Compensation Management 2e is an exhaustive textbook designed to cater to the syllabi requirements of management students. The text provides comprehensive coverage of all the basic aspects of compensation management. Furthermore, advance topics of compensation management such as difference between compensation and payroll management, pay grades and pay bands, labour welfare administration, compensation design, sample KRA and KPI, and compa-ratios have been included in the book.
The focus of this particular edition is on updating rules and regulations pertaining to compensation management and the inclusion of emerging areas such as PRP in PSEs, smart compensation practices for talent engagement, recent trends in team-based compensation, foreigners working in India and related statutory compliances, international compensation strategies, and cultural issues in international compensation. Apart from providing extensive coverage of the core concepts of the subject, it includes numerous solved examples to provide students with a practical orientation towards quantitative aspects of compensation management.
Contents: Preface to the second edition. Preface to the first edition. 1. Introduction to compensation management. 2. Compensation management: the Indian context. 3. Employee compensation and the labour market. 4. Economic theories and compensation management. 5. Employee benefits. 6. Employee motivation and compensation. 7. Compensation management and job design. 8. Compensation management and job evaluation. 9. Performance-related compensation. 10. Team-based compensation. 11. Executive compensation. 12. Sales compensation plan. 13. Managing rewards. 14. Legal and taxation issues on employee compensation. 15. Strategic compensation management. 16. Quantitative tools and innovation in compensation. 17. International compensation management. Index.
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