Compensation and Benefits- NMIMS Latest solved assignments

 

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Compensation and Benefits

April 2021 Examination

 

Ques 1. CONSTRUCTORS Pvt Ltd. is a newly set up construction company in Mumbai, and the company is in the process of determining the organization's pay structure. For this, it is required that the job analysis process is undertaken. As an HR Manager of the company, explain the process of job analysis that you will undertake. (10 Marks)

Ans 1.

 

Introduction

The process of job analysis is very crucialfor the HR manager of the organization. It is a systematic process of accumulating exact information about the duties and responsibilities of a specific job. The most interesting thing about the job analysis is that it does not concern the job holders but with the job. The information about the specific job title is acquired from the office-bearers. The job analysis process helps the organization's HR manager fix which employee is the best fit for a specific job. Besides, the HR

 

Ques 2. EASTEROES Pvt Ltd is a newly set up Online Education Technology Company. You are hired as an HR Consultant, and you are expected to identify and explain to the management different factors that influence the compensation strategies. Kindly explain these factors. (10 Marks)

Ans 2.

 

Introduction

The compensation strategies are one of the vital activities that an HR manager performs. The compensation is basically non-monetary and monetary rewards given to the employees for their contribution and performance for the organization's growth and development. The compensation basically comes in the form of wages and

 

 

Ques 3. INFOTICS is well-known IT Company in India since 2000. The company is planning to revise its compensation structure. In this background, answer the following:

3a. Explain the employer’s objectives behind establishing the pay structure. (5 Marks)

Ans 3a.

 

Introduction

The matter of compensation is of huge significance in the company’s policy. Every organization’s main aim is to revise the pay structure from time to time for retaining the best talents in their organization. Competitive compensation and recognition are the crucial factors behind the retention of the employee.The

 

 

 

3b. Explain the objectives that employees seek to achieve through compensation. (5 Marks)

Ans 3b.

 

Introduction

The compensation package is one of the crucial components that every employee looks at before joining any company. The compensation package is created to attract the best and skilled employees for the growth of the organization. On the other hand, the employees also want to value themselves to a greater extent. The pay

 

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