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June 2022 Examination
Q1. Mr. Suresh Deshpande is the M.D of "Rashmi Electricals
Pvt Ltd" which manufactures various electrical components for the auto
industry. It is a mid-sized company, (set-up in the '90s) employing about 200
people and its products are well known for its quality. Up to 2019, this
company was making good profits and therefore it could pay its employees well
above the market average. A major component of this pay package was the
benefits (like reimbursing school fees for employees' children, free lunch,
free transport) which attracted many talented workmen to the factory. However,
after 2019, the profits started dwindling mainly because of competition,
increased imports from China, and the Corona pandemic. So, a few days ago Mr.
Deshpande called Mr. Roberts, his HR Manager to stop all the different "benefits"
given to the employees as these were adding to the costs in a big way.
From a Compensation point of view, explain how Mr Roberts should
prepare adequate logic to convince Mr. Suresh regarding which benefits to
retain or discard (10 Marks)
ANS:
Introduction
When
a company can pay its employees wages and perks, they're talking about
compensation/profits and additional economic and non-monetary incentives. In
the workplace, it encourages people to be their first-rate selves by profitable
them primarily based on their performance and sports. An employee's repayment
and advantages are known as repayment and benefits. They consist of bonuses,
vacation time, coverage, and more. Pay and worker benefits are an enterprise's
repayment for the services it gives to its employees. Placing incentives assist
pressure staff to work more challenging and quicker, which boosts
productiveness. Compensation and benefits are a vital part of human aid control
to hold the workforce running. Due to these incentives, the labor is forced to
work harder. It aids the employer in profitable its employees based on their
Q2. Ramani and Kumkum are both Ph. Ds in Chemical Engineering and
both have put in more than 15 years in the Pharmaceutical industry. They
decided to leave their jobs and open a small company of their own. Accordingly,
they took a bank loan and using their contacts, tied up with another big pharma
company to research on their behalf. Initially, they recruited five qualified
chemists, and later as the business grew they recruited more laboratory staff,
accountants, and other personnel. Since it was a start-up, and the objective
was to survive, they tried to get good quality people and so paid them better
than what they were earlier getting. Their business grew and by the end of five
years, they were well established, and by that time they had eighteen people on
their rolls. The break-up of their staff strength was as follows: - Three
Senior Researchers (all Ph. Ds), five Research Associates (Post Graduates in
Chemistry), five Assistants (Science Graduates), three Accountants, and two
Clerks. However, as there was no regular pay structure, there was a wide
disparity in the pay drawn by different employees.
To rectify this
situation, both Ramani and Kumkum decided to conduct a Job Evaluation study. In
your opinion, which Job Evaluation method would be most suitable in this case.
(10 Marks)
ANS:
Introduction
In
an organization, process assessment refers to a systematic process of
establishing the relative cost or worth of specific activity in contrast to
other occupations. one of its essential dreams is to assemble a proper
compensation shape by systematically comparing the relative merit of different
occupations. This was having a look, and assessment is generally done. In
contrast, a completely new function has been formed in an organization, and it
ought to be completed as often as feasible to cope with the troubles mentioned
above. Many criteria are considered while determining an activity's
categorization in an organization. The selection-making power, scope and
variety of responsibilities, the
Q3. Mukesh Sharma is
residing in the suburbs of Mumbai and has obtained a Diploma in Mechanical
Engineering from a reputable Polytechnic in 2021. Since he was among the top
five students in the Final Year, he got two job offers in the Campus Placement
procedure.
The details of these
offers are given below: -
a) "Karuna
Auto-Parts Private Limited" is a medium-sized firm manufacturing auto
parts, employing about 400 workmen and managerial staff and its products are
well known for their quality as they employ the latest state-of-the-art
machines. The factory works three shifts per day and he has been placed in the
Maintenance department as a "Trainee". The factory has a good canteen
and also has a night restroom for people completing the B shift (2 pm to 10
pm).
During probation of 1
year, he will be paid a Consolidated stipend of Rs 25000/-and will be required
to work in the morning shift. After confirmation, he will be placed on the
Junior Engineer scale and his total earnings are expected to be around Rs
40,000/- but he will be expected to work in all three shifts. This factory is a
little far from his home (about 40 km) but is accessible by rail and the
company arranges for pick-up from the nearest railhead.
b) "Jayant Forging
Private Ltd" is comparatively smaller than the other company and employs
about 250 people including workmen and managerial personnel all working in the
General shift. This factory is not far from his residence but not situated near
any regular rail or road routes. It is a forging unit, established about thirty
years ago and has not upgraded its old machinery. The company is a sort of
captive plant of one of the large commercial vehicle manufacturers, Beta Motors
and it manufactures the forged "front axle beam" for their trucks for
their factory at Pune. Thus it is dependent on Beta Motors for orders and
sometimes payments are delayed and the company has to resort to bank overdrafts
to pay employees' salaries. Mukesh has been offered the position of "Jr
Engineer" at a consolidated stipend of Rs 30,000/ pm during the 1yr
probation period and will be posted at the factory to learn about the
production process. After confirmation, he is expected to assist the Quality
Team, regarding quality issues and also travels to the Beta Motors Factory (as
required), to settle quality and other issues. The company has assured him of a
good career in the management cadre in about five years. With allowances, he is
expected to draw around Rs 45,000 after confirmation.
a. What are the
different factors (give at least seven) that Mukesh can use to compare the
compensation and other benefits included in the two offers that he has
received? (5 Marks)
ANS:
Introduction
Compensation
disputes also are common among employers and their workers. Employees offer
their time, strength, information, and know-how to the company in change for
pay and benefits. To reveal their appreciation, the company compensates
personnel for their loyalty. Similarly, a few additional factors, both inner
and external, impact compensation.
Discussion
1. Years of experience and
schooling level
The
more money they may count on making,
b. After careful consideration,
Mukesh chooses to work in the 1st company i.e “Karuna Autoparts”. Give your
comments whether you agree with his decision. (5 Marks)
ANS:
Introduction
Using
the most up-to-date cutting-edge machinery, Karuna
auto-parts non-public limited, a medium-sized automobile elements production company,
employs roughly 400 workers and managers. Since the plant is open for three
shifts each day, his function as a "Trainee" within the maintenance
branch is good for him. A wonderful canteen and a restroom for folks who work
night shifts are to be had on the facility.
Discussion
A consolidated stipend of Rs 25000/- would be granted to him
throughout his yr of probation, and he will be obliged to work the morning
shift. However, he will be required to perform all three shifts after being
shown. His total salary is likely to be roughly Rs 40,000/-. Even though it's
40 kilometers far from his residence,
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