 

3.         Develop an alternative reward system for Corp Bank's employees and explain why it is superior to the proposed reward system.

 

Assignment C

 

Question No.  1           Marks - 10

Monetary Compensation can be ______________benefits.  

 

Options          

1. monetary        
2. non-monetary 
3. monetary and non-monetary  
4. none of these

 

Question No.  2           Marks - 10

Wages represent___________ rates of pay.  

 

Options          

1. daily   
2. hourly 
3. weekly
4. monthly

 

Question No.  3           Marks - 10

Which are also called payments by results.    

 

Options          

1. allowances      
2. claims 
3. incentives       
4. fringe benefits

 

Question No.  4           Marks - 10

Incentives depends upon       

 

Options          

1. productivity   
2. sales    
3. profit  
4. all of these

 

Question No.  5           Marks - 10

Which is perquisites out of following?          

 

Options          

1. club member ship       
2. provident fund           
3. medical allowance      
4. group insurance

 

Question No.  6           Marks - 10

The following is paid only at the time of employees exit after serving more than 5 years.   

 

Options          

1. Perquisites      
2. claims 
3. gratuity           
4. allowances

 

Question No.  7           Marks - 10

A behaviour which has rewarding experience is likely to be repeated is postulated by        

 

Options          

1. Equity theory 
2. Agency theory
3. Reinforcement and expectancy theory          
4. none of these

 

Question No.  8           Marks - 10

A fair day work for fair day pay'denotes a sense of______ felt by employees.       

 

Options          

1. responsibility  
2. equity 
3. happiness        
4. respect

 

Question No.  9           Marks - 10

The remuneration system needs to meet the following types of equity.       

 

Options          

1. Internal           
2. External          
3. individual       
4. All of these

 

Question No.  10         Marks - 10

Which of the following factor(s) influences employees compensation?       

 

Options          

1. Labour market
2. cost of leaving
3. labour unions  
4. All of these

Question No.  11         Marks - 10

The following is not the part of remuneration model.           

 

Options          

1. job description
2. job evaluation 
3. job analysis     
4. job hierarchy

 

Question No.  12         Marks - 10

The organised industrial establishments pay review take place once in ___________.        

 

Options          

1. Ten years        
2. five years        
3. three years      
4. fifteen years

 

Question No.  13         Marks - 10

Equal remuneration Act 1976, prohibts discrimination in  matters, relating to remuneration on the basis of           

 

Options          

1. religion           
2. region 
3. sex      
4. all of these

 

Question No.  14         Marks - 10

Which of the following is not a concept of wages.   

 

Options          

1. Fair wages      
2. minimum wages         
3. daily wages    
4. living wages

 

Question No.  15         Marks - 10

Which of the following can be fixed by comparison withan accepted standard wages.      

 

Options          

1. minimum wages         
2. fair wages       
3. living wages   
4. all of these

 

Question No.  16         Marks - 10

A____________ must be fixed considering the general  economy of the country.  

 

Options          

1. Minimum wages         
2. fair wages       
3. living wages   
4. all of these

 

Question No.  17         Marks - 10

Providing equal pay for jobs of equal nature based on job evaluation ensures___________ in compensation administration.           

 

Options          

1. external equity
2. internal equity
3. neutrality        
4. none of these

 

Question No.  18         Marks - 10

In India,  ______________ wage is determined mainly for sweated industries.      

 

Options          

1. Fair wages      
2. minimum wages         
3. living wages   
4. standard

 

 

Question No.  19         Marks - 10

Payment for cash rewards for the work extracted from the employee is normally called     

 

Options          

1. direct compensation   
2. indirect compensation
3. non- monetary compensation 
4. none of these

 

Question No.  20         Marks - 10

Which of the following is the fixed component in compensation package? 

