Preview | What this Course Aims to Deliver

Subject Code: MBA21-SEM3-CB3 Subject Name: Compensation and

Benefits
Session: 2021-2023 Group Name: HRM

Course Learning Outcomes |What the students will be able to do after

this course

CLO’s Long form Short form

Outline the compensation strategies of an
CLO 1 Compensation Strategies
organization
Create and develop proper salary slips and various
CLO 2 Development of payroll
invoices
Describe the applicability of various legislations to a
CLO 3 Applicability of Laws
variety of real-world organizations
Design a leave management system and attendance Leaves and Attendance
CLO 4
trackers Trackers
CLO 5 Discuss trends in International compensation International Compensation

Course Summary | Compensation and Benefits | Key Themes

1. Compensation and Benefits

2. Payroll Management
3. Laws relating to Labor
4. Leave Management systems
5. International Compensation

Course Objectives

1. Explain the compensation strategies in an organization

2. Define the creation and development of payroll components
3. Understand the laws applied in organizations
4. Understand leave and attendance management
5. Define the current trends in international compensation
Behavior Outcomes

FUNCTION ATTRIBUTES
enable students to focus Deep thinking
cultivate self awareness Self-knowledge
build interdisciplinary thinking Holistic learning
develop people skills Communication
build ‘doers’ Problem-solving

Pedagogy

Teaching Methodology Duration (approx.)

Faculty-led Instruction 800 minutes
Activities 500 minutes
Case studies
Videos-led Discussions*
Workplace skills *
Worksheets*
Quiz 300 minutes
Assessments 15 minutes
Instruction Time: 800 minutes
Practice Time: 815 minutes
Evaluation Time: 200 minutes

* Not applicable in accordance with the subject

Legend for Training Plan Outline

Videos-led Discussions CAR

Case studies CAR
Activities CAR
Quizzes CAR
Worksheets CAR
Training Plan Outline

SESSION TRAINING PLAN OUTLINE DURATION

Pre-Assessment
15 minutes

Unit 1: Compensation and Benefits

Lecture 1:
90 minutes
● Define compensation and benefits
Instruction:
● Understand the importance of
40 minutes
Employee compensation and benefits
Compensation ● Understand the compensation philosophy
Practical:
● Recognize the link between compensation
40 minutes
Lecture 1 and benefits and employee motivation
Evaluation:
★ Quiz
10 minutes
★ Activity

Lecture 2: 90 minutes

● Types of compensation and benefits - Direct Instruction:

Types of
compensation, Indirect compensation 40 minutes
Compensation
● Incentives and Rewards
Practical:
Lecture 2
★ Quiz 40 minutes
★ Activity
Evaluation:
10 minutes

Lecture 3: 90 minutes

● Need for compensation strategy Instruction:

Compensation
● Various compensation strategy 40 minutes
Strategy
● identify the best Compensation Strategy for a
business Practical:
Lecture 3
40 minutes
★ Quiz
★ Activity Evaluation:
10 minutes
 Lecture 4: 90 minutes

Building a ● Goals of a Compensation Plan Instruction:

Compensation ● How to design a compensation package? 40 minutes
Package ● Internal and External Pay Factors
● Job Evaluation Systems Practical:
Lecture 4 40 minutes
★ Quiz
★ Activity Evaluation:
10 minutes

Lecture 5: 90 minutes

● Pay Systems Instruction:

Pay System and
● What are Pay Theories? 40 minutes
Theories
● Equity theory, reinforcement theory,
expectancy theory Practical:
Lecture 5
● Pay decision considerations 40 minutes

★ Quiz Evaluation:
★ Activity 10 minutes

Unit 2: Payroll Management

Lecture 6:
● What is CTC 90 minutes
● Gross Pay and Gross Salary
● Differentiate between Gross and Net Salary Instruction:
Designing CTC ● Process of CTC Designing 40 minutes
● CTC designing – example
Lecture 6 Practical:
★ Quiz 40 minutes
★ Activity
Evaluation:
10 minutes
 Lecture 7: 90 minutes

● What is payroll Instruction:

● Why is payroll important 40 minutes
Introduction to Payroll ● Terminologies used in payroll
● Various methods available to do payroll Practical:
Lecture 7 40 minutes
★ Quiz
★ Activity Evaluation:
10 minutes

