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Human resource management Specialisation Essay

Concept of compensation-Exploring and defining the compensation context–System of compensating–compensation dimensions-concept of reward–Role of compensation in Organization- Non-financial compensation system–Concept of total reward system-New trends in compensation management–The 3-P compensation concept.

Compensation and Employee Behaviour:

Bases For Traditional Pay System and Modern Pay System–Establishing Pay Plans–Aligning Compensation Strategy with HR Strategy and Business Strategy-Seniority and Longevity pay- Linking Merit Pay with Competitive Strategy-Incentive Pay-Person focus to Pay–Team Based Pay.

Designing Compensation System:

Building internally consistent Compensation System-Creating Internal Equity through Job Analysis and Job Valuation-Building Market Competitive Compensation System-Compensation Surveys– Integrating Internal Job Structure with External Market Pay Rates-Building Pay Structures that Recognize Individual Contributions-Constructing a Pay Structure-Designing Pay for Knowledge Program.

Employee Benefits Management:

Components-Legally required Benefits–Benefits Administration–Employee Benefits and Employee Services–Funding Benefits through VEBA–Costing the Benefits–Components of Discretionary Core Fringe Compensation-Designing and Planning Benefit Program–Totally Integrated Employee Benefit Program.

Contemporary Strategic Compensation Challenges:

International Compensation and Competitive Strategies-Executive Compensation Packages– Compensating Executives-Compensating the Flexible Workforce-Contingent Employees and Flexible Work Schedules–Compensation for Expatriates and Repatriates–Strategic Issues and Choices in Using Contingent and Flexible Workers.

Introduction:

Definition, concerns and scope of PM. Performance Appraisals. Determinants of job performance. Mapping, process, sequence and cycle of PM. Performance planning and Role clarity. KPAs- Performance Targets. Trait, Behavior and Results approaches to measuring performance. The impact of HRM practices on performance.

Performance Appraisal:

Assessment center-psychometric tests. Role Play–Self-appraisal-360 Degree appraisals-Rating-less 14 appraisals for the future of PMS. Critical incidents worksheet, Combining behavior and outcomes, Attribution theory-Causal matrix. Diagnosis and Performance improvement. Performance review, Performance analysis.

Performance Bench marking:

Human information processing and performance loop, performance shaping factors–Yerkes– Dodson’s Law-Corporate performance management-EFQM Excellence model–Diagnostic and Process bench marking. PM Audit, PM pathway analysis. The impact of Performance Management on Line managers and Employees.

Competency mapping and Pay Plans:

Competency Mapping–Mercer’s Human Capital Wheel–Human Asset worth estimator and Accession rate-CIPD Human Capital framework, Performance, Competence and Contribution related pay models. Cafeteria benefits plan, call back pay. The McBer Generic managerial competency model- Competency causal flow model-Competency gap–Competency Assessment-Balanced Score Card framework.

Performance Metrics and Models:

Performance measures pyramid. Steps for designing metrics, Wang Lab, Smart pyramid, Conceptual, DHL, RCN Models of PM, Gilbert’s performance matrix and Behavior Engineering model. Direction of trouble shooting with Behavior model–Mager and Pipes trouble shooting model – ATI performance improvement model, Spangenberg’s Integrated model of PM, Sears model for organizational performance.


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