 

Options          

1. Profit sharing 
2. gain sharing    
3. base sharing    
4. equity stock option

 

Question No.  21         Marks - 10

Insurance schemes, retire benefits and leave travel concessions are example of       

 

Options          

1. Indirect monetary compensation       
2. direct monetary compensation           
3. non- monetary compensation 
4. none of these

 

Question No.  22         Marks - 10

Managers never own complete responsibily for the all the decisions made by them since they are not the owners of the busness is the assumption of the         

 

Options          

1. Equity theory 
2. expectancy theory      
3. agency theory 
4. contigency theory      

 

 

Question No.  23         Marks - 10

Wages which are usually positioned about the minimum wages but below the  living wages are described as           

 

Options          

1. real wages      
2. fair wages       
3. minimum wages         
4. living wages

 

Question No.  24         Marks - 10

Wages usually adjusted for the prevailing rates of inflamation is called       

 

Options          

1. real wages      
2. minimum wages         
3. fair wages       
4. living wages

 

Question No.  25         Marks - 10

When there are several pay grades in a pay structure, it is called      

 

Options          

1. broad graded structure           
2. traditional pay structure         
3. job family structure    
4. none of these

 

Question No.  26         Marks - 10

Provisions of cars, parking lots, and membership in country club  are examples of  

 

Options          

1. base salary of executives        
2. short term incentives plans     
3. perks for executives   
4. all of these

 

Question No.  27         Marks - 10

Stock option and performance shares are examples of          

 

Options          

1. base  salary     
2. short term incentive plan        
3. long term incentive plan         
4. all of these

 

Question No.  28         Marks - 10

Performance based annual bonuses are examples of 

 

Options          

1. base plan        
2. short term incentive plan        
3. long term incentive plan         
4. all of these

 

Question No.  29         Marks - 10

Direct compensation includes which of the following          

 

Options          

1. flexible benefits         
2. long term incentive pay          
3. workers compensation
4. unpaid leaves

 

Question No.  30         Marks - 10

Indirect compensation is represented by which of the following      

 

Options          

1. social security benefits           
2. short term incentive pay         
3. differential pay          
4. merit pay        

 

Question No.  31         Marks - 10

Which of the following is not one of the main three factors of the HEY system?   

 

Options          

1. experience      
2. know how      
3. problem solving          
4. accountability

 

Question No.  32         Marks - 10

Which of the following  is funding feature of a health plan?

 

Options          

1. HMO  coverage         
2. PPO coverage
3. self insurance 
4. office visits    

 

Question No.  33         Marks - 10

Which of the following is a legally mandated benefit?         

 

Options          

1. Workers compensation           
2. social security 
3. unemployment compensation
4. all of these      

 

Question No.  34         Marks - 10

Which of the following Acts deals directly with descriminationin compensation?  

 

Options          

1. Comparable worth     
2. Equal pay Act
3. Davis Bacon Act        
4. Fair labour standards Act

 

Question No.  35         Marks - 10

Similarity in pay for jobs requiring comparable level of knowledge, skill and ability even where actual job duties differ significantly is the        

 

Options          

1. equal pay        
2. pay equity      
3. pay check fairness Act           
4. none of these

 

Question No.  36         Marks - 10

An incumbent who is paid below the range set of job          

 

Options          

1. red circle employee    
2. blue circled employee
3. green circled employee          
4. none of these

 

Question No.  37         Marks - 10

Variable pay is also known as

 

Options          

1. performance pay        
2. incentives       
3. group pay       
4. group performance pay

 

Question No.  38         Marks - 10

Which of the following categories is not example of payment that is consistant from period to period despite the number of hours worked  

 

Options          

1. wages 
2. salary  
3. reward
4. incentives

 

Question No.  39         Marks - 10

Which of the following catories is not an example of an exempt classification?      

 

Options          

1. executives      
2. sales    
3. professional    
4. technical

 

Question No.  40         Marks - 10

The equal pay Act for equal work of same skills, effort and responsibilities which of the following is not the exemption of the Act?           

 

Options          

1. seniority         
2. performance   
3. overtime         
4. geographic location

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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