Lecture 8:

● Input and output of payroll management 90 minutes

● What is monthly payroll processing
● What is Payslip Instruction:
Introduction to Payroll
● Importance of salary slip 40 minutes
Management
● Payslip structure
Practical:
Lecture 8
40 minutes

★ Quiz Evaluation:
★ Activity 10 minutes

Lecture 9: 90 minutes

● What is meant by statutory compliance Instruction:

● Statutory deductions and contributions ESI PF 40 minutes
Payroll and Statutory Professional Tax income Tax
● How to calculate tax for individual Practical:
Lecture 9
40 minutes
★ Quiz
★ Activity Evaluation:
10 minutes
Lecture 10:
90 minutes
● Stages of payroll processing
● Pre-payroll activities
Instruction:
Payroll and ● Actual payroll process (payroll calculation)
40 minutes
Processing ● Post-payroll process
● Softwares used in generating salary slip in
Practical:
Lecture 10 2022
40 minutes
★ Quiz
Evaluation:
★ Activity
10 minutes
 Unit 3: Laws relating to Labor

Lecture 11: 90 minutes

● Definition of labor laws
Instruction:
Labor Laws and ● Need of labor laws
40 minutes
their classification ● History of labor laws
● Principles of labor laws
Practical:
Lecture 11 ● Classification of labor laws
40 minutes
★ Quiz
Evaluation:
★ Activity
10 minutes

Lecture 12:
90 minutes
● Legal provisions governing HR policies
● Recruitment and Selection
Legal provisions Instruction:
● Employee appraisal
governing HR 40 minutes
● Compensation of rewarding
policies
● Healthy, Safety and Welfare measures
Practical:
● Maintaining Industrial relationships,
Lecture 12 40 minutes

Evaluation:
★ Quiz 10 minutes
★ Activity

Lecture 13: 90 minutes

● The applicability of various acts Instruction:

Applicability of ● Authorities under various labor laws 40 minutes
acts
Practical:
Lecture 13 40 minutes
★ Quiz
★ Activity Evaluation:
10 minutes
 Lecture 14:
90 minutes
● Statutory Compliance for Women & Social
Security Instruction:
Statutory
● What is Statutory Compliance and its 40 minutes
compliance for
importance
women and social
● Its presence in different organizations Practical:
security
● Advantages of Statutory Compliance 40 minutes
Lecture 14
Evaluation:
★ Quiz 10 minutes
★ Activity

Unit 4: Leave Management systems

Lecture 15:

● Attendance management 90 minutes

● Types of attendance management
● leave management Instruction:
Attendance and ● Employee Absenteeism and Workforce 40 minutes
Leave Management Productivity
● Various types of leaves Practical:
Lecture 15 ● Leave encashment 40 minutes
● Absence from work
Evaluation:
★ Quiz 10 minutes
★ Activity

Unit 5: International Compensation

Lecture 16:

● International Compensation 90 minutes

● Meaning
● Components for Expatriates salary Instruction:
International ● Hardship premium,COLA(cost of living 40 minutes
Compensation allowance)
● Tax Equalization payments Practical:
Lecture 16 40 minutes
★ Quiz
★ Activity Evaluation:
10 minutes
 Lecture 17: 90 minutes
Approaches to
international ● Approaches to International compensation Instruction:
compensation ● Going Rate approach 40 minutes
● Balance Sheet Approach
Lecture 17 ● Benefits of international compensation Practical:
40 minutes
★ Quiz
★ Activity Evaluation:
10 minutes

Lecture 18: 90 minutes

Factors affecting ● Factors affecting international compensation Instruction:

international ● Social contract,culture, trade union, 40 minutes
compensation ownership, capital markets and managers'
autonomy Practical:
Lecture 18 40 minutes
★ Quiz
★ Activity Evaluation:
10 minutes

90 minutes
Lecture 19:
Instruction:
Challenges in ● Challenges in international compensation
40 minutes
international
compensation ★ Quiz
Practical:
★ Activity
40 minutes
Lecture 19
Evaluation:
10 minutes

90 minutes
Lecture 20:
Instruction:
Trends in ● Current trends in compensation 40 minutes
Compensation
Practical:
Lecture 20 40 minutes
★ Quiz
★ Activity Evaluation:
10 minutes